India is the one of the largest producer and consumer of spices globally, and is also one of the leading spice exporting country. According to Spices Board of India, spices exports from India witnessed a CAGR of 11.53% by volume and 9.21% by value (in terms of USD) during the period from 2010/11 to 2020/21.
During 2020/21, a total of 1,565 thousand tonnes of spices and spice products valued USD 3.62 billion (INR 2.72 billion) have been exported from the Country. India exports of spices & spice products attained an all-time record in terms of both volume and value in 2020/21, registering an increase of 30% in volume, 17% in dollar terms (23% in rupee terms) of value compared to 2019/2020 exports.
India produces nearly 12-15 thousand tonnes (with shell) of nutmeg and mace annually from an average area of 18-24 thousand hectares. India production is not sufficient to meet its domestic requirement of mace and hence, nearly 50-60% of it’s mace requirement is met through the imports especially from Indonesia.
Kerala is the largest contributor of nutmeg & mace production and accounted for 95.13% share in India total production in 2020/21.
Nutmeg and mace exports accounted for a share of 0.25% by volume and 0.70% by value (INR terms) in India total spice and spice products exports in 2020/21.
India exported 3.81 thousand tonnes of nutmeg and mace valued at INR 1.91 billion in 2020/21 (in which 98% is nutmeg & 2% is mace). UAE was the largest importer and accounted for 39% share in India’s total exports of nutmeg and mace in 2020/21, followed by USA and Nigeria. Top 10 countries imports cumulatively accounted for a share of 73% (by volume) in India’s exports of total nutmeg and mace in 2020/2021. Whole nutmeg and mace (neither crushed nor grounded) exports accounted for 71% in 2020-2021.
India imported 2.58 thousand tonnes of nutmeg and mace worth of INR 2.25 billion in 2020/21. Imports majorly comes from Indonesia and Sri Lanka. India majorly imports mace to meet the domestic requirement where domestic production is not sufficient. On the other hand, nutmeg and mace imports are also intended to meet the re-export purpose of India traders.
Nutmeg and mace prices reached a peak price levels of 2013/2014. Nutmeg (without shell) prices stood at INR 385.5 per kg in 2019-2020 due to the reduced demand during COVID-19 period. Prices have recovered in 2020-2021 towards INR 448.15 per kg on rising demand from major application sectors locally and internationally.
For more details: https://www.statledger.com/collection/India_Nutmeg_mace_market
