Canada - Cloves - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Mar 1, 2024

Canada - Cloves - Market Analysis, Forecast, Size, Trends and Insights

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Clove Price in Canada - 2023

Contents:

  1. Clove Price in Canada (CIF) - 2023
  2. Clove Price in Canada (FOB) - 2022
  3. Clove Imports in Canada
  4. Clove Exports in Canada

Clove Price in Canada (CIF) - 2023

The average clove import price stood at $8,152 per ton in June 2023, with an increase of 16% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 73% against the previous month. Over the period under review, average import prices hit record highs at $11,680 per ton in January 2023; however, from February 2023 to June 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In June 2023, the highest price was recorded for prices from India ($9,519 per ton) and Madagascar ($8,529 per ton), while the price for Indonesia ($7,559 per ton) and Sri Lanka ($7,707 per ton) were amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

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Clove Price in Canada (FOB) - 2022

In 2022, the average clove export price amounted to $8,718 per ton, surging by 9.9% against the previous year. Over the period under review, the export price showed a notable increase. The pace of growth appeared the most rapid in 2021 an increase of 55% against the previous year. Over the period under review, the average export prices attained the peak figure at $11,091 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($9,265 per ton), while the average price for exports to Trinidad and Tobago amounted to $2,785 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.3%).

Clove Imports in Canada

For the fourth consecutive year, Canada recorded growth in overseas purchases of cloves, which increased by 21% to 400 tons in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +17.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, clove imports skyrocketed to $3.4M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +19.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Clove in Canada (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Indonesia6526247241,10619.3%
India50641182797224.3%
Madagascar96.127717859583.6%
Sri Lanka20523423630814.5%
United States25510894.8106-25.4%
China17039.670.167.6-26.5%
Others97.128828124636.3%
Total1,9811,9822,4113,40219.8%

Top Suppliers of Clove to Canada in 2022:

  1. Indonesia (142.4 tons)
  2. India (102.1 tons)
  3. Madagascar (69.1 tons)
  4. Sri Lanka (35.6 tons)
  5. United States (19.3 tons)
  6. China (7.1 tons)

Clove Exports in Canada

In 2022, overseas shipments of cloves were finally on the rise to reach 94 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt descent.

In value terms, clove exports skyrocketed to $817K in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.0% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Clove in Canada (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
United States50645850879516.3%
Trinidad and Tobago11.923.6N/A22.022.7%
Others0.32.2N/A0.1-30.7%
Total51848450881716.4%

Top Export Markets for Clove from Canada in 2022:

  1. United States (85.8 tons)
  2. Trinidad and Tobago (7.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the clove market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 698 - Cloves

Country coverage:

  • Canada

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Canada
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023
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Blog
Event
Dramatic Increase in Canada's Import of Clove Reaches $442K in October 2023
Jan 26, 2024
Eye 118

From December 2022 to October 2023, there was a slight decrease in the growth of imports. In terms of value, clove imports increased significantly, reaching $442K in October 2023.

Which Country Consumes the Most Cloves in the World?
Feb 9, 2018
Eye 2991

Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.

Which Country Exports the Most Cloves in the World?
Feb 1, 2018
Eye 5062

Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.

Which Country Imports the Most Cloves in the World?
Jan 25, 2018
Eye 4642

Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.

Which Country Produces the Most Cloves in the World?
Oct 23, 2017
Eye 6588

In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.

Clove Market - Singapore’s Clove Exports Showed Impressive Growth in 2014
Sep 22, 2015
Eye 1873

Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports

Dramatic Increase in Canada's Import of Clove Reaches $442K in October 2023
Jan 26, 2024
Eye 118

From December 2022 to October 2023, there was a slight decrease in the growth of imports. In terms of value, clove imports increased significantly, reaching $442K in October 2023.

Which Country Consumes the Most Cloves in the World?
Feb 9, 2018
Eye 2991

Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.

Which Country Exports the Most Cloves in the World?
Feb 1, 2018
Eye 5062

Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.

Which Country Imports the Most Cloves in the World?
Jan 25, 2018
Eye 4642

Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.

Free Data: Cloves - Canada