Luxembourg: Clove Market 2024

Clove Market Size in Luxembourg

The Luxembourg clove market contracted sharply to $X in 2022, falling by X% 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, consumption recorded a perceptible shrinkage. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Clove Exports

Exports from Luxembourg

In 2022, shipments abroad of cloves decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of X kg. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, clove exports shrank to $X in 2022. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank in the following year.

Exports by Country

Belgium (X kg) was the main destination for clove exports from Luxembourg, accounting for a X% share of total exports. Moreover, clove exports to Belgium exceeded the volume sent to the second major destination, France (X kg), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Germany (X% per year).

In value terms, Belgium ($X) remains the key foreign market for cloves exports from Luxembourg, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Germany (X% per year).

Export Prices by Country

The average clove export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, clove export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 France ($X per ton), while the average price for exports to Belgium ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Clove Imports

Imports into Luxembourg

In 2022, the amount of cloves imported into Luxembourg reduced notably to X kg, waning by X% against 2021 figures. Over the period under review, imports showed a slight decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, clove imports dropped notably to $X in 2022. Overall, imports continue to indicate a slight curtailment. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, Germany (X kg) constituted the largest supplier of clove to Luxembourg, with a X% share of total imports. Moreover, clove imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X kg), threefold. The third position in this ranking was taken by France (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and France (X% per year).

In value terms, the largest clove suppliers to Luxembourg were Germany ($X), France ($X) and the Netherlands ($X), with a combined X% share of total imports. Belgium and Portugal lagged somewhat behind, together accounting for a further X%.

Portugal, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Portugal ($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 Netherlands (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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