Price for Spices; Mace, Crushed or Ground in Malaysia - 2022
Contents:
- Price for Spices; Mace, Crushed or Ground in Malaysia (FOB) - 2022
- Price for Spices; Mace, Crushed or Ground in Malaysia (CIF) - 2022
- Exports of Spices; Mace, Crushed or Ground in Malaysia
- Imports of Spices; Mace, Crushed or Ground in Malaysia
Price for Spices; Mace, Crushed or Ground in Malaysia (FOB) - 2022
The average export price for spices; mace, crushed or ground stood at $24,874 per ton in 2022, stabilizing at the previous year. Overall, the export price, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs at $30,571 per ton in 2013; however, from 2014 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 Thailand ($136,371 per ton), while the average price for exports to South Africa ($15,884 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 Thailand (+24.9%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Spices; Mace, Crushed or Ground in Malaysia (CIF) - 2022
The average import price for spices; mace, crushed or ground stood at $15,714 per ton in 2022, leveling off at the previous year. Overall, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 an increase of 55%. Over the period under review, average import prices hit record highs at $30,987 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
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 Indonesia ($20,393 per ton), while the price for India ($10,435 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-2.2%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Mace, Crushed or Ground in Malaysia
In 2022, the amount of spices; mace, crushed or ground exported from Malaysia surged to 8.5 tons, rising by 17% against the previous year. Overall, exports posted a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 175%. As a result, the exports attained the peak of 10 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 soared to $212K in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 256% against the previous year. As a result, the exports attained the peak of $243K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Spices; Mace, Crushed or Ground in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 37.0 | 87.2 | 97.2 | 86.7 | 32.8% |
| South Korea | 13.9 | 52.5 | 24.1 | 50.9 | 54.1% |
| New Zealand | 3.0 | 3.7 | 17.7 | 28.7 | 112.3% |
| Thailand | 5.9 | 16.6 | 22.0 | 23.3 | 58.1% |
| Australia | 1.6 | 9.3 | 17.5 | 20.4 | 133.6% |
| Hong Kong SAR | N/A | 36.5 | N/A | N/A | 0% |
| China | N/A | 36.5 | N/A | N/A | 0% |
| Others | 6.9 | 1.1 | 1.6 | 1.7 | -37.3% |
| Total | 68.3 | 243 | 180 | 212 | 45.9% |
Top Export Markets for Spices; Mace, Crushed or Ground from Malaysia in 2022:
- South Africa (5.5 tons)
- South Korea (1.8 tons)
- Australia (0.8 tons)
- New Zealand (0.3 tons)
- Thailand (0.2 tons)
Imports of Spices; Mace, Crushed or Ground in Malaysia
In 2022, the amount of spices; mace, crushed or ground imported into Malaysia dropped sharply to 800 kg, reducing by -33.4% against the previous year's figure. Over the period under review, imports showed a sharp reduction. The growth pace was the most rapid in 2021 when imports increased by 173% against the previous year.
In value terms, spices; mace, crushed or ground imports reduced rapidly to $13K in 2022. In general, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 212%. As a result, imports attained the peak of $19K, and then shrank markedly in the following year.
| Import of Spices; Mace, Crushed or Ground in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 13.7 | 3.5 | 10.9 | 7.7 | -17.5% |
| India | 2.1 | 1.4 | 5.6 | 3.9 | 22.9% |
| Vietnam | 0.6 | 0.5 | 0.5 | 0.4 | -12.6% |
| Thailand | 1.3 | N/A | N/A | N/A | 0% |
| Germany | 0.5 | N/A | 0.9 | N/A | 34.2% |
| Others | 0.7 | 0.7 | 1.2 | 0.6 | -5.0% |
| Total | 18.9 | 6.1 | 19.0 | 12.6 | -12.6% |
Top Suppliers of Spices; Mace, Crushed or Ground to Malaysia in 2022:
- India (376.0 kg)
- Indonesia (376.0 kg)
- Vietnam (19.0 kg)
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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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