Nutmeg, mace and cardamoms market in Asia

Earlier Report Observations

At the start of the period, a significant 10% increase in the harvested area for nutmeg, mace and cardamoms across Asia in 2018 supported production levels. Regional consumption maintained an upward trend until 2019, which helped keep the market volume stable at around 122-123 thousand tonnes. In 2020, notable import growth in North and Latin America reflected stronger global demand, contributing to higher Asian export and import volumes and pushing the regional market size to 125.4 thousand tonnes.

A peak in global production and yield in 2021 drove Asian production up to 113.5 thousand tonnes and expanded the market volume to 130.7 thousand tonnes. Despite a contraction in the harvested area in Indonesia during 2022, overall Asian production continued to rise, reaching 119.4 thousand tonnes, while the market volume surged sharply to 159.9 thousand tonnes on robust demand. However, a slight reduction in the harvested area across Asia in 2023 led to a modest dip in production to 118.8 thousand tonnes and brought the market volume down to 151.8 thousand tonnes.

In 2024, a 7.7% decline in Asian consumption for nutmeg, mace and cardamoms, coupled with a 49% rise in global export prices, altered trade dynamics. Imports into Asia fell to 53.6 thousand tonnes, and exports dropped to 22.5 thousand tonnes, signaling a shift in market conditions.

Production nutmeg, mace and cardamoms in Asia

In kind, 2017-2020, K 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 Asia declined for the second consecutive year. In 2020, output reached 99.1 thousand tonnes, remaining relatively stable compared to 2019. Over the period from 2017 to 2020, production increased by 5.1%, with a compound annual growth rate of 1.7%. The highest production level was recorded in 2018 at 106.4 thousand tonnes, which represented a 12.9% increase from the previous year. The largest decline occurred in 2019, when production fell by 6.4%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports nutmeg, mace and cardamoms from Asia

Exports in kind, t

In 2020, Asia exported 25 999 tonnes of nutmeg, mace, and cardamoms, marking a significant increase of 29.8% compared to 2019. Between 2017 and 2020, exports grew by 26.6%, equivalent to an annualized rate of 8.2%. The lowest export volume was recorded in 2019 at 20 028 tonnes, which represented an 8.9% decline from the previous year.

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

From 2017 to 2020, exports in kind were distributed across a wide range of partner countries. The Netherlands accounted for 3.8% of exports, the United States for 3.3%, and Germany for 2.7%. Together, these three countries represented just 9.8% of total export flows.

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

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

Exports in value, M $ US

The value of nutmeg, mace, and cardamoms exported from Asia increased for the third consecutive year. In 2020, exports amounted to 554 million US dollars, reflecting a rise of 26.1% from the previous year. Over the period from 2017 to 2020, export value grew by 99.3%, with a compound annual growth rate of 25.9%.

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

During 2017–2020, the Netherlands accounted for 5.0% of exports in value terms, the United States for 3.5%, and Germany for 3.5%. These three countries were important buyers of nutmeg, mace, and cardamoms from Asia, but their combined share reached only 11.9% of total export value. The remaining 88.1% was distributed among many other trading partners.

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

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

Imports nutmeg, mace and cardamoms to Asia

Imports in kind, t

Asia's imports of nutmeg, mace, and cardamoms increased for the second consecutive year. In 2020, imports totalled 52 278 tonnes, indicating a 22.3% year-over-year uptick. Over the period from 2017 to 2020, imports grew by 17.5%, with a compound annual growth rate of 5.5%. The lowest import volume was recorded in 2018 at 38 910 tonnes, which represented a 12.5% decline from the previous year.

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

From 2017 to 2020, Guatemala consistently accounted for the largest share of imports in kind of nutmeg, mace, and cardamoms to Asia, representing 58.3% of total flows.

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

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

Imports in value, M $ US

The value of nutmeg, mace, and cardamoms imported by Asia increased for the second consecutive year. In 2020, Asia imported a total of 1 031 million US dollars of these products, reflecting a sharp rise of 58.4% compared to the previous year. Between 2017 and 2020, import value grew by 115.5%, equating to an annualized rate of 29.2%. The lowest import value was recorded in 2018 at 473 million US dollars, which represented a 1.2% decline from the previous year.

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

From 2017 to 2020, Guatemala remained the key source for imports in value terms, accounting for 67.9% of total flows.

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

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