Australia: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Australia

In 2022, after three years of growth, there was significant decline in the Australian nutmeg, mace and cardamom market, when its value decreased by X% to $X. Overall, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. Nutmeg, mace and cardamom consumption peaked at $X in 2021, and then fell notably in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports from Australia

In 2022, approx. X tons of nutmeg, mace and cardamoms were exported from Australia; with an increase of X% compared with the year before. Over the period under review, total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure 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 rose remarkably to $X in 2022. In general, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for nutmeg, mace and cardamom exports from Australia, with a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to New Zealand exceeded the volume sent to the second major destination, India (X tons), threefold. The third position in this ranking was held by Papua New Guinea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Papua New Guinea (X% per year).

In value terms, New Zealand ($X), India ($X) and Papua New Guinea ($X) appeared to be the largest markets for nutmeg, mace and cardamom exported from Australia worldwide, with a combined X% share of total exports.

Among the main countries of destination, India, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Singapore ($X per ton), while the average price for exports to New Zealand ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into Australia

In 2022, supplies from abroad of nutmeg, mace and cardamoms increased by X% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom imports declined dramatically to $X in 2022. In general, imports enjoyed a notable increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then contracted markedly in the following year.

Imports by Country

India (X tons), Indonesia (X tons) and Vietnam (X tons) were the main suppliers of nutmeg, mace and cardamom imports to Australia, with a combined X% share of total imports. Guatemala, Honduras, Sri Lanka and China lagged somewhat behind, together comprising a further X%.

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

In value terms, India ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Australia, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports. It was followed by Guatemala, with an X% share.

From 2012 to 2022, the average annual growth rate of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Guatemala (X% per year).

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible increase. The growth pace was the most rapid in 2017 an increase of X%. 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 India ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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