Report Update Nov 1, 2024

Azerbaijan - Nutmeg, Mace and Cardamoms - Market Analysis, Forecast, Size, Trends and Insights

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Azerbaijan: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Azerbaijan

The Azerbaijani nutmeg, mace and cardamom market skyrocketed to $X in 2022, picking up by 85% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a prominent increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Exports of Nutmeg, Mace And Cardamoms

Exports from Azerbaijan

In 2022, the amount of nutmeg, mace and cardamoms exported from Azerbaijan reduced sharply to X kg, shrinking by -20% compared with 2021 figures. Overall, exports recorded a sharp shrinkage. Over the period under review, the exports reached the peak figure at X kg in 2021, and then fell notably in the following year.

In value terms, nutmeg, mace and cardamom exports expanded remarkably to $X in 2022. The total export value increased at an average annual rate of +9.7% from 2021 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X kg) was the main destination for nutmeg, mace and cardamom exports from Azerbaijan, with a 56% share of total exports. Moreover, nutmeg, mace and cardamom exports to Russia exceeded the volume sent to the second major destination, Qatar (X kg), twofold.

From 2021 to 2022, the average annual growth rate of volume to Russia amounted to -55.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (0.0% per year) and Kazakhstan (0.0% per year).

In value terms, the largest markets for nutmeg, mace and cardamom exported from Azerbaijan were Russia ($X), Kazakhstan ($X) and Qatar ($X).

Qatar, with a CAGR of 0.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, growing by 37% against the previous year. Overall, export price indicated significant growth from 2021 to 2022: its price increased at an average annual rate of +37.1% over the last one-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+11.7%).

Imports of Nutmeg, Mace And Cardamoms

Imports into Azerbaijan

In 2022, overseas purchases of nutmeg, mace and cardamoms increased by 115% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw tangible growth. The growth pace was the most rapid in 2014 when imports increased by 333% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, nutmeg, mace and cardamom imports skyrocketed to $X in 2022. Overall, imports posted a significant increase. The growth pace was the most rapid in 2014 when imports increased by 396%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of nutmeg, mace and cardamom to Azerbaijan, with a 66% share of total imports. Moreover, nutmeg, mace and cardamom imports from India exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+178.3% per year) and Iran (+68.7% per year).

In value terms, the largest nutmeg, mace and cardamom suppliers to Azerbaijan were India ($X), Guatemala ($X) and Iran ($X), with a combined 100% share of total imports.

Among the main suppliers, Guatemala, with a CAGR of +240.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average nutmeg, mace and cardamom import price amounted to $X per ton, declining by -19.5% against the previous year. Overall, the import price, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 136% against the previous year. The import price peaked at $X per ton in 2021, and then contracted notably in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Guatemala ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+37.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nutmeg, mace and cardamoms in the world?

The countries with the highest volumes of nutmeg, mace and cardamom consumption in 2021 were India, China and Indonesia, together comprising 47% of global consumption.

What are the largest producers of nutmeg, mace and cardamoms in the world?

The countries with the highest volumes of nutmeg, mace and cardamom production in 2021 were Indonesia, India and Guatemala, with a combined 83% share of global production. These countries were followed by Nepal, Sri Lanka, Lao People's Democratic Republic and Myanmar, which together accounted for a further 12%.

What are the leading suppliers of nutmeg, mace and cardamoms to Azerbaijan?

In value terms, India, the United Arab Emirates and Guatemala were the largest nutmeg, mace and cardamom suppliers to Azerbaijan, with a combined 94% share of total imports.

What is the average export price for nutmeg, mace and cardamoms in Azerbaijan?

In 2021, the average nutmeg, mace and cardamom export price amounted to $29,778 per ton, standing approx. at the previous year.

What is the average import price for nutmeg, mace and cardamoms in Azerbaijan?

The average nutmeg, mace and cardamom import price stood at $16,486 per ton in 2021, picking up by 22% against the previous year.

This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Azerbaijan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 702 - Nutmeg, mace, cardamoms

Country coverage:

Azerbaijan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Azerbaijan
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023