ASEAN: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in ASEAN

In 2022, the ASEAN nutmeg, mace and cardamom market decreased by X% to $X, falling for the sixth year in a row after five years of growth. Overall, consumption showed a abrupt contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Nutmeg, Mace And Cardamoms in ASEAN

In value terms, nutmeg, mace and cardamom production reached $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The country with the largest volume of nutmeg, mace and cardamom production was Indonesia (X tons), comprising approx. X% of total volume. Moreover, nutmeg, mace and cardamom production in Indonesia exceeded the figures recorded by the second-largest producer, Lao People's Democratic Republic (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Lao People's Democratic Republic (X% per year) and Myanmar (X% per year).

The average nutmeg, mace and cardamom yield amounted to X kg per ha in 2022, approximately reflecting the previous year. Over the period under review, the yield, however, recorded a mild descent. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of yield peaked at X kg per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The nutmeg, mace and cardamom harvested area reduced modestly to X ha in 2022, flattening at 2021. The total harvested area indicated resilient growth 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 increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2018 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2021, and then contracted modestly in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in shipments abroad of nutmeg, mace and cardamoms, which increased by X% to X tons in 2022. Total exports indicated buoyant growth from 2012 to 2022: its volume 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, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, nutmeg, mace and cardamom exports dropped to $X in 2022. In general, exports posted measured growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Indonesia dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Vietnam (X tons), achieving a X% share of total exports. Singapore (X tons) took a relatively small 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, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia and Vietnam increased by X and X percentage points, respectively.

In value terms, Indonesia ($X) remains the largest nutmeg, mace and cardamom supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price recorded a slight slump. The growth pace was the most rapid in 2019 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in ASEAN

Nutmeg, mace and cardamom imports fell slightly to X tons in 2022, shrinking by X% on the previous year's figure. Total imports indicated a moderate expansion from 2012 to 2022: its volume 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, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, nutmeg, mace and cardamom imports shrank notably to $X in 2022. In general, imports, however, enjoyed mild growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

Vietnam was the major importer of nutmeg, mace and cardamoms in ASEAN, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Singapore (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (X%), Thailand (X%) and Indonesia (X%). Myanmar (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported nutmeg, mace and cardamoms in ASEAN, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price recorded a mild descent. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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