Spices; Nutmeg Price in Singapore - 2022
Contents:
- Spices; Nutmeg Price in Singapore (CIF) - 2022
- Spices; Nutmeg Price in Singapore (FOB) - 2022
- Spices; Nutmeg Imports in Singapore
- Spices; Nutmeg Exports in Singapore
Spices; Nutmeg Price in Singapore (CIF) - 2022
In 2022, the average spices; nutmeg import price amounted to $25,843 per ton, with a decrease of -4.8% against the previous year. Over the period under review, the import price, however, posted a buoyant increase. The growth pace was the most rapid in 2021 an increase of 9.7% against the previous year. As a result, import price reached the peak level of $27,144 per ton, and then reduced slightly in the following year.
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 Sri Lanka ($129,451 per ton), while the price for Germany ($12,807 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+26.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Nutmeg Price in Singapore (FOB) - 2022
The average spices; nutmeg export price stood at $7,989 per ton in 2022, shrinking by -3.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 8.7%. Over the period under review, the average export prices hit record highs at $8,300 per ton in 2021, and then declined slightly in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($18,861 per ton), while the average price for exports to the Philippines ($268 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 the Dominican Republic (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Nutmeg Imports in Singapore
After two years of decline, supplies from abroad of spices; nutmeg increased by 8.9% to 57 tons in 2022. Overall, imports, however, showed a deep contraction.
In value terms, spices; nutmeg imports rose slightly to $1.5M in 2022. In general, imports, however, recorded a perceptible downturn.
| Import of Spices; Nutmeg in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 808 | 797 | 781 | 847 | 1.6% |
| Sri Lanka | 460 | 423 | 385 | 389 | -5.4% |
| Indonesia | 261 | 201 | 154 | 130 | -20.7% |
| Malaysia | 98.8 | 97.5 | 95.5 | 104 | 1.7% |
| Others | 17.7 | 13.1 | 9.6 | 7.8 | -23.9% |
| Total | 1,645 | 1,531 | 1,425 | 1,478 | -3.5% |
Top Suppliers of Spices; Nutmeg to Singapore in 2022:
- India (39.5 tons)
- Indonesia (7.4 tons)
- Malaysia (6.7 tons)
- Sri Lanka (3.0 tons)
Spices; Nutmeg Exports in Singapore
After three years of growth, shipments abroad of spices; nutmeg decreased by -3.3% to 35 tons in 2022. The total export volume increased at an average annual rate of +3.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 7.1%. As a result, the exports reached the peak of 37 tons, and then reduced in the following year.
In value terms, spices; nutmeg exports dropped to $282K in 2022. The total export value increased at an average annual rate of +7.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 16% against the previous year. As a result, the exports reached the peak of $303K, and then contracted in the following year.
| Export of Spices; Nutmeg in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Dominican Republic | 179 | 210 | 245 | 229 | 8.6% |
| Malaysia | 12.9 | 16.0 | 19.8 | 19.5 | 14.8% |
| South Africa | 12.2 | 14.5 | 17.2 | 16.4 | 10.4% |
| Venezuela | 9.4 | 9.0 | 8.7 | 6.7 | -10.7% |
| Panama | 3.5 | 3.5 | 3.4 | 2.7 | -8.3% |
| Fiji | 1.8 | 2.2 | 2.6 | 2.5 | 11.6% |
| Seychelles | 0.3 | 0.3 | 0.4 | 0.4 | 10.1% |
| Others | 5.6 | 5.7 | 5.8 | 4.7 | -5.7% |
| Total | 225 | 261 | 303 | 282 | 7.8% |
Top Export Markets for Spices; Nutmeg from Singapore in 2022:
- Dominican Republic (17.6 tons)
- Malaysia (10.2 tons)
- South Africa (4.2 tons)
- Panama (1.3 tons)
- Fiji (0.7 tons)
- Seychelles (0.5 tons)
- Venezuela (0.4 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Singapore.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Singapore.
3985
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3771
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
8414
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.
3858
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,
3771
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
8414
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.
3858
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,
