Mexico: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Mexico

The Mexican nutmeg, mace and cardamom market declined remarkably to $X in 2022, waning by X% against the previous year. In general, consumption saw a slight curtailment. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Production of Nutmeg, Mace And Cardamoms in Mexico

In value terms, nutmeg, mace and cardamom production surged to $X in 2022 estimated in export price. Over the period under review, production enjoyed significant growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The average yield of nutmeg, mace and cardamoms in Mexico was estimated at less than X kg per ha in 2022, therefore, remained relatively stable against the previous year's figure. Overall, the yield saw a relatively flat trend pattern. 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 Mexico totaled less than X ha in 2022, approximately equating 2021 figures. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

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Exports of Nutmeg, Mace And Cardamoms

Exports from Mexico

Nutmeg, mace and cardamom exports from Mexico skyrocketed to X tons in 2022, picking up by X% against the previous year. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, nutmeg, mace and cardamom exports surged to $X in 2022. Over the period under review, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for nutmeg, mace and cardamom exports from Mexico, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%.

In value terms, the United States ($X) emerged as the key foreign market for nutmeg, mace and cardamoms exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price recorded a sharp shrinkage. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Imports of Nutmeg, Mace And Cardamoms

Imports into Mexico

In 2022, overseas purchases of nutmeg, mace and cardamoms increased by X% to X tons, rising for the fifth year in a row after four years of decline. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom imports contracted rapidly to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value 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 2017 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Indonesia (X tons) and Guatemala (X tons) were the main suppliers of nutmeg, mace and cardamom imports to Mexico.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constituted the largest supplier of nutmeg, mace and cardamoms to Mexico, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Guatemala (X% per year).

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, however, saw notable growth. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 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 Indonesia ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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