Price for Spices; Mace, Crushed or Ground in the United States - 2023
Contents:
- Price for Spices; Mace, Crushed or Ground in the United States (CIF) - 2022
- Price for Spices; Mace, Crushed or Ground in the United States (FOB) - 2022
- Imports of Spices; Mace, Crushed or Ground in the United States
- Exports of Spices; Mace, Crushed or Ground in the United States
Price for Spices; Mace, Crushed or Ground in the United States (CIF) - 2022
The average import price for spices; mace, crushed or ground stood at $25,332 per ton in 2022, rising by 14% against the previous year. Over the period under review, the import price showed buoyant growth. The growth pace was the most rapid in 2020 an increase of 155% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($33,905 per ton) and Grenada ($33,510 per ton), while the price for Indonesia ($24,420 per ton) and Sri Lanka ($27,932 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Mace, Crushed or Ground in the United States (FOB) - 2022
In 2022, the average export price for spices; mace, crushed or ground amounted to $8,898 per ton, which is down by -5.5% against the previous year. In general, the export price showed a perceptible decline. The pace of growth was the most pronounced in 2021 when the average export price increased by 20% against the previous year. The export price peaked at $14,749 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($16,184 per ton), while the average price for exports to Indonesia ($5,935 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 Indonesia (+1.6%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Mace, Crushed or Ground in the United States
In 2022, the amount of spices; mace, crushed or ground imported into the United States declined markedly to 65 tons, with a decrease of -50.5% on 2021 figures. Over the period under review, imports continue to indicate a significant decline. The smallest decline of -4.2% was in 2021.
In value terms, spices; mace, crushed or ground imports dropped remarkably to $1.6M in 2022. In general, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 53%. As a result, imports attained the peak of $2.9M, and then contracted markedly in the following year.
| Import of Spices; Mace, Crushed or Ground in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,014 | 1,760 | 2,445 | 1,392 | 11.1% |
| India | 136 | 59.3 | 163 | 131 | -1.2% |
| Sri Lanka | 70.8 | 21.8 | 90.2 | 60.9 | -4.9% |
| Grenada | 28.2 | 32.4 | 140 | 50.2 | 21.2% |
| Others | 44.1 | 25.5 | 71.2 | 3.5 | -57.0% |
| Total | 1,293 | 1,899 | 2,909 | 1,637 | 8.2% |
Top Suppliers of Spices; Mace, Crushed or Ground to the United States in 2022:
- Indonesia (57.0 tons)
- India (3.8 tons)
- Sri Lanka (2.2 tons)
- Grenada (1.5 tons)
Exports of Spices; Mace, Crushed or Ground in the United States
In 2022, shipments abroad of spices; mace, crushed or ground decreased by -14.3% to 30 tons, falling for the second consecutive year after two years of growth. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 65%. As a result, the exports reached the peak of 48 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, spices; mace, crushed or ground exports reduced remarkably to $264K in 2022. Over the period under review, exports recorded a noticeable curtailment. The pace of growth was the most pronounced in 2020 with an increase of 29% against the previous year. As a result, the exports reached the peak of $372K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Spices; Mace, Crushed or Ground in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 197 | 220 | 291 | 163 | -6.1% |
| Indonesia | N/A | 24.3 | N/A | 39.9 | 28.1% |
| Mexico | 61.0 | 91.5 | 26.1 | 36.2 | -16.0% |
| Guatemala | 3.2 | N/A | 3.1 | 18.9 | 80.8% |
| Spain | N/A | 32.0 | N/A | N/A | 0% |
| Chile | 17.3 | N/A | N/A | N/A | 0% |
| United Kingdom | 8.6 | N/A | 5.2 | N/A | -22.2% |
| Others | N/A | 4.4 | N/A | 6.5 | 21.5% |
| Total | 288 | 372 | 326 | 264 | -2.9% |
Top Export Markets for Spices; Mace, Crushed or Ground from the United States in 2022:
- Canada (17.4 tons)
- Indonesia (6.7 tons)
- Guatemala (2.8 tons)
- Mexico (2.2 tons)
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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
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