Canada: Overview of the Market for Nutmeg, Mace And Cardamoms 2021

Market Size for Nutmeg, Mace And Cardamoms in Canada

In 2020, the Canadian nutmeg, mace and cardamom market increased by X% to $X, rising for the fifth consecutive year after three years of decline. Over the period under review, consumption posted a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Nutmeg, Mace And Cardamoms

Exports from Canada

In 2020, shipments abroad of nutmeg, mace and cardamoms decreased by -X% to X tonnes, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2015; however, from 2016 to 2020, exports remained at a lower figure.

In value terms, nutmeg, mace and cardamom exports skyrocketed to $X in 2020. In general, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure in 2020 and are likely to see gradual growth in the immediate term.

Exports by Country

The U.S. (X tonnes) was the main destination for nutmeg, mace and cardamom exports from Canada, with a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to the U.S. exceeded the volume sent to the second major destination, Trinidad and Tobago (X tonnes), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to the U.S. amounted to +X%.

In value terms, the U.S. ($X) remains the key foreign market for nutmeg, mace and cardamom exports from Canada, comprising X% of total exports. The second position in the ranking was occupied by Trinidad and Tobago ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. amounted to +X%.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per tonne in 2020, picking up by X% against the previous year. Overall, the export price continues to indicate moderate growth. The export price peaked at $X per tonne in 2012; however, from 2013 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Trinidad and Tobago stood at $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S..

Imports of Nutmeg, Mace And Cardamoms

Imports into Canada

In 2020, supplies from abroad of nutmeg, mace and cardamoms was finally on the rise to reach X tonnes after two years of decline. In general, imports recorded buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nutmeg, mace and cardamom imports skyrocketed to $X in 2020. Over the period under review, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tonnes), Guatemala (X tonnes) and India (X tonnes) were the main suppliers of nutmeg, mace and cardamom imports to Canada, together accounting for X% of total imports. Grenada, the U.S. and Viet Nam lagged somewhat behind, together accounting for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Viet Nam, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom suppliers to Canada were Guatemala ($X), India ($X) and Indonesia ($X), with a combined X% share of total imports.

Among the main suppliers, Guatemala saw the highest rates of growth with regard to 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 tonne in 2020, waning by -X% against the previous year. In general, import price indicated a moderate expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, nutmeg, mace and cardamom import price increased by +X% against 2013 indices. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2019, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Guatemala ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform