Singapore: Overview of the Market for Nutmeg, Mace And Cardamoms 2021

Market Size for Nutmeg, Mace And Cardamoms in Singapore

In 2019, the Singaporean nutmeg, mace and cardamom market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a abrupt downturn. Nutmeg, mace and cardamom consumption peaked at $X in 2009; however, from 2010 to 2019, consumption remained at a lower figure.

Production of Nutmeg, Mace And Cardamoms in Singapore

In value terms, nutmeg, mace and cardamom production expanded slightly to $X in 2019 estimated in export prices. Overall, the total production indicated a remarkable increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +X% against 2015 indices. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. Nutmeg, mace and cardamom production peaked in 2019 and is likely to continue growth in the near future.

The average yield of nutmeg, mace and cardamoms in Singapore amounted to X kg per ha in 2019, approximately equating the previous year. Overall, the yield continues to indicate 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.

In 2019, the harvested area of nutmeg, mace and cardamoms in Singapore amounted to X ha, approximately mirroring the year before. Over the period under review, the harvested area recorded a relatively flat trend pattern.

Exports of Nutmeg, Mace And Cardamoms

Exports from Singapore

In 2019, overseas shipments of nutmeg, mace and cardamoms decreased by -X% to X tonnes, falling for the fourth consecutive year after three years of growth. Overall, exports showed a noticeable setback. The growth pace was the most rapid in 2014 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2015; however, from 2016 to 2019, exports stood at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom exports fell rapidly to $X in 2019. In general, exports recorded a tangible expansion. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. Over the period under review, exports attained the peak figure at $X in 2015; however, from 2016 to 2019, exports remained at a lower figure.

Exports by Country

India (X tonnes) was the main destination for nutmeg, mace and cardamom exports from Singapore, with a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to India exceeded the volume sent to the second major destination, Malaysia (X tonnes), ninefold. The third position in this ranking was occupied by Indonesia (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to India totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and Indonesia (-X% per year).

In value terms, India ($X) emerged as the key foreign market for nutmeg, mace and cardamom exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total exports. It was followed by Fiji, with a X% share.

From 2007 to 2019, the average annual growth rate of value to India totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and Fiji (+X% per year).

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per tonne in 2019, increasing by X% against the previous year. Over the period under review, export price indicated strong growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, nutmeg, mace and cardamom export price increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2010 an increase of X% y-o-y. The export price peaked in 2019 and is likely to see steady growth in the near future.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia, while the prices for the other major destinations experienced mixed trend patterns.

Imports of Nutmeg, Mace And Cardamoms

Imports into Singapore

In 2019, approx. X tonnes of nutmeg, mace and cardamoms were imported into Singapore; which is down by -X% on the previous year. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tonnes in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom imports dropped to $X in 2019. In general, imports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2009 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2010 to 2019, the growth imports remained at a lower figure.

Imports by Country

In 2019, Guatemala (X tonnes) constituted the largest supplier of nutmeg, mace and cardamom to Singapore, accounting for a X% share of total imports. Moreover, nutmeg, mace and cardamom imports from Guatemala exceeded the figures recorded by the second-largest supplier, India (X tonnes), more than tenfold. The third position in this ranking was occupied by Indonesia (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Guatemala totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and Indonesia (-X% per year).

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

From 2007 to 2019, the average annual growth rate of value from Guatemala 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 2019, the average nutmeg, mace and cardamom import price amounted to $X per tonne, picking up by X% against the previous year. In general, the import price recorded measured growth. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2009; however, from 2010 to 2019, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Guatemala ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Guatemala, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nutmeg, mace and cardamoms in the world?

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The country with the largest volume of nutmeg, mace and cardamom consumption was India (43K tonnes), accounting for 34% of total volume. Moreover, nutmeg, mace and cardamom consumption in India exceeded the figures recorded by the second-largest consumer, Indonesia (19K tonnes), twofold. Saudi Arabia (9.4K tonnes) ranked third in terms of total consumption with a 7.4% share.

What are the largest producers of nutmeg, mace and cardamoms in the world?

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The countries with the highest volumes of nutmeg, mace and cardamom production in 2019 were Indonesia (44K tonnes), Guatemala (38K tonnes) and India (38K tonnes), together accounting for 82% of global production.

What are the leading suppliers of nutmeg, mace and cardamoms to Singapore?

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In value terms, Guatemala ($2.5M) constituted the largest supplier of nutmeg, mace and cardamom to Singapore, comprising 89% of total imports. The second position in the ranking was occupied by India ($112K), with a 4% share of total imports. It was followed by Indonesia, with a 2.1% share.

What are the leading importers of nutmeg, mace and cardamoms from Singapore?

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In value terms, India ($3.2M) emerged as the key foreign market for nutmeg, mace and cardamom exports from Singapore, comprising 82% of total exports. The second position in the ranking was occupied by Malaysia ($588K), with a 15% share of total exports. It was followed by Fiji, with a 1.7% share.

What is the average export price for nutmeg, mace and cardamoms in Singapore?

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The average nutmeg, mace and cardamom export price stood at $11,973 per tonne in 2019, picking up by 3.3% against the previous year.

What is the average import price for nutmeg, mace and cardamoms in Singapore?

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In 2019, the average nutmeg, mace and cardamom import price amounted to $9,330 per tonne, with an increase of 3.9% against the previous year.