Eastern Europe: Clove Market 2024

Clove Market Size in Eastern Europe

In 2022, the East European clove market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted resilient growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Clove Production in Eastern Europe

In value terms, clove production soared to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable contraction. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Latvia (X tons) remains the largest clove producing country in Eastern Europe, accounting for X% of total volume.

In Latvia, clove production remained relatively stable over the period from 2012-2022.

Clove Exports

Exports in Eastern Europe

For the third consecutive year, Eastern Europe recorded growth in overseas shipments of cloves, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of X%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, clove exports rose markedly to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Latvia (X tons) was the major exporter of cloves, comprising X% of total exports. It was distantly followed by Poland (X tons), Estonia (X tons), Romania (X tons) and Russia (X tons), together committing a X% share of total exports. The following exporters - the Czech Republic (X tons) and Slovakia (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to clove exports from Latvia stood at X%. At the same time, Romania (X%), Slovakia (X%), the Czech Republic (X%) and Poland (X%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2022. Russia and Estonia experienced a relatively flat trend pattern. Latvia (X p.p.) and Romania (X p.p.) significantly strengthened its position in terms of the total exports, while Russia, Poland and Estonia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Latvia ($X), Poland ($X) and Romania ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Romania, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, approximately mirroring the previous year. In general, the export price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Romania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced mixed trends in the export price figures.

Clove Imports

Imports in Eastern Europe

For the third consecutive year, Eastern Europe recorded growth in supplies from abroad of cloves, which increased by X% to X tons in 2022. Over the period under review, imports posted resilient growth. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, clove imports skyrocketed to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

Russia was the major importer of cloves in Eastern Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Poland (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Latvia (X%), Ukraine (X%) and the Czech Republic (X%). The following importers - Hungary (X tons) and Romania (X tons) - each reached a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to clove imports into Russia stood at X%. At the same time, Latvia (X%), Romania (X%), Poland (X%), Hungary (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. Ukraine experienced a relatively flat trend pattern. While the share of Russia (X p.p.) and Latvia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Czech Republic (X p.p.), Poland (X p.p.) and Ukraine (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported cloves in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with an X% share of total imports. It was followed by Latvia, with an X% share.

In Russia, clove imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Poland (X% per year) and Latvia (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Czech Republic ($X per ton) and Romania ($X per ton), while Latvia ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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