Greece: Clove Market 2025

Clove Market Size in Greece

The Greek clove market expanded markedly to $X in 2022, with an increase of 14% 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, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.7% against 2020 indices. Clove consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Clove Exports

Exports from Greece

Clove exports from Greece declined to X tons in 2022, falling by -7.5% compared with the previous year's figure. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 37% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, clove exports declined to $X in 2022. In general, exports recorded a noticeable descent. The most prominent rate of growth was recorded in 2019 when exports increased by 20%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cyprus (X tons) was the main destination for clove exports from Greece, with a 78% share of total exports. Moreover, clove exports to Cyprus exceeded the volume sent to the second major destination, Albania (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus amounted to -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+34.4% per year) and Ireland (+64.2% per year).

In value terms, Cyprus ($X) remains the key foreign market for cloves exports from Greece, comprising 88% of total exports. The second position in the ranking was taken by Albania ($X), with a 6.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Cyprus amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+18.9% per year) and Ireland (+59.9% per year).

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, with a decrease of -1.8% against the previous year. In general, the export price saw a noticeable slump. The pace of growth was the most pronounced in 2016 when the average export price increased by 47% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Albania ($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 Cyprus (-1.2%), while the prices for the other major destinations experienced a decline.

Clove Imports

Imports into Greece

In 2022, the amount of cloves imported into Greece dropped to X tons, standing approx. at 2021 figures. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 72%. 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 skyrocketed to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 50% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Madagascar (X tons) constituted the largest clove supplier to Greece, with a 48% share of total imports. Moreover, clove imports from Madagascar exceeded the figures recorded by the second-largest supplier, Comoros (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Madagascar totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Comoros (-10.7% per year) and Germany (+46.6% per year).

In value terms, Madagascar ($X) constituted the largest supplier of cloves to Greece, comprising 48% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by Comoros, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Madagascar stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+41.6% per year) and Comoros (-13.7% per year).

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, picking up by 25% against the previous year. Overall, the import price, however, saw a perceptible curtailment. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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