Price for Spices; Nutmeg, Crushed or Ground in Turkey - 2023
Contents:
- Price for Spices; Nutmeg, Crushed or Ground in Turkey (FOB) - 2022
- Price for Spices; Nutmeg, Crushed or Ground in Turkey (CIF) - 2022
- Exports of Spices; Nutmeg, Crushed or Ground in Turkey
- Imports of Spices; Nutmeg, Crushed or Ground in Turkey
Price for Spices; Nutmeg, Crushed or Ground in Turkey (FOB) - 2022
The average export price for spices; nutmeg, crushed or ground stood at $11,425 per ton in 2022, with an increase of 2.2% against the previous year. Overall, the export price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2014 when the average export price increased by 106% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($15,279 per ton), while the average price for exports to India ($2,571 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 Lebanon (+51.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Nutmeg, Crushed or Ground in Turkey (CIF) - 2022
In 2022, the average import price for spices; nutmeg, crushed or ground amounted to $11,990 per ton, growing by 23% against the previous year. In general, the import price recorded significant growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 4,498% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($12,080 per ton), while the price for Vietnam stood at $10,820 per ton.
From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+70.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Nutmeg, Crushed or Ground in Turkey
In 2022, overseas shipments of spices; nutmeg, crushed or ground decreased by -5.2% to 39 tons, falling for the second year in a row after two years of growth. Overall, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +16.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 97% against the previous year. As a result, the exports attained the peak of 48 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, spices; nutmeg, crushed or ground exports fell slightly to $442K in 2022. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +19.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 74%.
| Export of Spices; Nutmeg, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 220 | 367 | 352 | 326 | 14.0% |
| United Kingdom | N/A | 2.4 | 5.1 | 51.5 | 363.2% |
| Cyprus | 7.7 | 8.7 | 6.1 | 18.2 | 33.2% |
| Germany | 3.5 | 7.3 | 13.8 | 10.4 | 43.8% |
| Netherlands | N/A | 1.2 | 2.3 | 4.1 | 84.8% |
| Turkmenistan | N/A | 0.8 | 1.1 | 3.8 | 117.9% |
| Syrian Arab Republic | 3.9 | 2.2 | 0.2 | 0.8 | -41.0% |
| Lebanon | N/A | 7.1 | 0.3 | 0.1 | -88.1% |
| Iraq | 5.8 | 4.4 | 1.8 | N/A | -44.3% |
| Indonesia | N/A | N/A | 36.6 | N/A | 0% |
| Others | 16.2 | 46.1 | 37.5 | 27.1 | 18.7% |
| Total | 257 | 447 | 456 | 442 | 19.8% |
Top Export Markets for Spices; Nutmeg, Crushed or Ground from Turkey in 2022:
- Lebanon (undefined tons)
- Canada (21.4 tons)
- United Kingdom (4.6 tons)
- Cyprus (4.2 tons)
- Germany (1.3 tons)
- Turkmenistan (1.1 tons)
- Netherlands (0.7 tons)
- Syrian Arab Republic (0.2 tons)
Imports of Spices; Nutmeg, Crushed or Ground in Turkey
In 2022, supplies from abroad of spices; nutmeg, crushed or ground decreased by -1.1% to 31 tons, falling for the second year in a row after two years of growth. Overall, imports saw a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 103% against the previous year. As a result, imports reached the peak of 71 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; nutmeg, crushed or ground imports soared to $366K in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +26.5% 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 +102.5% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 52%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.
| Import of Spices; Nutmeg, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 177 | 265 | 251 | 364 | 27.2% |
| Belgium | N/A | N/A | 45.9 | N/A | 0% |
| Sri Lanka | 1.0 | 1.3 | N/A | N/A | 30.0% |
| Iran | 1.4 | 3.0 | N/A | N/A | 114.3% |
| Others | 1.3 | 5.7 | 2.9 | 2.3 | 20.9% |
| Total | 181 | 275 | 300 | 366 | 26.5% |
Top Suppliers of Spices; Nutmeg, Crushed or Ground to Turkey in 2022:
- Indonesia (30.1 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Turkey.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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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
8418
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.
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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,
