The market for mace, a prized spice and the vibrant outer covering of nutmeg seeds, continues to demonstrate notable resilience in 2025. With annual exports valued around $90 million and trade volumes showing modest year-on-year increases, mace remains a small yet significant part of the $10+ billion global dried spices sector. Despite volatility in producing nations—where recent softness in India contrasts with price stability in Indonesia—the market solidly underpins international spice commerce. Export prices in origin countries currently hover from $3.01 to $4.68/kg at wholesale, with retail rates in developed markets like the US ranging from $3.90 to $8.77/kg, reflecting both quality differentials and broader market dynamics.
In Europe, meanwhile, steady demand endures due to mace’s essential role in winter holiday preparations, despite declining total import volumes since 2019. Looking forward, the growth in organic and traceable spices, coupled with the expanding appeal of ethnic and functional food trends, supports a cautiously optimistic outlook for mace exporters. High-quality certification and close attention to major import markets remain key competitive strategies.
📈 Prices: Current Market Levels
| Exchange/Market | Grade | Location | Wholesale Price (EUR/kg) | Previous Price | Weekly Change | Sentiment |
|---|---|---|---|---|---|---|
| IN (New Delhi, FOB) | Mace Brown Grade-A | IN | 30.10 | 30.00 | +0.10 | Stable/Bullish |
| Indonesia (indicative) | Export | ID | 3.01 – 4.68 | — | Flat | Stable |
| US Retail | Various | US | 3.90 – 8.77 | — | — | Stable |
🌍 Supply & Demand Trends
- Global Supply: Key producers are Indonesia, India, Sri Lanka, and Grenada. Indonesia maintains price stability amid global fluctuations.
- Export Values: Global mace exports totaled $88.6 million in 2023, rising to an estimated $90 million in 2025.
- Import Hubs: Europe (1,400 tonnes/year on average), with a slight import decline since 2019; North America and premium markets show preference for certified, high-quality mace.
- Demand Drivers: Usage peaks during winter holidays in Europe and North America; increasing demand for organic, traceable, and ethnic food ingredients supports steady consumption.
- Price Disparities: Indian producers face softer prices in early 2025 due to slimmer domestic buying, while Indonesian prices are supported by steady regional demand.
📊 Fundamentals & Market Drivers
- Output & Inventory: Global inventories remain steady; exporters see opportunities in premiumization and traceability.
- Speculative Activity: Minimal speculative trade compared to larger commodities; pricing aligns closely with actual supply/demand flows.
- Market Trends: The $10 billion dried spice sector is forecast to grow to $10.8 billion by 2025, supporting mace’s relevance despite small market share.
- Export Recommendations: Emphasis on product quality, organic certification, and transparent origin to capture price premiums and maintain access to EU/US markets.
- Historical Comparison: Market structure and price levels have held steady compared to previous years, with slight upward trend in value due to added value initiatives and certified organic supply.
🌦️ Weather Outlook & Impact
- Indonesia: Consistent monsoonal rains currently ensure favorable mace crop conditions; negligible weather-related threats reported. (July 2025)
- India: Recent rainfall has been close to seasonal averages, supporting nutmeg and mace yields, but high humidity could necessitate increased disease monitoring.
- Sri Lanka, Grenada: Stable forecast, with no major adverse events; expected to sustain export volumes for the upcoming season.
- Yield Implications: Current weather supports generally stable output, with no major disruptions anticipated in the near term.
🌐 Global Production & Stock Snapshot
| Country | 2023 Exports (Tonnes) | 2025 Projection | Remarks |
|---|---|---|---|
| Indonesia | ~1,200 | Stable | Main global supplier, price leader |
| India | ~850 | Slightly down | Soft prices impact grower profitability |
| Sri Lanka | ~200 | Stable | Consistent export performance |
| Grenada | ~100 | Stable | Niche, high-value exports |
📆 Trading Outlook & Pro Recommendations
- Monitor seasonal demand cycles in Europe and the US, especially ahead of the holiday period.
- Exporters: Emphasize traceability, organic certification, and quality to capture price premiums.
- Importers: Consider forward contracting to secure supply at currently stable prices.
- Producers: Watch for regional buying shifts, especially as India’s domestic buying looks subdued in the near term.
- All market players: Track weather developments and shipping logistics updates to preempt possible disruptions.
🔮 3-Day Regional Price Forecast
- India (FOB): EUR 30.00 – 30.20/kg (stable, minor firming on improved export interest)
- Indonesia (FOB): EUR 3.10 – 4.70/kg (steady amid firm regional demand)
- EU Wholesale: EUR 5.00 – 6.00/kg (neutral, seasonal buying anticipated)
- US Retail: EUR 4.00 – 8.80/kg (stable)