Costa Rica: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Costa Rica

In 2022, after four years of growth, there was significant decline in the Costa Rican nutmeg, mace and cardamom market, when its value decreased by -17.4% to $X. Overall, consumption, however, continues to indicate prominent growth. Nutmeg, mace and cardamom consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Production of Nutmeg, Mace And Cardamoms in Costa Rica

In value terms, nutmeg, mace and cardamom production dropped notably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a significant expansion. Nutmeg, mace and cardamom production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The average yield of nutmeg, mace and cardamoms in Costa Rica stood at less than X kg per ha in 2022, stabilizing at the previous year's figure. Over the period under review, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of nutmeg, mace and cardamoms were harvested in Costa Rica; approximately reflecting 2021 figures. Over the period under review, the harvested area saw a relatively flat trend pattern.

Exports of Nutmeg, Mace And Cardamoms

Exports from Costa Rica

In 2022, the amount of nutmeg, mace and cardamoms exported from Costa Rica dropped dramatically to X tons, shrinking by -22.6% compared with the previous year's figure. In general, exports recorded a pronounced decrease. The pace of growth was the most pronounced in 2018 with an increase of 299%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, nutmeg, mace and cardamom exports contracted rapidly to $X in 2022. Over the period under review, exports recorded a perceptible decline. The growth pace was the most rapid in 2018 when exports increased by 328% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for nutmeg, mace and cardamom exports from Costa Rica, with a 64% share of total exports. Moreover, nutmeg, mace and cardamom exports to the Netherlands exceeded the volume sent to the second major destination, Panama (X tons), threefold. The third position in this ranking was held by Nicaragua (X kg), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-7.0% per year) and Nicaragua (+7.4% per year).

In value terms, the Netherlands ($X) remains the key foreign market for nutmeg, mace and cardamoms exports from Costa Rica, comprising 60% of total exports. The second position in the ranking was held by Panama ($X), with a 22% share of total exports. It was followed by Nicaragua, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-3.6% per year) and Nicaragua (+12.8% per year).

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 46%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Honduras ($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 Honduras (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into Costa Rica

In 2022, approx. X tons of nutmeg, mace and cardamoms were imported into Costa Rica; reducing by -5.5% compared with 2021. Over the period under review, imports saw a mild descent. The pace of growth was the most pronounced in 2018 with an increase of 126%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports shrank to $X in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.5% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 86%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest nutmeg, mace and cardamom supplier to Costa Rica, with a 46% share of total imports. Moreover, nutmeg, mace and cardamom imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.6% per year) and Indonesia (+21.2% per year).

In value terms, the United States ($X), India ($X) and Guatemala ($X) constituted the largest nutmeg, mace and cardamom suppliers to Costa Rica, with a combined 75% share of total imports. Indonesia, Spain and Vietnam lagged somewhat behind, together accounting for a further 21%.

Among the main suppliers, Indonesia, with a CAGR of +28.6%, recorded the highest growth rate of 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, with an increase of 4.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2020 when the average import price increased by 44%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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 Guatemala ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform