Greece: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Greece

The Greek nutmeg, mace and cardamom market totaled $X in 2022, growing by X% 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). Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Exports of Nutmeg, Mace And Cardamoms

Exports from Greece

In 2022, overseas shipments of nutmeg, mace and cardamoms decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped notably in the following year.

In value terms, nutmeg, mace and cardamom exports contracted sharply to $X in 2022. In general, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined markedly in the following year.

Exports by Country

Cyprus (X tons) was the main destination for nutmeg, mace and cardamom exports from Greece, accounting for a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to Cyprus exceeded the volume sent to the second major destination, Germany (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Cyprus stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Ireland (X% per year).

In value terms, Cyprus ($X) remains the key foreign market for nutmeg, mace and cardamoms exports from Greece, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cyprus amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Ireland (X% per year).

Export Prices by Country

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price 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, nutmeg, mace and cardamom export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Cyprus ($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 Cyprus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Imports of Nutmeg, Mace And Cardamoms

Imports into Greece

In 2022, nutmeg, mace and cardamom imports into Greece expanded sharply to X tons, picking up by X% on the previous year. In general, total imports indicated a temperate 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom imports contracted modestly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then contracted modestly in the following year.

Imports by Country

In 2022, Italy (X tons) constituted the largest nutmeg, mace and cardamom supplier to Greece, accounting for a X% share of total imports. Moreover, nutmeg, mace and cardamom imports from Italy exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Guatemala (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Guatemala (X% per year).

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

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

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :