Finland: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Finland

After six years of growth, the Finnish nutmeg, mace and cardamom market decreased by -29.9% to $X in 2022. In general, consumption, however, saw a tangible increase. Nutmeg, mace and cardamom consumption peaked at $X in 2021, and then contracted notably in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports from Finland

Nutmeg, mace and cardamom exports from Finland soared to X tons in 2022, with an increase of 139% against 2021. Over the period under review, exports saw a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nutmeg, mace and cardamom exports soared to $X in 2022. Overall, exports showed a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 124%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Estonia (X tons) and Sweden (X tons) were the main destinations of nutmeg, mace and cardamom exports from Finland.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +25.3%).

In value terms, the largest markets for nutmeg, mace and cardamom exported from Finland were Estonia ($X) and Sweden ($X).

In terms of the main countries of destination, Estonia, with a CAGR of +22.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, dropping by -42.7% against the previous year. Overall, the export price, however, continues to indicate a moderate expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by 50%. The export price peaked at $X per ton in 2021, and then declined dramatically in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Estonia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+30.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Nutmeg, Mace And Cardamoms

Imports into Finland

In 2022, approx. X tons of nutmeg, mace and cardamoms were imported into Finland; growing by 16% compared with 2021. Overall, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +37.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 79%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, nutmeg, mace and cardamom imports fell sharply to $X in 2022. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 69% against the previous year. Imports peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, Guatemala (X tons) was the main supplier of nutmeg, mace and cardamom to Finland, accounting for a 90% share of total imports. It was followed by Sweden (X tons), with a 2.9% share of total imports. The third position in this ranking was taken by Indonesia (X tons), with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+0.1% per year) and Indonesia (+5.9% per year).

In value terms, Guatemala ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Finland, comprising 85% of total imports. The second position in the ranking was held by Sweden ($X), with a 7.2% share of total imports. It was followed by Indonesia, with a 2.2% share.

From 2012 to 2022, the average annual growth rate of value from Guatemala amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-2.0% per year) and Indonesia (+0.4% per year).

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, falling by -40.8% against the previous year. Over the period under review, the import price, however, posted moderate growth. The most prominent rate of growth was recorded in 2017 an increase of 91%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 Sweden ($X per ton), while the price for Vietnam ($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 (+4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :