Overview
Indonesia
Indonesia remains to be the significant nutmeg supplier in the international market. However, the heavy rains in the region have affected the spice supply and resulted in the tight market for a short phase.
With the expectation of weather improving in Indonesia in the coming days, the farmers take care of the crop. They are harvesting the spice in limited quantities. The peak harvesting season is in April/May.
India
The crop is in the flowering stage, and the harvest is likely to start in May/June.
The locals are currently trading in small quantities only.
Price
Indonesia
The price in the local market is quoted at $9,600 MT for the seeds that have limited aflatoxin.
It is 15 percent lower than the organic nutmegs available in the market.
India
Currently, the Indian nutmeg price is more than Indonesian products since there is limited spice availability.
Mace’s price is firm and higher than Indonesia by 10 to 12 percent at $25,000 -28,000 MT.
Future
Indonesian nutmeg prices are likely to go down once Indian supply starts and enters the market. Also, Indonesia has more crops in the market compared to India.
The domestic market for mace is expected to remain good in Indonesia.
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