Finland: Clove Market 2025

Clove Market Size in Finland

The Finnish clove market dropped dramatically to $X in 2022, with a decrease of -15.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a perceptible slump. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Clove Exports

Exports from Finland

In 2022, overseas shipments of cloves increased by 73% to X kg, rising for the second year in a row after two years of decline. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 485%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, clove exports soared to $X in 2022. Overall, exports enjoyed strong growth. The growth pace was the most rapid in 2014 with an increase of 175% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X kg) was the main destination for clove exports from Finland, with a 73% share of total exports. Moreover, clove exports to Sweden exceeded the volume sent to the second major destination, Estonia (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +39.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+8.3% per year) and Belarus (0.0% per year).

In value terms, Sweden ($X), Estonia ($X) and Belarus ($X) appeared to be the largest markets for clove exported from Finland worldwide, together accounting for 100% of total exports.

Sweden, with a CAGR of +40.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, dropping by -17.1% against the previous year. In general, the export price continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2015 an increase of 48% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Clove Imports

Imports into Finland

For the third year in a row, Finland recorded decline in purchases abroad of cloves, which decreased by -17.3% to X tons in 2022. In general, imports recorded a noticeable reduction. The pace of growth was the most pronounced in 2019 with an increase of 143%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, clove imports contracted to $X in 2022. Over the period under review, imports showed a perceptible reduction. The pace of growth was the most pronounced in 2019 with an increase of 91%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest clove supplier to Finland, accounting for a 51% share of total imports. Moreover, clove imports from Indonesia exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Sri Lanka (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.3% per year) and Sri Lanka (+69.9% per year).

In value terms, the largest clove suppliers to Finland were Indonesia ($X), Germany ($X) and Sweden ($X), with a combined 79% share of total imports. Sri Lanka, Vietnam, Madagascar and Comoros lagged somewhat behind, together accounting for a further 19%.

Sri Lanka, with a CAGR of +63.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, surging by 8.3% against the previous year. Over the period under review, the import price, however, continues to indicate a slight contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 41% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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