Price for Spices; Mace, Crushed or Ground in Vietnam - 2022
Contents:
- Price for Spices; Mace, Crushed or Ground in Vietnam (FOB) - 2022
- Price for Spices; Mace, Crushed or Ground in Vietnam (CIF) - 2022
- Exports of Spices; Mace, Crushed or Ground in Vietnam
- Imports of Spices; Mace, Crushed or Ground in Vietnam
Price for Spices; Mace, Crushed or Ground in Vietnam (FOB) - 2022
The average export price for spices; mace, crushed or ground stood at $22,494 per ton in 2022, shrinking by -5% against the previous year. Overall, the export price saw a perceptible decrease. The pace of growth was the most pronounced in 2019 when the average export price increased by 46%. The export price peaked at $31,893 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
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 Australia ($24,918 per ton), while the average price for exports to Canada ($9,440 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 Switzerland (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Mace, Crushed or Ground in Vietnam (CIF) - 2022
In 2022, the average import price for spices; mace, crushed or ground amounted to $16,173 per ton, remaining constant against the previous year. In general, the import price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 46%. Over the period under review, average import prices reached the maximum at $19,881 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Indonesia.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to +10.3% per year.
Exports of Spices; Mace, Crushed or Ground in Vietnam
In 2022, overseas shipments of spices; mace, crushed or ground were finally on the rise to reach 165 tons after two years of decline. In general, exports, however, recorded a abrupt shrinkage.
In value terms, spices; mace, crushed or ground exports totaled $3.7M in 2022. The total export value increased at an average annual rate of +1.2% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 3.8%. As a result, the exports reached the peak of $3.7M; afterwards, it flattened through to 2022.
| Export of Spices; Mace, Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 1,901 | 1,780 | 1,676 | 1,087 | -17.0% |
| United States | 469 | 312 | 434 | 409 | -4.5% |
| United Kingdom | 531 | 500 | 381 | 329 | -14.7% |
| Switzerland | 239 | 298 | 123 | 229 | -1.4% |
| Canada | 15.8 | 43.4 | 80.7 | 119 | 96.0% |
| Germany | 346 | 668 | 180 | 51.4 | -47.0% |
| Others | 90.7 | 127 | 840 | 1,498 | 154.7% |
| Total | 3,592 | 3,729 | 3,714 | 3,721 | 1.2% |
Top Export Markets for Spices; Mace, Crushed or Ground from Vietnam in 2022:
- Netherlands (44.2 tons)
- United States (17.7 tons)
- United Kingdom (15.4 tons)
- Canada (12.6 tons)
- Switzerland (9.3 tons)
- Germany (2.2 tons)
Imports of Spices; Mace, Crushed or Ground in Vietnam
In 2022, purchases abroad of spices; mace, crushed or ground increased by 19% to 35 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a dramatic decrease.
In value terms, spices; mace, crushed or ground imports skyrocketed to $569K in 2022. In general, imports, however, continue to indicate a significant contraction.
| Import of Spices; Mace, Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,318 | 656 | 481 | 569 | -24.4% |
| Others | 14.0 | N/A | 0.1 | N/A | -91.5% |
| Total | 1,332 | 656 | 481 | 569 | -24.7% |
Top Suppliers of Spices; Mace, Crushed or Ground to Vietnam in 2022:
- Indonesia (35.2 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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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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