Colombia: Clove Market Overview 2021

Clove Market Size in Colombia

In 2019, the Colombian clove market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption saw buoyant growth. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Clove consumption peaked at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Clove Exports

Exports from Colombia

In 2019, overseas shipments of cloves decreased by -X% to X kg, falling for the second year in a row after six years of growth. Overall, exports showed a sharp decrease. The pace of growth was the most pronounced in 2017 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at X tonnes in 2010; however, from 2011 to 2019, exports remained at a lower figure.

In value terms, clove exports dropped rapidly to $X in 2019. Over the period under review, exports recorded a deep slump. The growth pace was the most rapid in 2017 when exports increased by X% year-to-year. Over the period under review, exports attained the peak figure at $X in 2007; however, from 2008 to 2019, exports remained at a lower figure.

Exports by Country

Bahrain (X kg) was the main destination for clove exports from Colombia, with a approx. X% share of total exports.

From 2007 to 2018, the average annual rate of growth in terms of volume to Bahrain totaled -X%.

From 2007 to 2018, the average annual growth rate of value to Bahrain was relatively modest.

Export Prices by Country

In 2018, the average clove export price amounted to $X per tonne, jumping by X% against the previous year. In general, the export price saw a resilient increase. The pace of growth appeared the most rapid in 2017 an increase of X% y-o-y. The export price peaked in 2018 and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Bahrain.

From 2007 to 2018, the rate of growth in terms of prices for Bahrain amounted to +X% per year.

Clove Imports

Imports into Colombia

In 2019, overseas purchases of cloves increased by X% to X tonnes, rising for the second year in a row after two years of decline. Over the period under review, imports showed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of X% year-to-year. Imports peaked in 2019 and are likely to see gradual growth in the near future.

In value terms, clove imports rose notably to $X in 2019. Overall, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2012 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Brazil (X tonnes) constituted the largest clove supplier to Colombia, accounting for a X% share of total imports. Moreover, clove imports from Brazil exceeded the figures recorded by the second-largest supplier, Singapore (X tonnes), fourfold. The third position in this ranking was occupied by Madagascar (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Brazil totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-X% per year) and Madagascar (-X% per year).

In value terms, Brazil ($X) constituted the largest supplier of clove to Colombia, comprising X% of total imports. The second position in the ranking was occupied by Singapore ($X), with a X% share of total imports. It was followed by Madagascar, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Brazil stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-X% per year) and Madagascar (-X% per year).

Import Prices by Country

The average clove import price stood at $X per tonne in 2019, dropping by -X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 an increase of X% y-o-y. As a result, import price attained the peak level of $X per tonne. From 2013 to 2019, the growth in terms of the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Indonesia ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cloves in the world?

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Indonesia (134K tonnes) constituted the country with the largest volume of clove consumption, accounting for 62% of total volume. Moreover, clove consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India (18K tonnes), sevenfold. Madagascar (13K tonnes) ranked third in terms of total consumption with a 5.8% share.

What are the largest producers of cloves in the world?

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Indonesia (135K tonnes) constituted the country with the largest volume of clove production, accounting for 70% of total volume. Moreover, clove production in Indonesia exceeded the figures recorded by the second-largest producer, Madagascar (23K tonnes), sixfold. The third position in this ranking was occupied by Tanzania (9K tonnes), with a 4.7% share.

What are the leading suppliers of cloves to Colombia?

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In value terms, Brazil ($617K) constituted the largest supplier of clove to Colombia, comprising 59% of total imports. The second position in the ranking was occupied by Singapore ($170K), with a 16% share of total imports. It was followed by Madagascar, with a 12% share.

What is the average export price for cloves in Colombia?

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In 2018, the average clove export price amounted to $9,933 per tonne, with an increase of 19% against the previous year.

What is the average import price for cloves in Colombia?

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In 2019, the average clove import price amounted to $6,990 per tonne, waning by -6.1% against the previous year.