Market Insights
19-06-2024
During the year 2022, the global trade of cloves amassed a staggering value
of US$572 million.
This figure marks a notable surge of 30.9% in cloves exports since 2018, a year when the export revenue stood at $436.9 million.
Comparing year-on-year, the international trade of cloves surged by 33% from the preceding year, reaching $430.2 million in 2021.
Cloves serve as essential ingredients in seasoning various dishes like meats, curries, and marinades, as well as enhancing the flavors of fruits such as apples, pears, and rhubarb. They are also integral components of spice blends like pumpkin pie spice, imparting distinctive aroma and taste to hot beverages.
Clove cigarettes, reminiscent of cigars, are widely consumed across Asia, Europe, and the United States. Additionally, cloves find applications in traditional medicine, particularly in alleviating dental pain and as essential oils for aromatherapy.
The top five cloves exporters, namely Madagascar, Singapore, Indonesia, Tanzania, and Comoros, collectively contributed to 86% of the global cloves exports in 2022.
In terms of continental distribution, African countries dominated the global cloves market by supplying cloves worth $340.6 million, accounting for 59.6% of the total exports. Asian exporters followed with a share of 34.3%, trailed by Europe (4.2%) and Latin America (1.5%), excluding Mexico but including the Caribbean. Smaller proportions originated from North America (0.4%) and Oceania, including Australia, Fiji, and New Zealand (0.01%).
When it comes to imports, Indonesia, India, Singapore, the United Arab Emirates, and the United States emerged as the top importers in 2022, collectively contributing to 74.6% of the global imports.
Analyzing the distribution of imports by continent, Asia emerged as the primary destination, receiving 83.4% of the cloves imported globally, followed by Europe (7.1%), North America (4.5%), Latin America (2.6%), Africa (2.2%), and Oceania (0.3%), led by Australia.
The average unit price paid for imported cloves in 2022 was $5,626 per ton, reflecting a 22.7% increase from the previous year's average price.
Cloves exports are categorized into two primary segments: uncrushed and non-ground cloves (97.2%) and crushed or ground cloves (2.8%).
Leading Cloves Exporters by Nation
Here's a list of the top 20 countries that exported the highest value of cloves in 2022:
1. Madagascar: US$272 million (47.6% of total exports)
2. Singapore: $94.7 million (16.6%)
3. Indonesia: $56.9 million (9.9%)
4. Tanzania: $42.1 million (7.4%)
5. Comoros: $26.3 million (4.6%)
6. Sri Lanka: $20.2 million (3.5%)
7. India: $14 million (2.4%)
8. Brazil: $8.3 million (1.5%)
9. Netherlands: $7.1 million (1.2%)
10. Germany: $5.4 million (0.9%)
11. China: $5.1 million (0.9%)
12. Spain: $2.4 million (0.4%)
13. Vietnam: $2 million (0.4%)
14. France: $1.74 million (0.3%)
15. United States: $1.66 million (0.3%)
16. United Kingdom: $1.3 million (0.2%)
17. United Arab Emirates: $1.2 million (0.2%)
18. Austria: $1.2 million (0.2%)
19. Latvia: $1.1 million (0.2%)
20. Turkey: $939,000 (0.2%)
These 20 countries accounted for 98.9% of the total cloves exports in 2022.
Among these exporters, the United States of America, the United Kingdom, Vietnam, and the Netherlands demonstrated the fastest growth in cloves exports since 2021.
On the other hand, several major suppliers experienced declines in their cloves export revenues, led by the United Arab Emirates, Sri Lanka, Indonesia, Tanzania, and Turkey.
Leading Cloves Importers by Nation
Here are the top 20 countries that imported the highest value of cloves in 2022:
1. Indonesia: US$222.6 million (35% of total imports)
2. India: $113.8 million (17.9%)
3. Singapore: $90.5 million (14.2%)
4. United Arab Emirates: $26.3 million (4.1%)
5. United States: $21.2 million (3.3%)
6. Saudi Arabia: $20.9 million (3.3%)
7. Malaysia: $12 million (1.9%)
8. Germany: $8.5 million (1.3%)
9. China: $8.1 million (1.3%)
10. Pakistan: $7.4 million (1.2%)
11. Netherlands: $6.1 million (1%)
12. Vietnam: $5.6 million (0.9%)
13. Bangladesh: $5.4 million (0.9%)
14. Egypt: $5.2 million (0.8%)
15. Dominican Republic: $4.8 million (0.8%)
16. United Kingdom: $4.6 million (0.7%)
17. France: $3.9 million (0.6%)
18. Mexico: $3.8 million (0.6%)
19. Russia: $3.7 million (0.6%)
20. Japan: $3.4 million (0.5%)
These countries collectively accounted for 90.9% of the total cloves imports in 2022.
Vietnam, Indonesia, Malaysia, and Mexico experienced the most significant growth in cloves imports since 2021, while Bangladesh, Pakistan, India, France, and the United Arab Emirates saw declines in their imports.
Variations in Unit Prices for Imported Cloves
The average unit price for imported cloves worldwide increased to US$7,278 per ton in 2022, up by 22.7% compared to $5,626 in 2021.
Indonesia, as the top importer, paid an average unit price of $8,865 per ton for cloves in 2022.
Among the countries paying the lowest average unit prices for imported cloves in 2022 were Tanzania, the Democratic Republic of the Congo, Mauritania, Liberia, and Senegal. Conversely, Luxembourg, North Macedonia, and Slovenia were among those paying the highest average unit prices.
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