Philippines: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in the Philippines

After two years of growth, the Philippine nutmeg, mace and cardamom market decreased by -19.3% to $X in 2022. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Nutmeg, Mace And Cardamoms

Exports from the Philippines

In 2022, shipments abroad of nutmeg, mace and cardamoms decreased by -47% to X kg for the first time since 2014, thus ending a seven-year rising trend. Overall, exports, however, saw significant growth. The growth pace was the most rapid in 2021 with an increase of 1,555%. As a result, the exports reached the peak of X kg, and then declined notably in the following year.

In value terms, nutmeg, mace and cardamom exports shrank sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 1,393% against the previous year. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

Palau (X kg) was the main destination for nutmeg, mace and cardamom exports from the Philippines, accounting for a 95% share of total exports. Moreover, nutmeg, mace and cardamom exports to Palau exceeded the volume sent to the second major destination, Turkey (X kg), more than tenfold.

From 2013 to 2022, the average annual growth rate of volume to Palau stood at +99.5%.

In value terms, Palau ($X) emerged as the key foreign market for nutmeg, mace and cardamoms exports from the Philippines, comprising 100% of total exports. The second position in the ranking was held by Turkey ($X), with a 0.5% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Palau stood at +188.7%.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the export price enjoyed a buoyant increase. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Palau ($X per ton), while the average price for exports to Turkey totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Palau (+44.7%).

Imports of Nutmeg, Mace And Cardamoms

Imports into the Philippines

In 2022, the amount of nutmeg, mace and cardamoms imported into the Philippines shrank remarkably to X tons, dropping by -28.4% compared with the previous year's figure. Over the period under review, imports continue to indicate a deep reduction. The growth pace was the most rapid in 2014 with an increase of 52% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports dropped markedly to $X in 2022. Overall, imports, however, showed notable growth. The growth pace was the most rapid in 2014 with an increase of 75%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced markedly in the following year.

Imports by Country

India (X tons), Indonesia (X tons) and Germany (X tons) were the main suppliers of nutmeg, mace and cardamom imports to the Philippines, with a combined 98% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +103.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X), Indonesia ($X) and Germany ($X) were the largest nutmeg, mace and cardamom suppliers to the Philippines, with a combined 99% share of total imports.

Germany, with a CAGR of +84.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average nutmeg, mace and cardamom import price amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the import price recorded a resilient increase. The growth pace was the most rapid in 2020 an increase of 63% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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 Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+32.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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