Price for Spices; Nutmeg, Neither Crushed Nor Ground in Argentina - 2023

Price for Spices; Nutmeg, Neither Crushed Nor Ground in Argentina (CIF) - 2022

The average import price for spices; nutmeg, neither crushed nor ground stood at $9,778 per ton in 2022, rising by 7.7% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 when the average import price increased by 15%. The import price peaked at $17,534 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Grenada ($11,943 per ton), while the price for Indonesia ($8,900 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Grenada (-2.2%), while the prices for the other major suppliers experienced a decline.

Price for Spices; Nutmeg, Neither Crushed Nor Ground in Argentina (FOB) - 2022

In 2022, the average export price for spices; nutmeg, neither crushed nor ground amounted to $11,991 per ton, declining by -6.9% against the previous year. In general, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by 111%. Over the period under review, the average export prices attained the maximum at $70,500 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Paraguay amounted to -11.6% per year.

Imports of Spices; Nutmeg, Neither Crushed Nor Ground in Argentina

In 2022, imports of spices; nutmeg, neither crushed nor ground into Argentina stood at 186 tons, remaining stable against the previous year's figure. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +15.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 31%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, imports of spices; nutmeg, neither crushed nor ground expanded rapidly to $1.8M in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +22.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.6% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 32%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.

Import of Spices; Nutmeg, Neither Crushed Nor Ground in Argentina (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	373	583	386	1,087	42.8%
Grenada	480	394	359	573	6.1%
India	25.7	71.0	96.1	155	82.0%
Singapore	105	207	196	N/A	36.6%
Others	9.7	7.3	625	N/A	702.7%
Total	994	1,262	1,663	1,815	22.2%

Top Suppliers of Spices; Nutmeg, Neither Crushed Nor Ground to Argentina in 2022:

Indonesia (122.1 tons)
Grenada (48.0 tons)
India (15.5 tons)

Exports of Spices; Nutmeg, Neither Crushed Nor Ground in Argentina

In 2022, exports of spices; nutmeg, neither crushed nor ground from Argentina reduced dramatically to 1.2 tons, declining by -40.8% against the previous year's figure. In general, exports faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 1,526% against the previous year.

In value terms, exports of spices; nutmeg, neither crushed nor ground fell rapidly to $14K in 2022. Over the period under review, exports recorded a sharp slump. The growth pace was the most rapid in 2021 with an increase of 886% against the previous year.