South-Eastern Asia: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in South-Eastern Asia

The Southeast Asian nutmeg, mace and cardamom market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption, however, recorded a slight slump. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Nutmeg, Mace And Cardamoms in South-Eastern Asia

In value terms, nutmeg, mace and cardamom production rose to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.3% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 30%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Indonesia (X tons) remains the largest nutmeg, mace and cardamom producing country in South-Eastern Asia, accounting for 86% of total volume. Moreover, nutmeg, mace and cardamom production in Indonesia exceeded the figures recorded by the second-largest producer, Lao People's Democratic Republic (X tons), more than tenfold. The third position in this ranking was held by Myanmar (X tons), with a 5.7% share.

In Indonesia, nutmeg, mace and cardamom production expanded at an average annual rate of +4.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Lao People's Democratic Republic (+0.8% per year) and Myanmar (+20.3% per year).

In 2022, the average yield of nutmeg, mace and cardamoms in South-Eastern Asia amounted to X kg per ha, therefore, remained relatively stable against the year before. In general, the yield, however, showed a slight decline. The pace of growth was the most pronounced in 2018 with an increase of 19%. The level of yield peaked at X kg per ha in 2013; however, from 2014 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of nutmeg, mace and cardamoms production in South-Eastern Asia reduced modestly to X ha, approximately equating the previous year's figure. The total harvested area indicated strong growth from 2012 to 2022: its figure increased at an average annual rate of +6.0% 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 harvested area increased by +79.2% against 2012 indices. The growth pace was the most rapid in 2018 when the harvested area increased by 16% against the previous year. The level of harvested area peaked at X ha in 2021, and then fell slightly in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of nutmeg, mace and cardamoms, when their volume decreased by -8.3% to X tons. Total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.4% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 32% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, nutmeg, mace and cardamom exports shrank to $X in 2022. Over the period under review, exports, however, recorded a perceptible increase. The pace of growth was the most pronounced in 2020 with an increase of 31%. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Indonesia prevails in exports structure, amounting to X tons, which was near 90% of total exports in 2022. It was distantly followed by Vietnam (X tons), comprising a 5.9% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to nutmeg, mace and cardamom exports from Indonesia stood at +5.1%. At the same time, Vietnam (+17.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +17.9% from 2012-2022. By contrast, Singapore (-4.6%) illustrated a downward trend over the same period. While the share of Vietnam (+4.1 p.p.) and Indonesia (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-4.6 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest nutmeg, mace and cardamom supplier in South-Eastern Asia, comprising 89% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Indonesia totaled +5.7%. In the other countries, the average annual rates were as follows: Vietnam (+10.0% per year) and Singapore (-7.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by 2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 35% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 (+0.5%), while the other leaders experienced a decline in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in South-Eastern Asia

In 2022, overseas purchases of nutmeg, mace and cardamoms decreased by -16.9% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports showed a perceptible slump. The pace of growth was the most pronounced in 2013 with an increase of 25%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom imports dropped notably to $X in 2022. Over the period under review, imports showed a noticeable decline. The growth pace was the most rapid in 2019 with an increase of 36% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons), distantly followed by Singapore (X tons), Malaysia (X tons), Thailand (X tons) and Lao People's Democratic Republic (X tons) represented the major importers of nutmeg, mace and cardamoms, together creating 92% of total imports. The following importers - Myanmar (X tons) and Indonesia (X tons) - each amounted to a 6.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +55.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom importing markets in South-Eastern Asia were Vietnam ($X), Singapore ($X) and Malaysia ($X), with a combined 86% share of total imports. Thailand, Indonesia, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 12%.

Lao People's Democratic Republic, with a CAGR of +21.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, declining by -13.6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 23% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+9.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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