Asia: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Asia

The Asian nutmeg, mace and cardamom market expanded slightly to $X in 2022, growing by X% against the previous year. Overall, consumption saw strong growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Nutmeg, Mace And Cardamoms in Asia

In value terms, nutmeg, mace and cardamom production soared to $X in 2022 estimated in export price. In general, production enjoyed a strong increase. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the immediate term.

The countries with the highest volumes of production in 2022 were India (X tons), Indonesia (X tons) and the United Arab Emirates (X tons), together accounting for X% of total production.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average nutmeg, mace and cardamom yield expanded remarkably to X kg per ha in 2022, growing by X% on 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2016 when the yield increased by X% against the previous year. Over the period under review, the nutmeg, mace and cardamom yield reached the peak level in 2022 and is likely to see gradual growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of nutmeg, mace and cardamoms in Asia was estimated at X ha, flattening at the year before. The total harvested area indicated a notable increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nutmeg, mace and cardamom harvested area decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the harvested area dedicated to nutmeg, mace and cardamom production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

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Exports of Nutmeg, Mace And Cardamoms

Exports in Asia

In 2022, shipments abroad of nutmeg, mace and cardamoms increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, nutmeg, mace and cardamom exports stood at $X in 2022. In general, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Indonesia was the largest exporter of nutmeg, mace and cardamoms in Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by India (X%) and Nepal (X%). The following exporters - Vietnam (X tons) and Sri Lanka (X tons) - each amounted to a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to nutmeg, mace and cardamom exports from Indonesia stood at X%. At the same time, the United Arab Emirates (X%), Vietnam (X%), Sri Lanka (X%), India (X%) and Nepal (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), India ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, falling by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in Asia

Nutmeg, mace and cardamom imports amounted to X tons in 2022, with an increase of X% against the previous year. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, nutmeg, mace and cardamom imports shrank to $X in 2022. Over the period under review, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by the United Arab Emirates (X tons), India (X tons), Saudi Arabia (X tons) and Bangladesh (X tons) were the main importers of nutmeg, mace and cardamoms, together creating X% of total imports. Pakistan (X tons), Jordan (X tons), Vietnam (X tons), Kuwait (X tons), Yemen (X tons) and Turkey (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and China ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, shrinking by X% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nutmeg, mace and cardamom import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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