Price for Spices; Nutmeg, Crushed or Ground in India - 2023
Contents:
- Price for Spices; Nutmeg, Crushed or Ground in India (FOB) - 2023
- Price for Spices; Nutmeg, Crushed or Ground in India (CIF) - 2022
- Exports of Spices; Nutmeg, Crushed or Ground in India
- Imports of Spices; Nutmeg, Crushed or Ground in India
Price for Spices; Nutmeg, Crushed or Ground in India (FOB) - 2023
The average export price for spices; nutmeg, crushed or ground stood at $7,146 per ton in May 2023, reducing by -15.5% against the previous month. Over the period under review, the export price showed a noticeable descent. The most prominent rate of growth was recorded in March 2023 an increase of 29% month-to-month. The export price peaked at $9,910 per ton in June 2022; however, from July 2022 to May 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Togo ($8,433 per ton), while the average price for exports to Chile ($5,566 per ton) was amongst the lowest.
From June 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Nutmeg, Crushed or Ground in India (CIF) - 2022
The average import price for spices; nutmeg, crushed or ground stood at $8,624 per ton in 2022, approximately mirroring the previous year. Over the period under review, the import price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 107%. The import price peaked at $13,913 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($9,405 per ton), while the price for Sri Lanka ($8,076 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Nutmeg, Crushed or Ground in India
In 2022, after three years of growth, there was significant decline in overseas shipments of spices; nutmeg, crushed or ground, when their volume decreased by -16.4% to 983 tons. Over the period under review, exports, however, recorded slight growth. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year. As a result, the exports attained the peak of 1.2K tons, and then dropped notably in the following year.
In value terms, spices; nutmeg, crushed or ground exports shrank to $7.8M in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +8.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 50%. As a result, the exports attained the peak of $9.1M, and then dropped in the following year.
| Export of Spices; Nutmeg, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 1,205 | 945 | 1,753 | 2,212 | 22.4% |
| United States | 503 | 892 | 1,553 | 1,122 | 30.7% |
| Togo | 1,016 | 375 | 1,015 | 1,012 | -0.1% |
| Dominican Republic | 254 | 486 | 431 | 466 | 22.4% |
| Australia | 404 | 495 | 549 | 426 | 1.8% |
| Canada | 110 | 200 | 174 | 350 | 47.1% |
| South Africa | 279 | 338 | 258 | 288 | 1.1% |
| Austria | N/A | 3.6 | 50.1 | 220 | 681.7% |
| Argentina | 56.6 | 83.5 | 63.8 | 94.5 | 18.6% |
| United Arab Emirates | 929 | 955 | 1,574 | 26.0 | -69.6% |
| Others | 1,335 | 1,316 | 1,701 | 1,570 | 5.6% |
| Total | 6,093 | 6,090 | 9,123 | 7,785 | 8.5% |
Top Export Markets for Spices; Nutmeg, Crushed or Ground from India in 2022:
- Nigeria (318.4 tons)
- United States (140.2 tons)
- Togo (109.3 tons)
- Dominican Republic (63.0 tons)
- South Africa (54.6 tons)
- Canada (47.5 tons)
- Australia (45.1 tons)
- Argentina (15.9 tons)
- Austria (15.6 tons)
- United Arab Emirates (2.8 tons)
Imports of Spices; Nutmeg, Crushed or Ground in India
In 2022, supplies from abroad of spices; nutmeg, crushed or ground decreased by -25.9% to 117 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 136%. As a result, imports attained the peak of 157 tons, and then fell markedly in the following year.
In value terms, spices; nutmeg, crushed or ground imports fell dramatically to $1M in 2022. Overall, imports, however, recorded a significant increase. The growth pace was the most rapid in 2021 when imports increased by 273% against the previous year. As a result, imports reached the peak of $1.3M, and then reduced dramatically in the following year.
| Import of Spices; Nutmeg, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | 61.1 | 56.0 | 781 | 553 | 108.4% |
| Indonesia | 136 | 201 | 235 | 452 | 49.2% |
| United Arab Emirates | 70.2 | 78.6 | 230 | 0.1 | -88.7% |
| South Korea | 77.7 | N/A | 84.5 | N/A | 4.3% |
| Others | 46.3 | 23.9 | 8.5 | N/A | -57.2% |
| Total | 392 | 359 | 1,340 | 1,006 | 36.9% |
Top Suppliers of Spices; Nutmeg, Crushed or Ground to India in 2022:
- United Arab Emirates (undefined tons)
- Sri Lanka (68.5 tons)
- Indonesia (48.1 tons)
775
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in India.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
775
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in India.
4020
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3791
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
8450
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
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Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
3791
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
8450
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
3899
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
