Hungary: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Hungary

In 2022, the Hungarian nutmeg, mace and cardamom market decreased by -29.6% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, posted perceptible growth. Nutmeg, mace and cardamom consumption peaked at $X in 2021, and then shrank rapidly in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports from Hungary

In 2022, nutmeg, mace and cardamom exports from Hungary soared to X tons, picking up by 210% on the year before. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 1,795% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, nutmeg, mace and cardamom exports surged to $X in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,944%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for nutmeg, mace and cardamom exports from Hungary, accounting for a 53% share of total exports. Moreover, nutmeg, mace and cardamom exports to the Czech Republic exceeded the volume sent to the second major destination, Germany (X tons), fourfold. Sweden (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic totaled +76.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+87.1% per year) and Sweden (+170.7% per year).

In value terms, the largest markets for nutmeg, mace and cardamom exported from Hungary were Germany ($X), the Czech Republic ($X) and Romania ($X), together accounting for 75% of total exports. Croatia, Austria, Malta, Sweden and Greece lagged somewhat behind, together comprising a further 13%.

Malta, with a CAGR of +534.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, falling by -46.3% against the previous year. Over the period under review, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by 80%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Sweden ($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 Greece (+2.8%), while the prices for the other major destinations experienced a decline.

Imports of Nutmeg, Mace And Cardamoms

Imports into Hungary

In 2022, supplies from abroad of nutmeg, mace and cardamoms decreased by -13.4% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2020 when imports increased by 488%. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, nutmeg, mace and cardamom imports stood at $X in 2022. Overall, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +107.0% against 2018 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 46%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of nutmeg, mace and cardamom to Hungary, accounting for a 45% share of total imports. Moreover, nutmeg, mace and cardamom imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+27.3% per year) and the Czech Republic (+31.1% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Hungary, comprising 60% of total imports. The second position in the ranking was taken by Austria ($X), with a 10% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-11.3% per year) and Germany (+13.1% per year).

Import Prices by Country

In 2022, the average nutmeg, mace and cardamom import price amounted to $X per ton, increasing by 17% against the previous year. Overall, the import price, however, continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2017 when the average import price increased by 206%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 Austria ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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