Russian Federation: Clove Market 2024

Clove Market Size in the Russian Federation

After two years of decline, the Russian clove market increased by 4.7% to $X in 2022. In general, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 -22.8% against 2019 indices. Clove consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Clove Exports

Exports from the Russian Federation

In 2022, clove exports from Russia reached X tons, standing approx. at the previous year. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 106% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, clove exports surged to $X in 2022. Overall, exports enjoyed a tangible increase. The growth pace was the most rapid in 2020 when exports increased by 73%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belarus (X tons), Kazakhstan (X tons) and Ukraine (X tons) were the main destinations of clove exports from Russia, with a combined 89% share of total exports. Georgia, Tajikistan and Kyrgyzstan lagged somewhat behind, together comprising a further 9.3%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tajikistan (with a CAGR of +91.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for clove exported from Russia were Kazakhstan ($X), Belarus ($X) and Ukraine ($X), with a combined 83% share of total exports. Georgia, Kyrgyzstan and Tajikistan lagged somewhat behind, together comprising a further 15%.

Among the main countries of destination, Tajikistan, with a CAGR of +116.2%, 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

The average clove export price stood at $X per ton in 2022, picking up by 24% against the previous year. In general, the export price, however, recorded a abrupt descent. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while the average price for exports to Belarus ($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 Tajikistan (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Clove Imports

Imports into the Russian Federation

In 2022, approx. X tons of cloves were imported into Russia; growing by 11% on 2021. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 47% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, clove imports expanded modestly to $X in 2022. Overall, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 -22.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 57%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Madagascar (X tons), Comoros (X tons) and Indonesia (X tons) were the main suppliers of clove imports to Russia, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +48.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Madagascar ($X) constituted the largest supplier of cloves to Russia, comprising 58% of total imports. The second position in the ranking was held by Comoros ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Madagascar amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Comoros (-0.7% per year) and Indonesia (+49.6% per year).

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, with a decrease of -8.6% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, clove import price increased by +8.6% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 25% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Madagascar ($X per ton), while the price for Comoros ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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