Peru: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Peru

The Peruvian nutmeg, mace and cardamom market declined to $X in 2022, shrinking by -7.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a pronounced decline. Nutmeg, mace and cardamom consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports from Peru

In 2022, the amount of nutmeg, mace and cardamoms exported from Peru soared to X tons, picking up by 23% on 2021. In general, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 836%. 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 surged to $X in 2022. Overall, exports, however, faced a deep downturn. The pace of growth was the most pronounced in 2019 when exports increased by 707%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X kg) and the United States (X kg) were the main destinations of nutmeg, mace and cardamom exports from Peru.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +35.2%).

In value terms, the largest markets for nutmeg, mace and cardamom exported from Peru were the Dominican Republic ($X) and the United States ($X).

Among the main countries of destination, the Dominican Republic, with a CAGR of +21.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, with an increase of 27% against the previous year. In general, the export price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 101% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-6.9%).

Imports of Nutmeg, Mace And Cardamoms

Imports into Peru

In 2022, approx. X tons of nutmeg, mace and cardamoms were imported into Peru; which is down by -3.9% compared with the previous year's figure. Overall, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 153% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports declined to $X in 2022. Over the period under review, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when imports increased by 123%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest nutmeg, mace and cardamom supplier to Peru, with a 57% share of total imports. Moreover, nutmeg, mace and cardamom imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The United States (X kg) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-17.2% per year) and the United States (-1.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Peru, comprising 55% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports. It was followed by the United States, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +29.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-21.7% per year) and the United States (-4.1% per year).

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, reducing by -2.5% against the previous year. In general, the import price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2018 an increase of 15%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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