Thailand: Clove Market 2025

Clove Market Size in Thailand

The Thai clove market totaled $X in 2022, growing by 12% 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). Overall, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +45.0% against 2020 indices. Clove consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Clove Exports

Exports from Thailand

In 2022, the amount of cloves exported from Thailand skyrocketed to X kg, with an increase of 100% on the previous year. Overall, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 234,200%. 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 shrank remarkably to $X in 2022. In general, exports, however, saw a precipitous decrease. The growth pace was the most rapid in 2020 with an increase of 663,625%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X kg), Japan (X kg) and China (X kg) were the main destinations of clove exports from Thailand. Moreover, clove exports in Myanmar exceeded the figures recorded by the second-largest exporter, Japan, twofold.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, Myanmar ($X) emerged as the key foreign market for cloves exports from Thailand, comprising 93% of total exports. The second position in the ranking was held by Japan ($X), with a 3.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar amounted to -43.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-14.3% per year) and China (-37.7% per year).

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, falling by -59.1% against the previous year. In general, the export price, however, posted a prominent increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 2,966% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Japan ($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 China (+29.4%), while the prices for the other major destinations experienced a decline.

Clove Imports

Imports into Thailand

In 2022, the amount of cloves imported into Thailand shrank to X tons, which is down by -10.4% on 2021 figures. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, clove imports skyrocketed to $X in 2022. Over the period under review, total imports 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, imports increased by +70.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Indonesia (X tons), China (X tons) and India (X tons) were the main suppliers of clove imports to Thailand, with a combined 99% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +30.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X), China ($X) and India ($X) constituted the largest clove suppliers to Thailand, together comprising 99% of total imports.

Among the main suppliers, India, with a CAGR of +24.6%, recorded the highest growth rate of 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

The average clove import price stood at $X per ton in 2022, with an increase of 40% against the previous year. Overall, import price indicated a mild increase 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 +70.8% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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