Price for Spices; Mace, Neither Crushed Nor Ground in the United States - 2023

Contents:

1. Price for Spices; Mace, Neither Crushed Nor Ground in the United States (CIF) - 2022
2. Price for Spices; Mace, Neither Crushed Nor Ground in the United States (FOB) - 2022
3. Imports of Spices; Mace, Neither Crushed Nor Ground in the United States
4. Exports of Spices; Mace, Neither Crushed Nor Ground in the United States

Price for Spices; Mace, Neither Crushed Nor Ground in the United States (CIF) - 2022

The average import price for spices; mace, neither crushed nor ground stood at $20,176 per ton in 2022, waning by -7.5% against the previous year. Overall, the import price continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2019 when the average import price increased by 44% against the previous year. The import price peaked at $31,155 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($21,254 per ton), while the price for India totaled $16,474 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.7%).

Price for Spices; Mace, Neither Crushed Nor Ground in the United States (FOB) - 2022

The average export price for spices; mace, neither crushed nor ground stood at $6,924 per ton in 2022, rising by 2.6% against the previous year. In general, the export price enjoyed a notable expansion. The pace of growth was the most pronounced in 2018 an increase of 114% against the previous year. The export price peaked at $11,981 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($16,284 per ton), while the average price for exports to Canada ($4,857 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1,010.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Mace, Neither Crushed Nor Ground in the United States

In 2022, overseas purchases of spices; mace, neither crushed nor ground decreased by -19.3% to 94 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 65% against the previous year.

In value terms, imports of spices; mace, neither crushed nor ground contracted remarkably to $1.9M in 2022. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of 132%.

Top Suppliers of Spices; Mace, Neither Crushed Nor Ground to the United States in 2022:

1. Indonesia (71.7 tons)
2. India (21.2 tons)

Exports of Spices; Mace, Neither Crushed Nor Ground in the United States

Exports of spices; mace, neither crushed nor ground from the United States soared to 63 tons in 2022, jumping by 195% on 2021 figures. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 645%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of spices; mace, neither crushed nor ground skyrocketed to $438K in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2020 with an increase of 639% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Spices; Mace, Neither Crushed Nor Ground from the United States in 2022:

1. Canada (49.7 tons)
2. Mexico (8.0 tons)
3. Italy (5.4 tons)

Source: IndexBox Market Intelligence Platform