Nutmeg, mace and cardamoms market in ASEAN

Earlier Report Observations

In 2018, the ASEAN nutmeg, mace and cardamoms market stood at $369.0 million, supported by notable growth in production and exports in key countries like Indonesia, where expanded harvested area and stable export flows maintained output. However, the market size dropped to $241.0 million in 2019 as exports continued to grow, reaching $212.8 million and reducing domestic availability. The COVID-19 pandemic in 2020 caused logistical disruptions across supply chains, yet exports rose further to $282.3 million, contributing to a decline in market volume to $203.3 million.

Post-pandemic, exports surged to $336.0 million in 2021, sharply cutting the market size to $115.0 million as more produce was shipped abroad. The entry of new players focusing on organic and high-quality segments reinforced this export-oriented dynamic. By 2022, the market shrank to $93.4 million with exports remaining high at $303.3 million, while global factors such as international price fluctuations and logistical costs weighed on the regional market. The contraction continued into 2023, with the market volume falling to $76.5 million.

Production nutmeg, mace and cardamoms in ASEAN

In kind, 2017-2020, t

Top producers of nutmeg, mace and cardamoms, 2017-2020

World map of production of nutmeg, mace and cardamoms, 2017-2020

Production of nutmeg, mace, and cardamoms in ASEAN declined for the second consecutive year. In 2020, ASEAN produced 46,252 tons, marking a controlled decline of 4.4% compared to the previous year. Between 2017 and 2020, production increased by 16.1%, which translates to an annualized growth rate of 5.1%. The highest production level was recorded in 2018 at 51,450 tons. The largest decline occurred in 2019, with a drop of 6.0%, while the largest increase was in 2018, with a rise of 29.2%.

Annual dynamics of production in ASEAN in kind, 2017-2020, t

In value, 2017-2020, M $ US

In 2020, the output of nutmeg, mace, and cardamoms in ASEAN was valued at 427.0 million US dollars, up by 5.6% from 2019. Over the period from 2017 to 2020, production value increased by 24.7%, with a compound annual growth rate (CAGR) of 7.6%. The peak value was recorded in 2018 at 500.5 million US dollars. The largest decline was in 2019, with a decrease of 19.2%, while the largest increase was in 2018, with a rise of 46.2%.

Annual dynamics of production in ASEAN in value, 2017-2020, M $ US

Exports nutmeg, mace and cardamoms from ASEAN

Exports in kind, t

Exports of nutmeg, mace, and cardamoms from ASEAN increased for the second consecutive year. In 2020, exports totaled 30,575 tons, representing a strong gain of 20.0% compared to the previous year. Between 2017 and 2020, exports grew by 69.8%, equating to an annualized rate of 19.3%. The lowest export volume was recorded in 2018 at 17,456 tons. The largest decline occurred in 2018, with a drop of 3.1%, while the largest increase was in 2019, with a rise of 45.9%.

Annual dynamics of product's exports from ASEAN in kind, 2017-2020, t

From 2017 to 2020, China (19.6% of exports in kind), India (6.6% of exports in kind), and the Netherlands (5.9% of exports in kind) were the largest buyers of nutmeg, mace, and cardamoms from ASEAN, though they were not dominant. Together, they accounted for 32.0% of total exports in kind, with the remainder spread across a broad range of smaller partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from ASEAN in kind, 2017-2020

Exports in value, M $ US

Shipments of nutmeg, mace, and cardamoms from ASEAN to abroad increased for the third consecutive year. In 2020, exports amounted to 282.3 million US dollars, indicating an advance of 32.6% relative to the prior year. Over the period from 2017 to 2020, exports increased by 82.3%, with a compound annual growth rate (CAGR) of 22.2%.

Annual dynamics of product's exports from ASEAN in value, 2017-2020, M $ US

From 2017 to 2020, the partner portfolio for exports in value terms of nutmeg, mace, and cardamoms from ASEAN was quite broad. China (17.4% of exports in value terms), India (13.3% of exports in value terms), and the Netherlands (9.4% of exports in value terms) together represented only 40.1% of total flows, highlighting the diversity of trading partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from ASEAN in value, 2017-2020

Imports nutmeg, mace and cardamoms to ASEAN

Imports in kind, t

In 2020, deliveries of nutmeg, mace, and cardamoms to ASEAN amounted to 4,096 tons, showing a sharp advance of 51.4% compared to the previous year. Over the period from 2017 to 2020, imports increased by 26.2%, with a compound annual growth rate (CAGR) of 8.1%. The lowest import volume was recorded in 2019 at 2,706 tons. The largest decline occurred in 2019, with a drop of 22.3%.

Annual dynamics of product's imports to ASEAN in kind, 2017-2020, t

From 2017 to 2020, imports in kind of nutmeg, mace, and cardamoms to ASEAN were spread across many countries. Guatemala (31.6% of imports in kind), India (6.5% of imports in kind), and China (2.0% of imports in kind) jointly accounted for only 40.1% of total flows, indicating a wide distribution among various suppliers.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to ASEAN in kind, 2017-2020

Imports in value, M $ US

Foreign supplies of nutmeg, mace, and cardamoms to ASEAN increased for the third consecutive year. In 2020, ASEAN imported approximately 58.6 million US dollars of these products, reflecting a solid rise of 18.1% compared to the previous year. Between 2017 and 2020, imports increased by 62.7%, equating to an annualized rate of 17.6%.

Annual dynamics of product's imports to ASEAN in value, 2017-2020, M $ US

Throughout 2017 to 2020, Guatemala (45.6% of imports in value terms), India (7.6% of imports in value terms), and China (1.2% of imports in value terms) formed the core group of markets for imports in value terms. Together, they represented 54.5% of total flows, underscoring their significant role in ASEAN's import structure.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to ASEAN in value, 2017-2020