Nepal: Spice Market 2025

Spice Market Size in Nepal

The Nepalese spice market stood at $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Spice consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Spice Production in Nepal

In value terms, spice production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

In 2022, the average spice yield in Nepal reduced to X tons per ha, approximately reflecting the year before. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. The spice yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spice harvested area in Nepal was estimated at X ha in 2022, stabilizing at the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. The spice harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Spice Exports

Exports from Nepal

In 2022, approx. X tons of spices were exported from Nepal; growing by X% against the previous year's figure. Over the period under review, total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, spice exports expanded rapidly to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for spice exports from Nepal, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to X%.

In value terms, India ($X) also remains the key foreign market for spices exports from Nepal.

From 2012 to 2022, the average annual growth rate of value to India was relatively modest.

Export Prices by Country

The average spice export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Spice Imports

Imports into Nepal

In 2022, approx. X tons of spices were imported into Nepal; which is down by X% compared with 2021. Overall, imports continue to indicate a mild setback. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, spice imports dropped rapidly to $X in 2022. In general, imports, however, continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest spice supplier to Nepal, accounting for a X% share of total imports. Moreover, spice imports from India exceeded the figures recorded by the second-largest supplier, Russia (X tons), sixfold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and China (X% per year).

In value terms, India ($X) constituted the largest supplier of spices to Nepal, comprising X% of total imports. The second position in the ranking was held by Guatemala ($X), with an X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (X% per year) and Russia (X% per year).

Import Prices by Country

The average spice import price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spice import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure 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 Guatemala ($X per ton), while the price for Pakistan ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform