Clove export spikes up in Tanzania

According to the Bank of Tanzania’s Monthly Economic Review, Annual clove export earnings increased more than seven-fold in the year to September 30, 2020, as volume outpaced the price of the product which holds a significant share of Zanzibar exports.
Cloves generated $17.6 million in foreign earnings, up from $2.3 million earned in the year ending September 2019. The surge was pushed up by an increase in clove export volumes which reached 3,700 tonnes in September 2020 compared with 300 tonnes exported during the same period last year.
However, the report shows that the unit price per tonne of cloves had decreased by nearly 30 percent. The produce sold at an average price of $4,754.4 per tonne in September 2020 compared to $6,800 as recorded in the previous year, mainly due to subdued demand.