Spices; Nutmeg Price in Indonesia - 2022

Spices; Nutmeg Price in Indonesia (FOB) - 2022

In 2022, the average spices; nutmeg export price amounted to $5,676 per ton, dropping by -3.5% against the previous year. Over the period under review, the export price showed a slight setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices reached the maximum at $6,328 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 the United States ($25,515 per ton), while the average price for exports to Spain ($375 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 United States (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Spices; Nutmeg Price in Indonesia (CIF) - 2022

In 2022, the average spices; nutmeg import price amounted to $297 per ton, shrinking by -23.9% against the previous year. Overall, the import price continues to indicate a dramatic decline. The most prominent rate of growth was recorded in 2018 an increase of 164% against the previous year. Over the period under review, average import prices hit record highs at $12,747 per ton in 2012; however, from 2013 to 2022, import prices stood 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 Malaysia ($318 per ton), while the price for the United States totaled $170 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Timor-Leste (+13,575.0%), while the prices for the other major suppliers experienced a decline.

Spices; Nutmeg Exports in Indonesia

In 2022, overseas shipments of spices; nutmeg were finally on the rise to reach 57 tons after two years of decline. In general, exports, however, saw a perceptible decrease.

In value terms, spices; nutmeg exports shrank modestly to $324K in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 0.7% against the previous year. As a result, the exports attained the peak of $325K, leveling off in the following year.

Export of Spices; Nutmeg in Indonesia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	66.3	71.1	75.9	79.8	6.4%
Vietnam	67.9	68.9	69.5	69.0	0.5%
United States	44.7	44.0	43.0	41.4	-2.5%
France	20.8	22.4	24.0	25.4	6.9%
Italy	28.5	26.7	25.0	23.0	-6.9%
Japan	19.6	17.9	16.3	14.5	-9.6%
Venezuela	7.0	7.6	8.1	8.6	7.1%
South Korea	6.8	7.4	7.9	8.3	6.9%
Netherlands	12.3	10.3	8.5	6.9	-17.5%
Switzerland	4.5	4.8	5.2	5.5	6.9%
Brazil	2.8	3.0	3.2	3.4	6.7%
Russia	3.1	3.0	2.9	2.8	-3.3%
Spain	0.9	0.7	0.5	0.4	-23.7%
Others	35.4	35.2	35.3	35.1	-0.3%
Total	321	323	325	324	0.3%

Top Export Markets for Spices; Nutmeg from Indonesia in 2022:

Vietnam (14.7 tons)
France (10.2 tons)
Japan (5.4 tons)
Italy (5.2 tons)
Germany (3.9 tons)
Brazil (2.5 tons)
Netherlands (2.5 tons)
South Korea (1.9 tons)
United States (1.6 tons)
Venezuela (1.6 tons)
Spain (1.1 tons)
Switzerland (1.0 tons)
Russia (0.8 tons)

Spices; Nutmeg Imports in Indonesia

For the fourth year in a row, Indonesia recorded growth in purchases abroad of spices; nutmeg, which increased by 47% to 343 kg in 2022. In general, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spices; nutmeg imports expanded sharply to $102 in 2022. Over the period under review, imports, however, recorded a abrupt shrinkage.