Spices; Nutmeg Price in Argentina - 2022

Spices; Nutmeg Price in Argentina (CIF) - 2022

The average spices; nutmeg import price stood at $16,574 per ton in 2022, shrinking by -4% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; nutmeg import price increased by +90.4% against 2012 indices. The most prominent rate of growth was recorded in 2021 an increase of 7.9%. As a result, import price reached the peak level of $17,271 per ton, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($23,971 per ton), while the price for India ($6,259 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Spices; Nutmeg Price in Argentina (FOB) - 2022

The average spices; nutmeg export price stood at $9,367 per ton in 2022, remaining stable against the previous year. Over the period under review, the export price, however, continues to indicate a mild slump. The export price peaked at $10,309 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($197,844 per ton), while the average price for exports to Paraguay ($5,598 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 Bolivia (+34.2%), while the prices for the other major destinations experienced more modest paces of growth.

Spices; Nutmeg Imports in Argentina

In 2022, supplies from abroad of spices; nutmeg was finally on the rise to reach 15 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep setback.

In value terms, spices; nutmeg imports rose sharply to $248K in 2022. In general, imports, however, recorded a abrupt slump.

Import of Spices; Nutmeg in Argentina (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	242	213	187	200	-6.2%
India	50.2	43.2	37.2	38.9	-8.1%
Sri Lanka	8.6	8.3	8.1	9.5	3.4%
Others	0.2	0.2	0.2	0.2	0.0%
Total	301	264	232	248	-6.3%

Top Suppliers of Spices; Nutmeg to Argentina in 2022:

Indonesia (8.3 tons)
India (6.2 tons)
Sri Lanka (0.4 tons)

Spices; Nutmeg Exports in Argentina

In 2022, after three years of growth, there was significant decline in shipments abroad of spices; nutmeg, when their volume decreased by -6.9% to 5.4 tons. The total export volume increased at an average annual rate of +7.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 16%. As a result, the exports attained the peak of 5.8 tons, and then contracted in the following year.

In value terms, spices; nutmeg exports dropped to $50K in 2022. The total export value increased at an average annual rate of +7.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. As a result, the exports attained the peak of $54K, and then shrank in the following year.