Global demand for natural, nutritional, and fresh ingredients has increased. The market for nutmeg (whole, crushed, or ground) is a prime example. The growth is forecasted to grow at an annual rate of 6% from 2020 – 2025. Further, this growth can be skyrocketing due to its popularity among Asian cuisine like Indian and Thai food, especially in the United States.
Nutmeg is the seed of the fruit of an evergreen tree that’s native to Indonesia. The tree produces two different spices – nutmeg and mace. By comparison, mace is the flavor you taste in pumpkin pie, while nutmeg is more often used in savory dishes.
Indonesia, Guatemala, India, Nepal, and Lao People’s Democratic Republic rank as the top 5 world’s-leading nutmeg producers. Year after year, the solicitation of nutmeg in the global supply chain tends to take everyone by surprise.
Above all, Indonesia has supplied the demands of small businesses to top manufacturers in the US. Take Essence Food & Beverage, LLC for example, who supplies wholesale nutmeg and bulk nutmeg at the most competitive price. With the luxury of no ‘middlemen,’ we import directly from the growers in Java, Indonesia. In other words, it’s a shorter supply chain, where nutmeg is fresh, all-natural, and offered at a much lower price.
Nutmeg Whole and Ground Market Price
Manufacturers and consumers seek health-conscious ingredients, and the demand continues to grow. In order to fulfill the demand, nutmeg is sold as a whole and grounded. Overall, whether importing a container of nutmeg or buying retail-ready nutmeg at your local supermarket, this spice has maintained its place as one of the top consumed spices in the world.
Climate Change Obstacles in Nutmeg World Price
Location, elevation, and humidity are the defining factors of healthy and sustainable nutmeg cultivation. Much like they are for other raw commodities.Through the years, climate change has reduced the production volume of nutmeg in Indonesia and other top producing countries. As a result, nutmeg growers are being affected with the risk of affecting their cultivation mechanisms, formulation process, and the decrease in the quality of the nutmeg itself. With an imbalance of supply and demand, nutmeg suppliers have increased their price. Additionally, other important factors impacting the price of nutmeg in 2022 are the crop defects where not every nutmeg grown passes our sourcing criteria. In other words, total available inventory of the best quality nutmeg decreases while the demand for nutmeg increases causing the global nutmeg market expense to rise to high prices.
Presently, the price reported for nutmeg for both export and import transactions in the United States ranges between $8.7 USD and $10.7 USD per kilogram, at intervals of $4.3 USD and $5.3 USD per pound.
Where to Buy Nutmeg Whole or Bulk Nutmeg at an Affordable Price?
Essence Food & Beverage, LLC has adapted to market trends to meet manufacturing and local business demands for nutmeg whole A/B, Planifolia vanilla beans and other bulk spices in the United States. Thus, if you are a manufacturer buying bulk nutmeg or at wholesale price, you can expect a friendlier price when doing business directly with the supplier.
Therefore, direct-trade sellers may be the best option for you when buying bulk nutmeg. In fact, the direct-trade companies who build long-term relationships with their farmers have more credibility to lock your contract price rather than small business exporters.
Essence Food & Beverage LLC as a direct-trade supplier from their farmers in Indonesia is an example. Be careful of your choice. You deserve nutmeg with affordable prices and maintained quality in the midst of nutmeg price mark-up.
