Sri Lanka Nutmeg 2023 Retail Prices
The retail price range for Sri Lanka nutmeg in September is between US$ 6.59 and US$ 9.99 per kilogram or between US$ 2.99 and US$ 4.53 per pound(lb). Click here to see today's prices of nutmeg in Sri Lanka
The retail price range in Sri Lanka Rupee for nutmeg is between LKR 2027.69 and LKR 3073.85 per kilogram or between LKR 919.59 and LKR 1394.03 per pound(lb) in Colombo and Jaffna.
Wholesale prices
In 2023, the approximate wholesale price range for Sri Lanka nutmeg is between US$ 4.61 and US$ 6.99 per kilogram or between US$ 2.09 and US$ 3.17 per pound(lb).
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Sri Lanka Nutmeg Export Prices - Historical, Trends and Prediction
The export price of Nutmeg from Sri Lanka over the last five years has been quite volatile. In 2012, the price was 10.93 US$ per kg, which then rose to 19.07 US$ per kg in 2013. However, the price dropped significantly in 2014 to 9.05 US$ per kg. The price then continued to decline, reaching 7.12 US$ per kg in 2015 and 7.29 US$ per kg in 2016. In 2017, the price dropped to its lowest point of 6.06 US$ per kg, before increasing to 5.44 US$ per kg in 2019. The price then rose again to 6.2 US$ per kg in 2020 and 7.78 US$ per kg in 2021. Based on this data, it is predicted that the export price of Nutmeg from Sri Lanka will be 8.45 US$ per kg in 2023 and 9.02 US$ per kg in 2024.The nutmeg exports from Sri Lanka are classified as:
- Nutmeg, crushed or ground (HS code 090812)
- Nutmeg (HS code 0908Xa)
- Nutmeg (HS code 090810)
- Nutmeg, neither crushed nor ground (HS code 090811)
Sri Lanka Nutmeg Import Prices - Historical, Trends and Prediction
The import price per kilogram of Nutmeg into Sri Lanka over the last five years has been quite volatile. In 2012, the price was 10.93 US dollars per kg, which then rose to 19.07 US dollars per kg in 2013. However, the price dropped significantly in 2014 to 9.05 US dollars per kg. The price then continued to decline in 2015 and 2016, reaching 7.12 US dollars per kg and 7.29 US dollars per kg respectively. In 2017, the price dropped further to 6.06 US dollars per kg, before increasing to 5.44 US dollars per kg in 2019. The price then rose again in 2020 to 6.20 US dollars per kg, before reaching its highest point in 2021 at 7.78 US dollars per kg. Based on this trend, it is likely that the price of Nutmeg in Sri Lanka will continue to increase in the coming years. We can predict that the price of Nutmeg in 2023 will be around 8.50 US dollars per kg and in 2024 it will be around 9.20 US dollars per kg.Export values for Sri Lanka nutmeg
The total values in export for nutmeg in Sri Lanka were US$ 11,005, US$ 10,247, US$ 9,778 and US$ 13,894 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Herbs and Spices category in Sri Lanka: Garlic, Pepper, Capsicum (Bell Pepper), Vanilla, Cinnamon, Cloves, Mace, Cardamom, Anise & Coriander seeds.
See prices of nutmeg in other countries across Asia: Kazakhstan nutmeg, Kyrgyzstan nutmeg, Tajikistan nutmeg, Turkmenistan nutmeg, Uzbekistan nutmeg, China nutmeg, Hong Kong nutmeg, Macao nutmeg, North Korea nutmeg & Mongolia nutmeg.
Sri Lanka nutmeg - Production, Exports, Imports, Seasons and HS Codes
In 2019 Sri Lanka exported 2,412 tonnes of nutmeg. Across 2019 alone, the market for Sri Lanka nutmeg (herbs and spices category) has increased, flactuating by 67.967 per cent compared to the year 2018. Between 2017 and 2019, nutmeg's exports grew by 42.55 percent bringing Sri Lanka US$13.89m for the year 2019. Sri Lanka's nutmeg exports are categorised as:
- Nutmeg, neither crushed nor ground (HS code 090811)
- Nutmeg (HS code 090810)
- Nutmeg, crushed or ground (HS code 090812)
- Nutmeg (HS code 0908Xa)
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Sri Lanka nutmeg export values
In 2019, Sri Lanka exported nutmeg with a value of 13.89m USD, a surge of 42.05% from 2018's total nutmeg export of 9.778m USD. The yearly change in value of Sri Lanka nutmeg between 2017 to 2018 was -4.577 percent.
The yearly change in the volume of Sri Lanka's nutmeg exports between 2017 and 2019 was 42.55 pc in comparison to a variation of 67.967% in the period between 2018 and 2019.
Export markets for Sri Lanka nutmeg ( in '000$ )
Sri Lanka's top export markets for nutmeg are India, United Arab Emirates (UAE), Pakistan, Germany and Egypt.
Sri Lanka brought in 21 tonnes of nutmeg in 2019.
Production
The production of nutmeg in Sri Lanka was 15,524 tonnes in 2019 and is projected to change by an average of 7.75%. The country had approximately 13,716.00 hectares under nutmeg cultivation.