Malaysia: Clove Market 2024

Clove Market Size in Malaysia

The Malaysian clove market shrank to $X in 2022, falling by X% against the previous year. In general, consumption, however, recorded a modest expansion. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Clove Production in Malaysia

In value terms, clove production reached $X in 2022 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

In 2022, the average clove yield in Malaysia dropped significantly to X kg per ha, reducing by X% compared with 2021. In general, the yield saw a pronounced decrease. The growth pace was the most rapid in 2021 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then contracted markedly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the clove harvested area in Malaysia stood at X ha, approximately reflecting the previous year. Overall, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to clove production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Clove Exports

Exports from Malaysia

In 2022, the amount of cloves exported from Malaysia shrank dramatically to X tons, declining by X% compared with the previous year's figure. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, clove exports declined sharply to $X in 2022. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Thailand (X tons), Hong Kong SAR (X tons) and New Zealand (X tons) were the main destinations of clove exports from Malaysia, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), New Zealand ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for clove exported from Malaysia worldwide, with a combined X% share of total exports.

New Zealand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, declining by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Hong Kong SAR ($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 South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Clove Imports

Imports into Malaysia

In 2022, imports of cloves into Malaysia soared to X tons, picking up by X% against the previous year's figure. Overall, imports recorded a moderate increase. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, clove imports soared to $X in 2022. In general, imports posted mild growth. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Madagascar (X tons) constituted the largest clove supplier to Malaysia, with a X% share of total imports. Moreover, clove imports from Madagascar exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Madagascar stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Indonesia (X% per year).

In value terms, Madagascar ($X) constituted the largest supplier of cloves to Malaysia, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Madagascar amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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