Asia-Pacific: Clove Market 2025

Clove Market Size in Asia-Pacific

In 2022, the Asia-Pacific clove market decreased by -0.7% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2021, and then reduced slightly in the following year.

Clove Production in Asia-Pacific

In value terms, clove production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 69% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Indonesia (X tons) constituted the country with the largest volume of clove production, accounting for 93% of total volume. Moreover, clove production in Indonesia exceeded the figures recorded by the second-largest producer, Sri Lanka (X tons), more than tenfold.

In Indonesia, clove production increased at an average annual rate of +3.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sri Lanka (+3.9% per year) and Singapore (-11.2% per year).

In 2022, the average yield of cloves in Asia-Pacific reduced slightly to X kg per ha, standing approx. at the previous year. The yield figure increased at an average annual rate of +2.2% 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 15%. 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 remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The clove harvested area reached X ha in 2022, flattening at the year before. The harvested area increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 5.7% against the previous year. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Clove Exports

Exports in Asia-Pacific

In 2022, approx. X tons of cloves were exported in Asia-Pacific; falling by -18.5% compared with 2021. Overall, exports, however, posted a temperate increase. The growth pace was the most rapid in 2020 with an increase of 53%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, clove exports reached $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -14.5% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 39%. 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) prevails in exports structure, together generating 80% of total exports. Sri Lanka (X tons) ranks next in terms of the total exports with a 9.2% share, followed by India (6.7%). China (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +28.2%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Sri Lanka ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 89% of total exports. India and China lagged somewhat behind, together comprising a further 9.7%.

Among the main exporting countries, China, with a CAGR of +26.8%, recorded 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

The export price in Asia-Pacific stood at $X per ton in 2022, surging by 37% against the previous year. Over the period under review, the export price, however, showed a mild reduction. 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, major exporting countries recorded the following prices: in Sri Lanka ($X per ton) and Singapore ($X per ton), while Indonesia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.0%), while the other leaders experienced more modest paces of growth.

Clove Imports

Imports in Asia-Pacific

In 2022, approx. X tons of cloves were imported in Asia-Pacific; which is down by -5.8% against the previous year. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 64% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, clove imports expanded notably to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +60.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 53%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India represented the main importer of cloves in Asia-Pacific, with the volume of imports amounting to X tons, which was approx. 43% of total imports in 2022. Singapore (X tons) ranks second in terms of the total imports with a 28% share, followed by China (7.6%) and Indonesia (6.8%). The following importers - Bangladesh (X tons), Malaysia (X tons) and Pakistan (X tons) - together made up 11% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +33.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest clove importing markets in Asia-Pacific were India ($X), Singapore ($X) and Indonesia ($X), together accounting for 84% of total imports. Malaysia, Bangladesh, China and Pakistan lagged somewhat behind, together accounting for a further 12%.

In terms of the main importing countries, China, with a CAGR of +31.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by 15% against the previous year. In general, the import price, however, showed a noticeable descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+9.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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