Norway: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Norway

In 2022, the Norwegian nutmeg, mace and cardamom market decreased by -11.9% to $X, falling for the second consecutive year after six years of growth. Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -20.6% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports from Norway

In 2022, the amount of nutmeg, mace and cardamoms exported from Norway declined sharply to X kg, shrinking by -46.4% on the year before. In general, exports faced a sharp contraction. The pace of growth appeared the most rapid in 2016 with an increase of 51,289% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports dropped notably to $X in 2022. Overall, exports faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 18,125%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X kg) was the main destination for nutmeg, mace and cardamom exports from Norway, accounting for a 93% share of total exports. Moreover, nutmeg, mace and cardamom exports to Sweden exceeded the volume sent to the second major destination, Denmark (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to -6.2%.

In value terms, Sweden ($X) remains the key foreign market for nutmeg, mace and cardamoms exports from Norway, comprising 97% of total exports. The second position in the ranking was held by Denmark ($X), with a 3.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to +5.7%.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, with an increase of 7.9% against the previous year. In general, the export price posted noticeable growth. The pace of growth was the most pronounced in 2017 an increase of 145% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign 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 Denmark totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into Norway

In 2022, imports of nutmeg, mace and cardamoms into Norway was estimated at X tons, therefore, remained relatively stable against the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 10% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom imports shrank remarkably to $X in 2022. Overall, imports saw a slight increase. The pace of growth was the most pronounced in 2020 when imports increased by 41%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest supplier of nutmeg, mace and cardamom to Norway, with a 47% share of total imports. Moreover, nutmeg, mace and cardamom imports from Guatemala exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+11.4% per year) and Germany (+14.0% per year).

In value terms, Guatemala ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Norway, comprising 42% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by Indonesia, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Guatemala stood at +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.9% per year) and Indonesia (+5.0% per year).

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, declining by -17.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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