Price for Spices; Nutmeg, Crushed or Ground in Ethiopia - 2022

Contents:

1. Price for Spices; Nutmeg, Crushed or Ground in Ethiopia (FOB) - 2022
2. Price for Spices; Nutmeg, Crushed or Ground in Ethiopia (CIF) - 2022
3. Exports of Spices; Nutmeg, Crushed or Ground in Ethiopia
4. Imports of Spices; Nutmeg, Crushed or Ground in Ethiopia

Price for Spices; Nutmeg, Crushed or Ground in Ethiopia (FOB) - 2022

In 2022, the average export price for spices; nutmeg, crushed or ground amounted to $2,300 per ton, declining by -69% against the previous year. Over the period under review, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2018 an increase of 83%. As a result, the export price reached the peak level of $30,130 per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($10,712 per ton), while the average price for exports to Saudi Arabia ($1,025 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 the United States (-2.4%), while the prices for the other major destinations experienced a decline.

Price for Spices; Nutmeg, Crushed or Ground in Ethiopia (CIF) - 2022

The average import price for spices; nutmeg, crushed or ground stood at $3,400 per ton in 2022, surging by 96% against the previous year. Overall, the import price, however, recorded a pronounced descent. The import price peaked at $4,423 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -4.1% per year.

Exports of Spices; Nutmeg, Crushed or Ground in Ethiopia

For the fourth year in a row, Ethiopia recorded growth in shipments abroad of spices; nutmeg, crushed or ground, which increased by 21% to 11 tons in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 522%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, spices; nutmeg, crushed or ground exports fell markedly to $26K in 2022. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of 361%. As a result, the exports reached the peak of $69K, and then declined markedly in the following year.

Top Export Markets for Spices; Nutmeg, Crushed or Ground from Ethiopia in 2022:

1. Saudi Arabia (7.4 tons)
2. Canada (2.5 tons)
3. United States (1.1 tons)
4. United Kingdom (0.4 tons)

Imports of Spices; Nutmeg, Crushed or Ground in Ethiopia

In 2022, overseas purchases of spices; nutmeg, crushed or ground decreased by -99.9% to 5 kg, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2020 with an increase of 259% against the previous year. As a result, imports attained the peak of 23 tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, spices; nutmeg, crushed or ground imports dropped dramatically to $17 in 2022. Over the period under review, imports saw a dramatic downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 282%. As a result, imports reached the peak of $32K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Top Suppliers of Spices; Nutmeg, Crushed or Ground to Ethiopia in 2022:

1. China (5.0 kg)

Source: IndexBox Market Intelligence Platform