United Arab Emirates: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in the United Arab Emirates

The nutmeg, mace and cardamom market in the United Arab Emirates soared to $X in 2022, rising by 23% 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 continues to indicate a prominent expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Exports of Nutmeg, Mace And Cardamoms

Exports from the United Arab Emirates

After two years of decline, shipments abroad of nutmeg, mace and cardamoms increased by 24% to X tons in 2022. Overall, exports posted resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 129% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports rose remarkably to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 252% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for nutmeg, mace and cardamom exports from the United Arab Emirates, accounting for a 66% share of total exports. Moreover, nutmeg, mace and cardamom exports to India exceeded the volume sent to the second major destination, Tanzania (X tons), tenfold. Bahrain (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to India totaled +102.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+62.8% per year) and Bahrain (+26.7% per year).

In value terms, India ($X) emerged as the key foreign market for nutmeg, mace and cardamoms exports from the United Arab Emirates, comprising 65% of total exports. The second position in the ranking was held by Sweden ($X), with a 6.3% share of total exports. It was followed by Bahrain, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled +94.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+83.4% per year) and Bahrain (+37.3% per year).

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, which is down by -11.1% against the previous year. In general, the export price, however, showed strong growth. The most prominent rate of growth was recorded in 2020 an increase of 67%. The export price peaked at $X per ton in 2021, and then contracted in the following year.

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 Sweden ($X per ton), while the average price for exports to Tanzania ($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 Iran (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into the United Arab Emirates

In 2022, approx. X tons of nutmeg, mace and cardamoms were imported into the United Arab Emirates; picking up by 24% against 2021 figures. Overall, imports recorded a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by 82%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports skyrocketed to $X in 2022. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 106% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Guatemala (X tons), India (X tons) and Sri Lanka (X tons) were the main suppliers of nutmeg, mace and cardamom imports to the United Arab Emirates, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +17.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom suppliers to the United Arab Emirates were Guatemala ($X), India ($X) and Sri Lanka ($X), together accounting for 97% of total imports.

In terms of the main suppliers, India, with a CAGR of +23.5%, recorded the highest growth rate of 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

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 43% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained 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 India ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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