(Ecofin Agency) - In Tanzania, export revenues from clove exports amounted to $54 million at the end of October 2016, $34.3 million more than in the same period the year before.

The surge in revenues results from an increase in the quantities of clove exported in 2016, knowingly 6,817 tons, thus 4 910 tons more than in 2015, according to data provided in the Economic Review of the Bank of Tanzania (BoT), in a context where global price of the commodity slumped, spurred by a lower demand.

In the first ten months of 2016, the price of a ton of cloves rose from $10,324 to $7,921, according to BoT’s data.

Tanzania is one of the world's largest producers of cloves.