Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia - 2023

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia (CIF) - 2022
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia (FOB) - 2022
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia (CIF) - 2022

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $5,435 per ton, dropping by -55.3% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2015 an increase of 261%. Over the period under review, average import prices hit record highs at $29,266 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Estonia ($39,247 per ton), while the price for Poland ($5,167 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $5,880 per ton in 2022, declining by -11.8% against the previous year. Over the period under review, the export price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2013 an increase of 64% against the previous year. As a result, the export price attained the peak level of $29,487 per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($19,364 per ton), while the average price for exports to Serbia ($5,524 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 Serbia (+11.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia

For the fourth consecutive year, Latvia recorded growth in supplies from abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground, which increased by 206% to 12 tons in 2022. Overall, imports showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 361%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground skyrocketed to $64K in 2022. In general, imports recorded significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 159% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground to Latvia in 2022:

1. Poland (11.5 tons)
2. Estonia (0.1 tons)

Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Latvia

Exports of spices; cloves (whole fruit, cloves and stems), crushed or ground from Latvia skyrocketed to 8.6 tons in 2022, rising by 1,214% compared with the previous year. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 2,326%. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground skyrocketed to $51K in 2022. Overall, exports saw a significant expansion. 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), Crushed or Ground from Latvia in 2022:

1. Poland (3.1 tons)
2. Serbia (2.3 tons)
3. Bulgaria (1.2 tons)
4. Romania (0.9 tons)
5. Hungary (0.7 tons)
6. Czech Republic (0.1 tons)

Source: IndexBox Market Intelligence Platform