New Zealand: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in New Zealand

In 2022, the New Zealand nutmeg, mace and cardamom market decreased by -20.5% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Nutmeg, mace and cardamom consumption peaked at $X in 2021, and then declined significantly in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports from New Zealand

Nutmeg, mace and cardamom exports from New Zealand surged to X kg in 2022, growing by 37% against the previous year. In general, exports, however, continue to indicate a sharp contraction. The growth pace was the most rapid in 2020 with an increase of 197%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom exports soared to $X in 2022. Over the period under review, exports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 132%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X kg) was the main destination for nutmeg, mace and cardamom exports from New Zealand, with a 62% share of total exports. Moreover, nutmeg, mace and cardamom exports to Australia exceeded the volume sent to the second major destination, Cook Islands (X kg), threefold. The third position in this ranking was held by Fiji (X kg), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to Australia totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+5.2% per year) and Fiji (-36.2% per year).

In value terms, Australia ($X) emerged as the key foreign market for nutmeg, mace and cardamoms exports from New Zealand, comprising 70% of total exports. The second position in the ranking was held by Cook Islands ($X), with a 7.5% share of total exports. It was followed by Fiji, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+1.6% per year) and Fiji (-26.3% per year).

Export Prices by Country

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, increasing by 53% against the previous year. In general, the export price saw a strong increase. The pace of growth was the most pronounced in 2013 an increase of 218%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was New Caledonia ($X per ton), while the average price for exports to Cook Islands ($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 Fiji (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into New Zealand

In 2022, overseas purchases of nutmeg, mace and cardamoms decreased by -11.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a noticeable descent. The growth pace was the most rapid in 2020 when imports increased by 34% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, nutmeg, mace and cardamom imports shrank sharply to $X in 2022. In general, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -25.7% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 70%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of nutmeg, mace and cardamom to New Zealand, with a 64% share of total imports. Moreover, nutmeg, mace and cardamom imports from India exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. The third position in this ranking was taken by Guatemala (X tons), with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-8.9% per year) and Guatemala (-2.6% per year).

In value terms, India ($X) constituted the largest supplier of nutmeg, mace and cardamoms to New Zealand, comprising 59% of total imports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total imports. It was followed by Australia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-6.7% per year) and Australia (+11.9% per year).

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, dropping by -14.4% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nutmeg, mace and cardamom import price decreased by -30.4% against 2020 indices. The growth pace was the most rapid in 2015 when the average import price increased by 56% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Guatemala ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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