Price for Spices; Mace, Neither Crushed Nor Ground in Canada - 2024

Price for Spices; Mace, Neither Crushed Nor Ground in Canada (CIF) - 2022

In 2022, the average import price for spices; mace, neither crushed nor ground amounted to $1,419 per ton, dropping by -38.1% against the previous year. In general, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18%. As a result, import price reached the peak level of $6,523 per ton. From 2014 to 2022, the average import prices remained at a 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 Grenada ($9,685 per ton), while the price for Indonesia ($1,152 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Grenada (+3.7%), while the prices for the other major suppliers experienced a decline.

Price for Spices; Mace, Neither Crushed Nor Ground in Canada (FOB) - 2022

The average export price for spices; mace, neither crushed nor ground stood at $24,390 per ton in 2022, growing by 652% against the previous year. In general, the export price showed a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($24,740 per ton), while the average price for exports to the UK amounted to $2,909 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+24.7%).

Imports of Spices; Mace, Neither Crushed Nor Ground in Canada

For the fourth year in a row, Canada recorded growth in overseas purchases of spices; mace, neither crushed nor ground, which increased by 155% to 441 tons in 2022. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 246%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of spices; mace, neither crushed nor ground skyrocketed to $625K in 2022. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 246%. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Spices; Mace, Neither Crushed Nor Ground in Canada (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	10.8	124	73.1	324	210.7%
India	23.8	45.7	78.3	146	83.1%
Grenada	59.4	223	82.0	107	21.7%
Pakistan	1.5	14.3	10.4	26.6	160.8%
Others	34.2	42.6	153	22.1	-13.5%
Total	130	450	396	625	68.8%

Top Suppliers of Spices; Mace, Neither Crushed Nor Ground to Canada in 2022:

Indonesia (281.0 tons)
India (119.3 tons)
Pakistan (21.4 tons)
Grenada (11.0 tons)

Exports of Spices; Mace, Neither Crushed Nor Ground in Canada

In 2022, after three years of growth, there was significant decline in shipments abroad of spices; mace, neither crushed nor ground, when their volume decreased by -73.5% to 685 kg. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2021 with an increase of 8,821%. As a result, the exports reached the peak of 2.6 tons, and then shrank dramatically in the following year.

In value terms, exports of spices; mace, neither crushed nor ground soared to $17K in 2022. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 9,895%. The exports peaked in 2022 and are expected to retain growth in the immediate term.