Updated Jan 22, 2023 04:19

Clove Market in Qatar

Market Overview
In , after eight years of growth, there was significant decline in the Qatari clove market, when its value decreased by -% to $. Over the period under review, consumption, however, showed a noticeable expansion. Clove consumption peaked at $ in , and then fell markedly in the following year.


Consumption
In , after eight years of growth, there was significant decline in consumption of cloves, when its volume decreased by -% to tons. Overall, consumption showed a slight setback. Over the period under review, consumption attained the maximum volume at tons in , and then dropped sharply in the following year.

The revenue of the clove market in Qatar fell significantly to $ in , which is down by -% 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). Over the period under review, consumption, however, saw notable growth. Clove consumption peaked at $ in , and then plummeted in the following year.


Market Forecast
Driven by rising demand for clove in Qatar, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Clove market in Qatar consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, Qatar relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Qatar remains a net importer of clove; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.