Portugal: Market for Nutmeg, Mace And Cardamoms 2022

Market Size for Nutmeg, Mace And Cardamoms in Portugal

The Portuguese nutmeg, mace and cardamom market expanded rapidly to $X in 2021, 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, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Nutmeg, Mace And Cardamoms

Exports from Portugal

In 2021, overseas shipments of nutmeg, mace and cardamoms decreased by -X% to X tonnes for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at X tonnes in 2020, and then fell in the following year.

In value terms, nutmeg, mace and cardamom exports shrank to $X in 2021. In general, exports, however, continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% y-o-y. The exports peaked at $X in 2020, and then contracted in the following year.

Exports by Country

Spain (X tonnes) was the main destination for nutmeg, mace and cardamom exports from Portugal, accounting for a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to Spain exceeded the volume sent to the second major destination, Angola (X tonnes), threefold. Cabo Verde (X tonnes) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+X% per year) and Cabo Verde (+X% per year).

In value terms, Spain ($X) remains the key foreign market for nutmeg, mace and cardamom exports from Portugal, comprising X% of total exports. The second position in the ranking was occupied by Angola ($X), with an X% share of total exports. It was followed by Cabo Verde, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-X% per year) and Cabo Verde (-X% per year).

Export Prices by Country

In 2021, the average nutmeg, mace and cardamom export price amounted to $X per tonne, with a decrease of -X% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Cabo Verde ($X per tonne), while the average price for exports to Mozambique ($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 Spain (-X%), while the prices for the other major destinations experienced a decline.

Imports of Nutmeg, Mace And Cardamoms

Imports into Portugal

In 2021, supplies from abroad of nutmeg, mace and cardamoms decreased by -X% to X tonnes, falling for the second year in a row after two years of growth. In general, total imports indicated a measured increase from 2012 to 2021: its volume 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, imports decreased by -X% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tonnes. From 2020 to 2021, the growth imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

France (X tonnes), Spain (X tonnes) and Germany (X tonnes) were the main suppliers of nutmeg, mace and cardamom imports to Portugal, together comprising X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (+X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Germany ($X) appeared to be the largest nutmeg, mace and cardamom suppliers to Portugal, with a combined X% share of total imports.

Germany, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per tonne in 2021, growing by X% against the previous year. Over the period under review, the import price, however, recorded a perceptible slump. The import price peaked at $X per tonne in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform