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

Contents:

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

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $9,365 per ton, growing by 68% against the previous year. In general, the import price, however, showed a noticeable curtailment. The import price peaked at $11,983 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($10,221 per ton), while the price for the United States ($9,174 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-0.6%), while the prices for the other major suppliers experienced a decline.

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

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $14,476 per ton, growing by 1,856% against the previous year. In general, the export price continues to indicate significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($23,680 per ton), while the average price for exports to the Netherlands amounted to $941 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+566.5%), while the prices for the other major destinations experienced mixed trend patterns.

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

In 2022, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Ecuador surged to 121 tons, rising by 70% on the previous year. Over the period under review, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 84%. As a result, imports attained the peak of 129 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground soared to $1.1M in 2022. Overall, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

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

1. Brazil (97.0 tons)
2. Indonesia (21.5 tons)
3. United States (2.3 tons)

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

In 2022, after three years of growth, there was significant decline in overseas shipments of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground, when their volume decreased by -16% to 42 kg. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 213%. As a result, the exports reached the peak of 50 kg, and then contracted notably in the following year.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground skyrocketed to $608 in 2022. In general, exports, however, enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

1. United States (25.0 kg)
2. Netherlands (17.0 kg)

Source: IndexBox Market Intelligence Platform