SPICEXIM are International Brokers for seeds, spices, herbs and dry fruits. SPICEXIM is a multi-generation company with a long and respected history and has been in the business for more over a century. Below they try to provide a snapshot for different spices in 2021 and trend indications for 2022.
Cloves
Clove prices moved sharply in 2021 on Indonesian small crop, buoyed by high price buying by Indonesian cigarette companies and Indian demand.
Good crops from African origin helped stabilize the prices, however the shipping line congestion complicated situation for importers.
Indonesian origin prices continue to be high, whereas African origins are lower due to the bureaucratic entanglements and shipping line issues.
Current muted Indian demand will be keenly watched during the first quarter of 2022, as new crop Madagascar consignments reach the Indian shores in Jan.
We expect cloves prices to remain stable to weak, with price spikes depending on buying by Indonesian cigarette companies
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