Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia - 2023

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia (CIF) - 2023
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia (FOB) - 2022
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia (CIF) - 2023

In November 2023, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $11,547 per ton, jumping by 18% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2023 an increase of 110% m-o-m. As a result, import price reached the peak level of $15,041 per ton. From July 2023 to November 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Sri Lanka ($15,704 per ton), while the price for Indonesia ($10,419 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $10,759 per ton in 2022, which is down by -20.6% against the previous year. Overall, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 68% against the previous year. Over the period under review, the average export prices attained the maximum at $30,411 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 Singapore ($14,727 per ton), while the average price for exports to New Zealand ($8,921 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 Thailand (+0.2%), while the prices for the other major destinations experienced a decline.

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia

In 2022, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Australia soared to 137 tons, with an increase of 31% against the year before. In general, imports, however, continue to indicate a perceptible slump.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground skyrocketed to $1.2M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +10.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 31%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground to Australia in 2022:

1. India (53.8 tons)
2. Indonesia (50.4 tons)
3. Madagascar (22.0 tons)
4. Malaysia (4.2 tons)
5. China (3.5 tons)
6. Sri Lanka (1.1 tons)

Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Australia

In 2022, shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground was finally on the rise to reach 2.7 tons after two years of decline. Over the period under review, exports, however, showed a noticeable setback.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground soared to $29K in 2022. In general, exports, however, showed a pronounced setback.

Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground from Australia in 2022:

1. New Zealand (1763.0 kg)
2. Singapore (684.0 kg)
3. Thailand (228.0 kg)

Source: IndexBox Market Intelligence Platform