Guatemala: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Guatemala

After two years of decline, the Guatemalan nutmeg, mace and cardamom market increased by X% to $X in 2022. Over the period under review, consumption, however, showed a deep setback. Nutmeg, mace and cardamom consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Nutmeg, Mace And Cardamoms in Guatemala

In value terms, nutmeg, mace and cardamom production dropped modestly to $X in 2022 estimated in export price. In general, production showed a buoyant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

In 2022, the average nutmeg, mace and cardamom yield in Guatemala surged to X kg per ha, growing by X% against the previous year's figure. In general, the yield indicated modest growth from 2012 to 2022: its figure 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 yield decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the yield increased by X%. As a result, the yield reached the peak level of X kg per ha. From 2021 to 2022, the growth of the average nutmeg, mace and cardamom yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The nutmeg, mace and cardamom harvested area in Guatemala reduced slightly to X ha in 2022, therefore, remained relatively stable against the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The nutmeg, mace and cardamom harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports from Guatemala

In 2022, the amount of nutmeg, mace and cardamoms exported from Guatemala expanded rapidly to X tons, growing by X% compared with the previous year's figure. In general, total exports indicated a prominent 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 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports dropped dramatically to $X in 2022. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Jordan (X tons) were the main destinations of nutmeg, mace and cardamom exports from Guatemala, together accounting for X% of total exports. Bangladesh, Turkey, Israel, Pakistan, Egypt, Syrian Arab Republic, the Netherlands, Singapore, the United States and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Jordan ($X) constituted the largest markets for nutmeg, mace and cardamom exported from Guatemala worldwide, with a combined X% share of total exports. Bangladesh, Egypt, Pakistan, Israel, Turkey, the United States, Syrian Arab Republic, the Netherlands, Singapore and India lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

Imports of Nutmeg, Mace And Cardamoms

Imports into Guatemala

Nutmeg, mace and cardamom imports into Guatemala soared to X tons in 2022, picking up by X% on 2021 figures. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, nutmeg, mace and cardamom imports fell to $X in 2022. Over the period under review, imports posted a strong increase. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Honduras (X tons) was the main supplier of nutmeg, mace and cardamom to Guatemala, accounting for a X% share of total imports. It was followed by India (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Honduras totaled X%.

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

From 2012 to 2022, the average annual rate of growth in terms of value from Honduras stood at X%.

Import Prices by Country

In 2022, the average nutmeg, mace and cardamom import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 Honduras amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (X%).

Source: IndexBox Platform

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