South-Eastern Asia: Clove Market 2024

Clove Market Size in South-Eastern Asia

In 2022, the Southeast Asian clove market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Clove Production in South-Eastern Asia

In value terms, clove production fell modestly to $X in 2022 estimated in export price. The total production indicated moderate growth 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, production 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. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Indonesia (X tons) remains the largest clove producing country in South-Eastern Asia, comprising approx. X% of total volume. It was followed by Singapore (X tons), with a X% share of total production.

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia totaled X%.

The average clove yield reached X kg per ha in 2022, standing approx. at 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the clove yield reached the peak level at X kg per ha in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cloves production in South-Eastern Asia amounted to X ha, flattening at 2021 figures. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the harvested area dedicated to clove production reached the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Clove Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of cloves were exported in South-Eastern Asia; which is down by X% against 2021 figures. Overall, exports, however, enjoyed a measured increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, clove exports expanded sharply to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) and Indonesia (X tons) represented roughly X% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Indonesia (with a CAGR of X%).

In value terms, Singapore ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, showed a mild setback. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%).

Clove Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of cloves increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, imports showed a prominent increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, clove imports surged to $X in 2022. Over the period under review, imports continue to indicate noticeable growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Indonesia was the major importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Singapore (X tons), generating a X% share of total imports. Malaysia (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the cloves imports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) and Singapore (X%) displayed positive paces of growth. While the share of Indonesia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) constitutes the largest market for imported cloves in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports.

In Indonesia, clove imports expanded 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: Singapore (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a pronounced slump. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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