Bulgaria: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Bulgaria

For the third year in a row, the Bulgarian nutmeg, mace and cardamom market recorded growth in sales value, which increased by 1.9% to $X in 2022. Over the period under review, consumption showed a measured expansion. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports from Bulgaria

In 2022, the amount of nutmeg, mace and cardamoms exported from Bulgaria dropped remarkably to X tons, which is down by -29.8% on 2021. Overall, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 238% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports shrank dramatically to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2014 when exports increased by 514%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Greece (X tons), Serbia (X kg) and Georgia (X kg) were the main destinations of nutmeg, mace and cardamom exports from Bulgaria, together comprising 70% of total exports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +86.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Serbia ($X) and Georgia ($X) were the largest markets for nutmeg, mace and cardamom exported from Bulgaria worldwide, together comprising 63% of total exports.

Greece, with a CAGR of +59.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, with an increase of 6% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 82%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+4.4%), while the prices for the other major destinations experienced a decline.

Imports of Nutmeg, Mace And Cardamoms

Imports into Bulgaria

In 2022, after two years of growth, there was decline in supplies from abroad of nutmeg, mace and cardamoms, when their volume decreased by -4.2% to X tons. Over the period under review, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2016 when imports increased by 132% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports declined slightly to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

Latvia (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of nutmeg, mace and cardamom imports to Bulgaria, with a combined 71% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +47.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), India ($X) and Indonesia ($X) constituted the largest nutmeg, mace and cardamom suppliers to Bulgaria, together accounting for 69% of total imports.

Latvia, with a CAGR of +40.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, stabilizing at the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The growth pace was the most rapid in 2017 an increase of 16%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($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 (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :