Vietnam - Cloves - Market Analysis, Forecast, Size, Trends and Insights
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View PricingClove Price in Vietnam - 2021
Contents:
- Clove Price in Vietnam (FOB) - 2021
- Clove Price in Vietnam (CIF) - 2022
- Clove Exports in Vietnam
- Clove Imports in Vietnam
Clove Price in Vietnam (FOB) - 2021
In December 2021, the average clove export price amounted to $9,310 per ton, picking up by 8.6% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2021 when the average export price increased by 10% month-to-month. The export price peaked at $9,585 per ton in September 2021; however, from October 2021 to December 2021, the export prices failed to regain momentum.
Average prices varied noticeably for the major external markets. In December 2021, the highest price was recorded for prices to Germany ($9,582 per ton) and the Netherlands ($9,581 per ton), while the average price for exports to South Korea ($8,205 per ton) and Australia ($9,202 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Clove Price in Vietnam (CIF) - 2022
In 2022, the average clove import price amounted to $6,418 per ton, which is down by -5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2018 an increase of 16% against the previous year. As a result, import price attained the peak level of $8,626 per ton. From 2019 to 2022, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sri Lanka ($6,486 per ton) and China ($6,479 per ton), while the price for Indonesia ($6,409 per ton) and India ($6,478 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Clove Exports in Vietnam
In 2022, after three years of growth, there was decline in shipments abroad of cloves, when their volume decreased by -4.8% to 365 tons. The total export volume increased at an average annual rate of +8.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year.
In value terms, clove exports contracted slightly to $1.5M in 2022. In general, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 11%.
| Export of Clove in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 0.4 | 2.1 | 2.3 | 225 | 725.5% |
| Sweden | 210 | 157 | 140 | 159 | -8.9% |
| Netherlands | 308 | 226 | 286 | 144 | -22.4% |
| United States | 337 | 30.0 | 214 | 111 | -30.9% |
| Pakistan | 28.8 | 2.0 | 18.2 | 86.0 | 44.0% |
| United Kingdom | 44.8 | 33.4 | 129 | 83.5 | 23.1% |
| Indonesia | N/A | 68.2 | 84.0 | 72.0 | 2.7% |
| Australia | 111 | 123 | 54.2 | 63.2 | -17.1% |
| South Africa | 104 | 166 | 187 | 57.1 | -18.1% |
| Nigeria | N/A | N/A | N/A | 26.1 | 0% |
| Kazakhstan | N/A | N/A | N/A | 2.3 | 0% |
| Others | 773 | 614 | 459 | 469 | -15.3% |
| Total | 1,918 | 1,422 | 1,574 | 1,498 | -7.9% |
Top Export Markets for Clove from Vietnam in 2022:
- Pakistan (70.8 tons)
- Singapore (41.5 tons)
- Netherlands (27.4 tons)
- Sweden (24.2 tons)
- United States (22.3 tons)
- Nigeria (20.4 tons)
- Australia (17.9 tons)
- Kazakhstan (15.6 tons)
- United Kingdom (15.5 tons)
- Indonesia (14.4 tons)
- South Africa (13.7 tons)
Clove Imports in Vietnam
In 2022, the amount of cloves imported into Vietnam expanded markedly to 207 tons, increasing by 9.7% compared with 2021 figures. Overall, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +12.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 54% against the previous year. As a result, imports attained the peak of 226 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, clove imports totaled $1.3M in 2022. The total import value increased at an average annual rate of +5.4% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 21%. As a result, imports attained the peak of $1.4M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Clove in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 898 | 1,213 | 1,052 | 1,151 | 8.6% |
| China | 1.3 | 13.0 | 97.4 | 108 | 336.3% |
| India | 8.3 | 25.9 | 39.8 | 44.1 | 74.5% |
| Sri Lanka | 25.8 | 25.2 | 22.6 | 26.8 | 1.3% |
| Tanzania | 190 | N/A | 1.9 | N/A | -90.0% |
| Brazil | N/A | 98.9 | N/A | N/A | 0% |
| Others | 11.6 | N/A | 70.1 | N/A | 145.8% |
| Total | 1,135 | 1,376 | 1,284 | 1,330 | 5.4% |
Top Suppliers of Clove to Vietnam in 2022:
- Indonesia (179.6 tons)
- China (16.7 tons)
- India (6.8 tons)
- Sri Lanka (4.1 tons)
This report provides an in-depth analysis of the clove market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 698 - Cloves
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the clove market in Vietnam.
6900
This report provides an in-depth analysis of the global clove market.
674
This report provides an in-depth analysis of the clove market in Vietnam.
6900
This report provides an in-depth analysis of the global clove market.
3033
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5086
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4663
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6637
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1892
Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
3033
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5086
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4663
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6637
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1892
Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
