Price for Spices; Nutmeg, Neither Crushed Nor Ground in the Dominican Republic - 2023

Contents:

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

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

The average import price for spices; nutmeg, neither crushed nor ground stood at $10,802 per ton in 2022, with an increase of 9.1% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. The growth pace was the most rapid in 2021 when the average import price increased by 23% against the previous year. Over the period under review, average import prices attained the peak figure at $18,879 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the United States ($20,695 per ton), while the price for Indonesia ($8,141 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.9%), while the prices for the other major suppliers experienced a decline.

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

In 2022, the average export price for spices; nutmeg, neither crushed nor ground amounted to $12,313 per ton, increasing by 4.5% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2016 an increase of 114% against the previous year. The export price peaked at $18,318 per ton in 2012; however, from 2013 to 2022, the 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 Haiti ($12,466 per ton), while the average price for exports to the United States ($4,279 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 France (+10.0%), while the prices for the other major destinations experienced a decline.

Imports of Spices; Nutmeg, Neither Crushed Nor Ground in the Dominican Republic

In 2022, supplies from abroad of spices; nutmeg, neither crushed nor ground decreased by -22.9% to 176 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 15% against the previous year.

In value terms, imports of spices; nutmeg, neither crushed nor ground declined significantly to $1.9M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.7% 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 +32.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 35%. As a result, imports reached the peak of $2.3M, and then contracted markedly in the following year.

Top Suppliers of Spices; Nutmeg, Neither Crushed Nor Ground to the Dominican Republic in 2022:

1. India (72.9 tons)
2. Sri Lanka (50.0 tons)
3. Indonesia (48.1 tons)
4. United States (3.4 tons)

Exports of Spices; Nutmeg, Neither Crushed Nor Ground in the Dominican Republic

After three years of growth, overseas shipments of spices; nutmeg, neither crushed nor ground decreased by -28.8% to 8.8 tons in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 244%. As a result, the exports attained the peak of 12 tons, and then fell notably in the following year.

In value terms, exports of spices; nutmeg, neither crushed nor ground contracted rapidly to $108K in 2022. Overall, exports, however, showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 513% against the previous year. As a result, the exports reached the peak of $146K, and then reduced notably in the following year.

Top Export Markets for Spices; Nutmeg, Neither Crushed Nor Ground from the Dominican Republic in 2022:

1. Haiti (8.5 tons)
2. United States (0.2 tons)

Source: IndexBox Market Intelligence Platform