Price for Spices; Nutmeg, Neither Crushed Nor Ground in Ghana - 2022

Contents:

  1. Price for Spices; Nutmeg, Neither Crushed Nor Ground in Ghana (CIF) - 2022
  2. Price for Spices; Nutmeg, Neither Crushed Nor Ground in Ghana (FOB) - 2022
  3. Imports of Spices; Nutmeg, Neither Crushed Nor Ground in Ghana
  4. Exports of Spices; Nutmeg, Neither Crushed Nor Ground in Ghana

Price for Spices; Nutmeg, Neither Crushed Nor Ground in Ghana (CIF) - 2022

In 2022, the average import price for spices; nutmeg, neither crushed nor ground amounted to $7,142 per ton, with a decrease of -11% against the previous year. Overall, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 23% against the previous year. The import price peaked at $14,935 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($7,985 per ton), while the price for the United Arab Emirates stood at $7,158 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+23.3%), while the prices for the other major suppliers experienced a decline.

Price for Spices; Nutmeg, Neither Crushed Nor Ground in Ghana (FOB) - 2022

In 2022, the average export price for spices; nutmeg, neither crushed nor ground amounted to $851 per ton, declining by -14.9% against the previous year. Over the period under review, the export price continues to indicate a noticeable downturn. The growth pace was the most rapid in 2017 when the average export price increased by 48% against the previous year. The export price peaked at $1,153 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($4,571 per ton), while the average price for exports to Cote d'Ivoire totaled $735 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+16.4%).

Imports of Spices; Nutmeg, Neither Crushed Nor Ground in Ghana

Imports of spices; nutmeg, neither crushed nor ground into Ghana skyrocketed to 365 tons in 2022, with an increase of 25% on the year before. Overall, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +6.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.9% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 47%. As a result, imports attained the peak of 439 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of spices; nutmeg, neither crushed nor ground expanded remarkably to $2.6M in 2022. The total import value increased at an average annual rate of +6.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 32%. As a result, imports reached the peak of $2.9M. From 2021 to 2022, the growth of imports of remained at a lower figure.

Import of Spices; Nutmeg, Neither Crushed Nor Ground in Ghana (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
United Arab Emirates1.92.92.32.611.0%
Indonesia0.2N/AN/AN/A0%
Others0.1N/AN/AN/A0%
Total2.22.92.32.65.7%

Top Suppliers of Spices; Nutmeg, Neither Crushed Nor Ground to Ghana in 2022:

  1. United Arab Emirates (361.9 tons)

Exports of Spices; Nutmeg, Neither Crushed Nor Ground in Ghana

Exports of spices; nutmeg, neither crushed nor ground from Ghana surged to 692 kg in 2022, growing by 24% compared with the previous year. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +7.6% 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 -16.1% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 48% against the previous year. As a result, the exports attained the peak of 825 kg. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of spices; nutmeg, neither crushed nor ground reached $589 in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +13.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -5.0% against 2020 indices. The growth pace was the most rapid in 2020 when exports increased by 53%. As a result, the exports reached the peak of $620. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Export of Spices; Nutmeg, Neither Crushed Nor Ground in Ghana (USD)
COUNTRY2019202020212022CAGR,
2019-2022
Cote d'Ivoire33857845049313.4%
Canada68.042.080.096.012.2%
OthersN/AN/A28.0N/A0%
Total40662055858913.2%

Top Export Markets for Spices; Nutmeg, Neither Crushed Nor Ground from Ghana in 2022:

  1. Cote d'Ivoire (671.0 kg)
  2. Canada (21.0 kg)

Source: IndexBox Market Intelligence Platform

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