Hong Kong SAR, China: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Hong Kong SAR, China

The Hong Kong nutmeg, mace and cardamom market soared to $X in 2022, with an increase of 261% against the previous year. Overall, consumption enjoyed measured growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Nutmeg, Mace And Cardamoms in Hong Kong SAR, China

In value terms, nutmeg, mace and cardamom production rose slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2020 with an increase of 8.4% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The average yield of nutmeg, mace and cardamoms in Hong Kong SAR amounted to less than X kg per ha in 2022, flattening at the previous year's figure. Overall, 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, the nutmeg, mace and cardamom harvested area in Hong Kong SAR stood at less than X ha, remaining constant against 2021 figures. In general, the harvested area showed a relatively flat trend pattern.

Exports of Nutmeg, Mace And Cardamoms

Exports from Hong Kong SAR, China

After four years of growth, overseas shipments of nutmeg, mace and cardamoms decreased by -70.4% to X tons in 2022. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 283% against the previous year. The exports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, nutmeg, mace and cardamom exports soared to $X in 2022. Overall, exports, however, saw a resilient increase. The growth pace was the most rapid in 2020 when exports increased by 353%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for nutmeg, mace and cardamom exports from Hong Kong SAR, accounting for a 69% share of total exports. Moreover, nutmeg, mace and cardamom exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -9.2%.

In value terms, China ($X) remains the key foreign market for nutmeg, mace and cardamoms exports from Hong Kong SAR, comprising 69% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +56.5%.

Export Prices by Country

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, jumping by 348% against the previous year. Overall, the export price, however, recorded a deep slump. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+72.3%), while the prices for the other major destinations experienced a decline.

Imports of Nutmeg, Mace And Cardamoms

Imports into Hong Kong SAR, China

In 2022, the amount of nutmeg, mace and cardamoms imported into Hong Kong SAR soared to X tons, growing by 39% compared with the year before. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 396%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, nutmeg, mace and cardamom imports contracted notably to $X in 2022. Over the period under review, imports recorded a perceptible expansion. The growth pace was the most rapid in 2019 with an increase of 238% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest nutmeg, mace and cardamom supplier to Hong Kong SAR, with a 90% share of total imports. Moreover, nutmeg, mace and cardamom imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +79.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-0.3% per year) and Indonesia (-31.4% per year).

In value terms, China ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Hong Kong SAR, comprising 58% of total imports. The second position in the ranking was taken by India ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +82.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.8% per year) and Indonesia (-35.3% per year).

Import Prices by Country

In 2022, the average nutmeg, mace and cardamom import price amounted to $X per ton, which is down by -74.8% against the previous year. Over the period under review, the import price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when the average import price increased by 179% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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