ECOWAS: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in ECOWAS

In 2022, the ECOWAS nutmeg, mace and cardamom market decreased by -16.2% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, recorded a prominent increase. The level of consumption peaked at $X in 2021, and then reduced markedly in the following year.

Production of Nutmeg, Mace And Cardamoms in ECOWAS

In value terms, nutmeg, mace and cardamom production rose modestly to $X in 2022 estimated in export price. The total production indicated a notable increase 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 -5.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Cote d'Ivoire (X tons) remains the largest nutmeg, mace and cardamom producing country in ECOWAS, comprising approx. 63% of total volume. Moreover, nutmeg, mace and cardamom production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Togo (X tons), fourfold. The third position in this ranking was taken by Nigeria (X tons), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume in Cote d'Ivoire amounted to +2.0%. In the other countries, the average annual rates were as follows: Togo (+0.6% per year) and Nigeria (+2.6% per year).

In 2022, the average nutmeg, mace and cardamom yield in ECOWAS totaled X tons per ha, almost unchanged from the previous year's figure. The yield figure increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2014 when the yield increased by 8.8%. Over the period under review, the nutmeg, mace and cardamom yield reached the peak level at X tons per ha in 2020; afterwards, it flattened through to 2022. 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 ECOWAS; leveling off at the previous year's figure. Over the period under review, the harvested area showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the harvested area decreased by -2.8%. The level of harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports in ECOWAS

In 2022, approx. X tons of nutmeg, mace and cardamoms were exported in ECOWAS; picking up by 2.8% against 2021. In general, exports, however, saw a slight downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 628%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports fell to $X in 2022. Over the period under review, exports recorded a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 227% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the main exporting country with an export of about X tons, which resulted at 56% of total exports. It was distantly followed by Sierra Leone (X tons), Nigeria (X tons) and Ghana (X tons), together constituting a 43% share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of -3.0% from 2012 to 2022. At the same time, Sierra Leone (+15.6%) and Ghana (+2.8%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +15.6% from 2012-2022. By contrast, Nigeria (-3.1%) illustrated a downward trend over the same period. Sierra Leone (+15 p.p.) and Ghana (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria and Cote d'Ivoire saw its share reduced by -3.7% and -10.7% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest nutmeg, mace and cardamom supplier in ECOWAS, comprising 63% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 17% share of total exports. It was followed by Nigeria, with a 12% share.

In Cote d'Ivoire, nutmeg, mace and cardamom exports expanded at an average annual rate of +9.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sierra Leone (+9.2% per year) and Nigeria (-4.8% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, falling by -8.2% against the previous year. Overall, the export price, however, showed a resilient increase. The pace of growth was the most pronounced in 2021 an increase of 149%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+13.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in ECOWAS

After three years of growth, supplies from abroad of nutmeg, mace and cardamoms decreased by -29.4% to X tons in 2022. Overall, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 92% against the previous year. The volume of import peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, nutmeg, mace and cardamom imports fell notably to $X in 2022. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 139% against the previous year. The level of import peaked at $X in 2021, and then plummeted in the following year.

Imports by Country

In 2022, Ghana (X tons) represented the major importer of nutmeg, mace and cardamoms, mixing up 62% of total imports. It was distantly followed by Nigeria (X tons), achieving a 31% share of total imports. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +15.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported nutmeg, mace and cardamoms in ECOWAS, comprising 75% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 19% share of total imports.

In Ghana, nutmeg, mace and cardamom imports expanded at an average annual rate of +23.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (+4.7% per year) and Senegal (+15.4% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, shrinking by -8.4% against the previous year. Import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the import price increased by 79% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+10.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform