Hong Kong SAR, China: Market for Nutmeg, Mace And Cardamoms 2022

Market Size for Nutmeg, Mace And Cardamoms in Hong Kong SAR, China

In 2021, the Hong Kong nutmeg, mace and cardamom market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, saw a pronounced reduction. Nutmeg, mace and cardamom consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Nutmeg, Mace And Cardamoms

Exports from Hong Kong SAR, China

In 2021, the amount of nutmeg, mace and cardamoms exported from Hong Kong SAR expanded remarkably to X tonnes, surging by X% compared with the previous year. Over the period under review, exports, however, recorded a slight setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% y-o-y. As a result, the exports attained the peak of X tonnes. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports skyrocketed to $X in 2021. Overall, exports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tonnes) was the main destination for nutmeg, mace and cardamom exports from Hong Kong SAR, with a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to China exceeded the volume sent to the second major destination, South Africa (X kg), more than tenfold. Vietnam (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-X% per year) and Vietnam (+X% per year).

In value terms, China ($X) emerged as the key foreign market for nutmeg, mace and cardamom exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was occupied by South Africa ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-X% per year) and the Philippines (-X% per year).

Export Prices by Country

In 2021, the average nutmeg, mace and cardamom export price amounted to $X per tonne, rising by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of X% y-o-y. The export price peaked at $X per tonne in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the Philippines ($X per tonne), while the average price for exports to China ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into Hong Kong SAR, China

In 2021, overseas purchases of nutmeg, mace and cardamoms increased by X% to X tonnes, rising for the third year in a row after two years of decline. In general, imports, however, saw a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at X tonnes in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports soared to $X in 2021. Overall, imports, however, continue to indicate a mild slump. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tonnes), India (X tonnes) and Malaysia (X tonnes) were the main suppliers of nutmeg, mace and cardamom imports to Hong Kong SAR, together comprising X% of total imports. Japan, Taiwan (Chinese), China and Thailand lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Taiwan (Chinese) (+X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of nutmeg, mace and cardamom to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and Indonesia (-X% per year).

Import Prices by Country

In 2021, the average nutmeg, mace and cardamom import price amounted to $X per tonne, jumping by X% against the previous year. In general, the import price enjoyed prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($X per tonne), while the price for Taiwan (Chinese) ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform