Eastern Europe: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Eastern Europe

After five years of growth, the East European nutmeg, mace and cardamom market decreased by -18.2% to $X in 2022. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then declined markedly in the following year.

Production of Nutmeg, Mace And Cardamoms in Eastern Europe

In value terms, nutmeg, mace and cardamom production rose to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 7.6% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Latvia (X tons) constituted the country with the largest volume of nutmeg, mace and cardamom production, comprising approx. 100% of total volume.

From 2012 to 2022, the average annual growth rate of volume in Latvia was relatively modest.

Exports of Nutmeg, Mace And Cardamoms

Exports in Eastern Europe

Nutmeg, mace and cardamom exports was estimated at X tons in 2022, growing by 1.8% on 2021 figures. In general, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 29% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, nutmeg, mace and cardamom exports fell remarkably to $X in 2022. Overall, exports recorded measured growth. The growth pace was the most rapid in 2020 when exports increased by 44%. The level of export peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

Latvia (X tons) and Poland (X tons) were the major exporters of nutmeg, mace and cardamoms in 2022, reaching approx. 25% and 25% of total exports, respectively. Estonia (X tons) took the next position in the ranking, followed by the Czech Republic (X tons), Russia (X tons) and Romania (X tons). All these countries together held approx. 41% share of total exports. Hungary (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Hungary (with a CAGR of +48.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom supplying countries in Eastern Europe were Poland ($X), Estonia ($X) and Latvia ($X), with a combined 63% share of total exports. The Czech Republic, Romania, Russia and Hungary lagged somewhat behind, together accounting for a further 33%.

In terms of the main exporting countries, Hungary, with a CAGR of +36.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, falling by -17.8% against the previous year. Over the period under review, the export price saw a noticeable decrease. The growth pace was the most rapid in 2019 an increase of 19%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Romania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+3.3%), while the other leaders experienced a decline in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in Eastern Europe

In 2022, after two years of growth, there was significant decline in overseas purchases of nutmeg, mace and cardamoms, when their volume decreased by -10.5% to X tons. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.5% against 2014 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, nutmeg, mace and cardamom imports reduced notably to $X in 2022. Overall, imports, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2020 with an increase of 38%. The level of import peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

Poland (X tons) and Russia (X tons) represented roughly 49% of total imports in 2022. It was distantly followed by the Czech Republic (X tons), Latvia (X tons), Estonia (X tons), Romania (X tons) and Hungary (X tons), together comprising a 40% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +30.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), with a combined 61% share of total imports. Estonia, Romania, Latvia and Hungary lagged somewhat behind, together comprising a further 30%.

In terms of the main importing countries, Latvia, with a CAGR of +18.9%, saw 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 import price in Eastern Europe amounted to $X per ton, declining by -5.1% against the previous year. Overall, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 an increase of 17%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 Estonia ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+3.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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