Sri Lanka: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Sri Lanka

The Sri Lankan nutmeg, mace and cardamom market expanded markedly to $X in 2022, with an increase of 12% against the previous year. Overall, consumption showed strong growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Nutmeg, Mace And Cardamoms in Sri Lanka

In value terms, nutmeg, mace and cardamom production expanded to $X in 2022 estimated in export price. In general, production showed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 525%. Nutmeg, mace and cardamom production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average nutmeg, mace and cardamom yield in Sri Lanka skyrocketed to X tons per ha, rising by 17% on the year before. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 51%. Over the period under review, the average nutmeg, mace and cardamom yield reached the peak level at X tons per ha in 2017; however, from 2018 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, approx. X ha of nutmeg, mace and cardamoms were harvested in Sri Lanka; flattening at the previous year. In general, the harvested area, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 86% against the previous year. The nutmeg, mace and cardamom harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area failed to regain momentum.

Exports of Nutmeg, Mace And Cardamoms

Exports from Sri Lanka

After two years of decline, shipments abroad of nutmeg, mace and cardamoms increased by 12% to X tons in 2022. In general, total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 72%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports expanded to $X in 2022. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when exports increased by 52%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons), China (X tons) and Bangladesh (X tons) were the main destinations of nutmeg, mace and cardamom exports from Sri Lanka, with a combined 64% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +915.4%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for nutmeg, mace and cardamoms exports from Sri Lanka, comprising 35% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by the United Arab Emirates, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+11.7% per year) and the United Arab Emirates (+8.7% per year).

Export Prices by Country

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, reducing by -7.6% against the previous year. Over the period under review, the export price showed a perceptible curtailment. The pace of growth appeared the most rapid in 2021 an increase of 22% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Pakistan ($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 the Dominican Republic (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into Sri Lanka

Nutmeg, mace and cardamom imports into Sri Lanka plummeted to X kg in 2022, declining by -99.3% on 2021 figures. Over the period under review, imports saw a sharp curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 230% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports fell rapidly to $X in 2022. In general, imports saw a precipitous descent. The pace of growth was the most pronounced in 2016 when imports increased by 189%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X kg) constituted the largest nutmeg, mace and cardamom supplier to Sri Lanka, with a 78% share of total imports. Moreover, nutmeg, mace and cardamom imports from India exceeded the figures recorded by the second-largest supplier, China (X kg), fivefold. The third position in this ranking was held by Germany (X kg), with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled -25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and Germany (-30.7% per year).

In value terms, India ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Sri Lanka, comprising 92% of total imports. The second position in the ranking was taken by Germany ($X), with a 3.1% share of total imports. It was followed by Pakistan, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value from India stood at -26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-37.8% per year) and Pakistan (0.0% per year).

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, dropping by -16.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 42% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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