Price for Spices; Nutmeg, Crushed or Ground in Norway - 2023

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

In 2022, the average import price for spices; nutmeg, crushed or ground amounted to $15,707 per ton, rising by 14% against the previous year. In general, the import price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16%. Over the period under review, average import prices attained the peak figure at $29,530 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Grenada ($33,537 per ton), while the price for Germany ($11,491 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average export price for spices; nutmeg, crushed or ground stood at $18,091 per ton in 2022, declining by -10.8% against the previous year. In general, the export price, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 an increase of 390% against the previous year. Over the period under review, the average export prices reached the peak figure at $26,105 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Denmark.

From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +36.3% per year.

Imports of Spices; Nutmeg, Crushed or Ground in Norway

In 2022, overseas purchases of spices; nutmeg, crushed or ground decreased by -3% to 38 tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +1.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 15%. As a result, imports attained the peak of 42 tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, spices; nutmeg, crushed or ground imports expanded remarkably to $596K in 2022. The total import value increased at an average annual rate of +8.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Spices; Nutmeg, Crushed or Ground in Norway (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	163	178	187	470	42.3%
Germany	11.3	9.7	19.7	48.3	62.3%
Sri Lanka	3.5	4.6	2.9	21.5	83.1%
India	12.6	2.9	5.0	20.5	17.6%
Vietnam	6.8	5.0	3.7	14.8	29.6%
Netherlands	19.7	12.1	9.1	11.3	-16.9%
Sweden	73.4	84.8	97.7	N/A	15.4%
Others	178	210	216	9.9	-61.8%
Total	468	507	541	596	8.4%

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

Indonesia (29.2 tons)
Germany (4.2 tons)
Sri Lanka (1.4 tons)
India (1.0 tons)
Vietnam (1.0 tons)
Netherlands (0.8 tons)

Exports of Spices; Nutmeg, Crushed or Ground in Norway

After three years of growth, overseas shipments of spices; nutmeg, crushed or ground decreased by -68.6% to 11 kg in 2022. In general, exports showed a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 42%.

In value terms, spices; nutmeg, crushed or ground exports contracted dramatically to $199 in 2022. Overall, exports faced a precipitous decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 22% against the previous year.