EU: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in the EU

The EU nutmeg, mace and cardamom market declined to $X in 2023, shrinking by X% against the previous year. Overall, consumption recorded a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Nutmeg, Mace And Cardamoms in the EU

In value terms, nutmeg, mace and cardamom production soared to $X in 2023 estimated in export price. Overall, production continues to indicate a buoyant increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

The country with the largest volume of nutmeg, mace and cardamom production was Latvia (X tons), comprising approx. X% of total volume. Moreover, nutmeg, mace and cardamom production in Latvia exceeded the figures recorded by the second-largest producer, Croatia (X tons), twofold.

From 2012 to 2023, the average annual rate of growth in terms of volume in Latvia was relatively modest.

Exports of Nutmeg, Mace And Cardamoms

Exports in the EU

In 2023, after two years of growth, there was significant decline in shipments abroad of nutmeg, mace and cardamoms, when their volume decreased by X% to X tons. Over the period under review, exports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, nutmeg, mace and cardamom exports dropped to $X in 2023. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands was the major exporting country with an export of about X tons, which resulted at X% of total exports. Germany (X tons) ranks second in terms of the total exports with a X% share, followed by Belgium (X%), Italy (X%) and Spain (X%). The following exporters - France (X tons) and Poland (X tons) - together made up X% of total exports.

Exports from the Netherlands decreased at an average annual rate of X% from 2012 to 2023. At the same time, Poland (X%) and Belgium (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2023. Spain experienced a relatively flat trend pattern. By contrast, Germany (X%), Italy (X%) and France (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Italy and Belgium increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest nutmeg, mace and cardamom supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

In the Netherlands, nutmeg, mace and cardamom exports decreased by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Germany (X% per year) and Belgium (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2023, remaining stable against the previous year. Overall, the export price, however, recorded a pronounced contraction. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was France ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the other leaders experienced a decline in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in the EU

Nutmeg, mace and cardamom imports declined to X tons in 2023, waning by X% against the previous year's figure. In general, imports showed a noticeable slump. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, nutmeg, mace and cardamom imports fell significantly to $X in 2023. Overall, imports showed a drastic downturn. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons) and Germany (X tons) were the major importers of nutmeg, mace and cardamoms in 2023, finishing at near X% and X% of total imports, respectively. Spain (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Italy (X%), France (X%) and Belgium (X%). Poland (X tons) took a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the Netherlands ($X), Germany ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. Belgium, Italy, Spain and Poland lagged somewhat behind, together comprising a further X%.

Poland, 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 a decline in the imports figures.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the import price recorded a noticeable contraction. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform