Malaysia: Market for Nutmeg, Mace And Cardamoms 2022

Market Size for Nutmeg, Mace And Cardamoms in Malaysia

After three years of growth, the Malaysian nutmeg, mace and cardamom market decreased by -X% to $X in 2021. In general, the total consumption indicated a slight expansion from 2012 to 2021: its value decreased at an average annual rate of -X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then fell sharply in the following year.

Production of Nutmeg, Mace And Cardamoms in Malaysia

In value terms, nutmeg, mace and cardamom production contracted markedly to $X in 2021 estimated in export prices. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

In 2021, the average yield of nutmeg, mace and cardamoms in Malaysia stood at X tonnes per ha, growing by X% against 2020 figures. Overall, the yield, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2013 with an increase of X% y-o-y. As a result, the yield attained the peak level of X tonnes per ha. From 2014 to 2021, 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 Malaysia contracted to X ha in 2021, waning by -X% compared with the year before. Over the period under review, the harvested area saw a pronounced setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to nutmeg, mace and cardamom production attained the maximum at X ha in 2016; however, from 2017 to 2021, the harvested area stood at a somewhat lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports from Malaysia

In 2021, shipments abroad of nutmeg, mace and cardamoms decreased by -X% to X tonnes, falling for the third year in a row after two years of growth. Over the period under review, exports continue to indicate a deep slump. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. The exports peaked at X tonnes in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, nutmeg, mace and cardamom exports contracted dramatically to $X in 2021. Overall, exports saw a perceptible descent. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Over the period under review, the exports reached the peak figure at $X in 2020, and then reduced notably in the following year.

Exports by Country

South Korea (X tonnes) was the main destination for nutmeg, mace and cardamom exports from Malaysia, accounting for a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to South Korea exceeded the volume sent to the second major destination, Thailand (X tonnes), twofold. The third position in this ranking was occupied by New Zealand (X tonnes), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-X% per year) and New Zealand (-X% per year).

In value terms, the largest markets for nutmeg, mace and cardamom exported from Malaysia were South Korea ($X), Thailand ($X) and New Zealand ($X), with a combined X% share of total exports. These countries were followed by Taiwan (Chinese), Singapore, Hong Kong SAR and Australia, which together accounted for a further X Kong SAR, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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. Overall, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nutmeg, mace and cardamom export price increased by +X% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was New Zealand ($X per tonne), while the average price for exports to Singapore ($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 Thailand (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into Malaysia

In 2021, imports of nutmeg, mace and cardamoms into Malaysia reduced remarkably to X tonnes, with a decrease of -X% compared with 2020 figures. Over the period under review, imports showed a deep setback. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. As a result, imports reached the peak of X tonnes. From 2017 to 2021, the growth imports failed to regain momentum.

In value terms, nutmeg, mace and cardamom imports shrank sharply to $X in 2021. In general, imports enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, imports hit record highs at $X in 2020, and then dropped markedly in the following year.

Imports by Country

India (X tonnes) and Guatemala (X tonnes) were the main suppliers of nutmeg, mace and cardamom imports to Malaysia.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (+X value terms, the largest nutmeg, mace and cardamom suppliers to Malaysia were India ($X) and Guatemala ($X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per tonne in 2021, shrinking by -X% against the previous year. In general, the import price, however, showed resilient growth. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per tonne, and then contracted modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was India ($X per tonne), while the price for Guatemala amounted to $X per tonne.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+X%).

Source: IndexBox Platform