South-Eastern Asia: Clove Market 2025

Clove Market Size in South-Eastern Asia

In 2022, the Southeast Asian clove market increased by 4.5% 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 +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Clove Production in South-Eastern Asia

In value terms, clove production shrank modestly to $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +3.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 87% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Indonesia (X tons) constituted the country with the largest volume of clove production, accounting for 98% of total volume. It was followed by Singapore (X tons), with a 1.9% share of total production.

In Indonesia, clove production increased at an average annual rate of +3.6% over the period from 2012-2022.

In 2022, the average clove yield in South-Eastern Asia rose to X kg per ha, increasing by 2.7% compared with 2021 figures. The yield figure increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the yield increased by 17%. The level of yield peaked 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 totaled X ha in 2022, standing approx. at the previous year's figure. The harvested area increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 6%. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

Clove Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of cloves were exported in South-Eastern Asia; with a decrease of -10.3% compared with 2021. Over the period under review, exports, however, recorded temperate growth. The most prominent rate of growth was recorded in 2014 with an increase of 96%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, clove exports skyrocketed to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 87%. Over the period under review, the exports hit record highs 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 achieving 98% of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +3.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2022, with a combined 100% share of total exports.

Indonesia, with a CAGR of +9.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, increasing by 39% against the previous year. In general, the export price, however, showed a slight reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.0%), while the other leaders experienced a decline in the export price figures.

Clove Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of cloves increased by 43% to X tons, rising for the third year in a row after two years of decline. Overall, imports posted tangible growth. The pace of growth was the most pronounced in 2016 when imports increased by 103% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, clove imports soared to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 95% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Singapore was the major importer of cloves in South-Eastern Asia, with the volume of imports recording X tons, which was approx. 71% of total imports in 2022. Indonesia (X tons) ranks second in terms of the total imports with an 18% share, followed by Malaysia (8.7%).

From 2012 to 2022, average annual rates of growth with regard to clove imports into Singapore stood at +1.0%. At the same time, Indonesia (+25.7%) and Malaysia (+3.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +25.7% from 2012-2022. While the share of Indonesia (+15 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-15.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported cloves in South-Eastern Asia, comprising 70% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at -1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+28.9% per year) and Malaysia (-1.3% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 5.3% against the previous year. Over the period under review, the import price, however, recorded a perceptible descent. The pace of growth appeared the most rapid in 2021 an increase of 22% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat 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 Indonesia (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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