Western Africa: Clove Market 2024

Clove Market Size in Western Africa

In 2022, the West African clove market decreased by X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, posted strong growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Clove Production in Western Africa

In value terms, clove production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Togo (X tons), Senegal (X tons) and Guinea-Bissau (X tons), together comprising X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Togo (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Clove Exports

Exports in Western Africa

For the third year in a row, Western Africa recorded growth in shipments abroad of cloves, which increased by X% to X tons in 2022. Overall, exports saw a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, clove exports expanded notably to $X in 2022. In general, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Ghana (X tons), Togo (X tons), Sierra Leone (X tons) and Senegal (X tons), together reaching X% of total export. Cote d'Ivoire (X kg) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X) remains the largest clove supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Sierra Leone totaled X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, which is down by X% against the previous year. Overall, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced a decline in the export price figures.

Clove Imports

Imports in Western Africa

In 2022, purchases abroad of cloves decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, clove imports shrank remarkably to $X in 2022. Overall, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Ghana represented the largest importer of cloves in Western Africa, with the volume of imports recording X tons, which was near X% of total imports in 2022. It was distantly followed by Senegal (X tons) and Nigeria (X tons), together comprising a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ghana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported cloves in Western Africa, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with an X% share of total imports.

In Ghana, clove imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :