ASEAN: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in ASEAN

After three years of decline, the ASEAN nutmeg, mace and cardamom market increased by 15% to $X in 2022. In general, consumption, however, showed a mild contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Nutmeg, Mace And Cardamoms in ASEAN

In value terms, nutmeg, mace and cardamom production totaled $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -4.3% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 30% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The country with the largest volume of nutmeg, mace and cardamom production was Indonesia (X tons), accounting for 86% 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. The third position in this ranking was taken by Myanmar (X tons), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume in Indonesia stood at +4.9%. In the other countries, the average annual rates were as follows: Lao People's Democratic Republic (+0.8% per year) and Myanmar (+20.3% per year).

In 2022, the average nutmeg, mace and cardamom yield in ASEAN stood at X kg per ha, remaining relatively unchanged against the previous year. Over the period under review, the yield, however, showed a slight decline. The growth pace was the most rapid in 2018 when the yield increased by 19% against the previous year. Over the period under review, the nutmeg, mace and cardamom yield hit record highs 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.

In 2022, approx. X ha of nutmeg, mace and cardamoms were harvested in ASEAN; remaining relatively unchanged against the year before. The total harvested area indicated prominent growth from 2012 to 2022: its figure increased at an average annual rate of +6.0% 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 +79.2% against 2012 indices. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 16% against the previous year. Over the period under review, the harvested area dedicated to nutmeg, mace and cardamom production reached the maximum at X ha in 2021, and then declined in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports in ASEAN

After two years of growth, overseas shipments of nutmeg, mace and cardamoms decreased by -8.3% to X tons in 2022. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +74.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, nutmeg, mace and cardamom exports reduced to $X in 2022. Overall, exports, however, posted a pronounced increase. The pace of growth was the most pronounced in 2020 when exports increased by 31%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

Indonesia dominates exports structure, resulting at X tons, which was approx. 90% of total exports in 2022. It was distantly followed by Vietnam (X tons), committing a 5.9% share of total exports. Singapore (X tons) took a relatively small share of total exports.

Exports from Indonesia increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, Vietnam (+17.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +17.9% from 2012-2022. By contrast, Singapore (-4.6%) illustrated a downward trend over the same period. Vietnam (+4.1 p.p.) and Indonesia (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -4.6% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) remains the largest nutmeg, mace and cardamom supplier in ASEAN, comprising 89% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to +5.7%. In the other countries, the average annual rates were as follows: Vietnam (+10.0% per year) and Singapore (-7.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, rising by 2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 35%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 (+0.5%), while the other leaders experienced a decline in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in ASEAN

After five years of growth, purchases abroad of nutmeg, mace and cardamoms decreased by -16.9% to X tons in 2022. In general, imports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 25%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports declined sharply to $X in 2022. Overall, imports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 36%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons), distantly followed by Singapore (X tons), Malaysia (X tons), Thailand (X tons) and Lao People's Democratic Republic (X tons) represented the main importers of nutmeg, mace and cardamoms, together generating 92% of total imports. The following importers - Myanmar (X tons) and Indonesia (X tons) - each accounted for a 6.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +55.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom importing markets in ASEAN were Vietnam ($X), Singapore ($X) and Malaysia ($X), together accounting for 86% of total imports. Thailand, Indonesia, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 12%.

Lao People's Democratic Republic, with a CAGR of +21.4%, 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 ASEAN amounted to $X per ton, with a decrease of -13.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 23% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+9.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform