Portugal: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Portugal

The Portuguese nutmeg, mace and cardamom market fell to $X in 2022, waning by -6.5% 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports from Portugal

In 2022, overseas shipments of nutmeg, mace and cardamoms decreased by -6.7% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 107%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, nutmeg, mace and cardamom exports declined to $X in 2022. Overall, exports, however, enjoyed mild growth. The most prominent rate of growth was recorded in 2019 when exports increased by 55% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for nutmeg, mace and cardamom exports from Portugal, with a 53% share of total exports. Moreover, nutmeg, mace and cardamom exports to Spain exceeded the volume sent to the second major destination, Angola (X tons), twofold. Cabo Verde (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+0.3% per year) and Cabo Verde (+5.2% per year).

In value terms, Spain ($X) remains the key foreign market for nutmeg, mace and cardamoms exports from Portugal, comprising 59% of total exports. The second position in the ranking was taken by Angola ($X), with a 16% share of total exports. It was followed by Cabo Verde, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +31.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-10.1% per year) and Cabo Verde (-2.2% per year).

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price saw a abrupt slump. The pace of growth appeared the most rapid in 2018 an increase of 44%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Cabo Verde ($X per ton), while the average price for exports to Mozambique ($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 Spain (-4.4%), while the prices for the other major destinations experienced a decline.

Imports of Nutmeg, Mace And Cardamoms

Imports into Portugal

In 2022, imports of nutmeg, mace and cardamoms into Portugal stood at X tons, increasing by 1.9% against 2021 figures. Overall, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.8% against 2015 indices. The growth pace was the most rapid in 2019 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, nutmeg, mace and cardamom imports reduced to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 31% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

France (X tons), Spain (X tons) and Belgium (X tons) were the main suppliers of nutmeg, mace and cardamom imports to Portugal, with a combined 75% share of total imports. Poland, the Netherlands and Germany lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +52.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Belgium ($X) were the largest nutmeg, mace and cardamom suppliers to Portugal, with a combined 74% share of total imports. Poland, Germany and the Netherlands lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Germany, with a CAGR of +38.5%, saw the highest rates of growth with regard to the value of imports, 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, dropping by -15.6% against the previous year. Overall, the import price showed a drastic downturn. The growth pace was the most rapid in 2018 when the average import price increased by 14%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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