U.S.: Clove Market Overview 2020

Clove Market Size in the U.S.

The revenue of the clove market in the U.S. amounted to $X in 2018, going down 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). In general, clove consumption, however, continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, the clove market reached its maximum level at $X in 2013; however, from 2014 to 2018, consumption remained at a lower figure.

Clove Exports

Exports from the U.S.

In 2018, the amount of cloves exported from the U.S. amounted to X tonnes, picking up by X% against the previous year. In general, clove exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2012 with an increase of X% against the previous year. Exports peaked at X tonnes in 2014; however, from 2015 to 2018, exports failed to regain their momentum.

In value terms, clove exports totaled $X in 2018. In general, clove exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. Over the period under review, clove exports attained their peak figure at $X in 2014; however, from 2015 to 2018, exports remained at a lower figure.

Exports by Country

Canada (X tonnes) was the main destination for clove exports from the U.S., with a X% share of total exports. Moreover, clove exports to Canada exceeded the volume sent to the second major destination, India (X tonnes), threefold. Panama (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual growth rate of volume to Canada stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+X% per year) and Panama (+X% per year).

In value terms, Canada ($X) remains the key foreign market for clove exports from the U.S., comprising X% of total clove exports. The second position in the ranking was occupied by India ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to Canada totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-X% per year) and Panama (+X% per year).

Export Prices by Country

In 2018, the average clove export price amounted to $X per tonne, surging by X% against the previous year. In general, the clove export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when the average export price increased by X% y-o-y. In that year, the average export prices for cloves attained their peak level of $X per tonne. From 2011 to 2018, the growth in terms of the average export prices for cloves remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Mexico ($X per tonne), while the average price for exports to Antigua and Barbuda ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain, while the prices for the other major destinations experienced more modest paces of growth.

Clove Imports

Imports into the U.S.

In 2018, approx. X tonnes of cloves were imported into the U.S.; lowering by -X% against the previous year. Over the period under review, clove imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2012 when imports increased by X% year-to-year. Over the period under review, clove imports reached their maximum at X tonnes in 2013; however, from 2014 to 2018, imports remained at a lower figure.

In value terms, clove imports stood at $X in 2018. In general, clove imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2011 with an increase of X% year-to-year. Over the period under review, clove imports reached their maximum at $X in 2013; however, from 2014 to 2018, imports failed to regain their momentum.

Imports by Country

Indonesia (X tonnes), Madagascar (X tonnes) and Sri Lanka (X tonnes) were the main suppliers of clove imports to the U.S., together comprising X% of total imports. Brazil, India, Comoros and Canada lagged somewhat behind, together comprising a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by India, while the other leaders experienced more modest paces of growth.

In value terms, the largest clove suppliers to the U.S. were Indonesia ($X), Madagascar ($X) and Sri Lanka ($X), with a combined X% share of total imports. India, Brazil, Comoros and Canada lagged somewhat behind, together comprising a further X recorded the highest growth rate of imports, among the main suppliers over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average clove import price amounted to $X per tonne, picking up by X% against the previous year. In general, the clove import price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2011 an increase of X% against the previous year. Over the period under review, the average import prices for cloves reached their peak figure at $X per tonne in 2015; however, from 2016 to 2018, import prices failed to regain their momentum.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Madagascar, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform