Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka - 2022
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka (FOB) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka (CIF) - 2022
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka (FOB) - 2022
In 2022, the average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $8,500 per ton, growing by 8.4% against the previous year. Overall, the export price saw strong growth. The pace of growth appeared the most rapid in 2018 an increase of 33% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($12,220 per ton), while the average price for exports to Anguilla ($1,773 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $2,722 per ton, waning by -57% against the previous year. In general, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 491%. Over the period under review, average import prices hit record highs at $8,221 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($9,000 per ton), while the price for Poland ($833 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+96.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka
In 2022, overseas shipments of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -21.6% to 513 tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 38%. As a result, the exports reached the peak of 671 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground contracted dramatically to $4.4M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 61% against the previous year.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 446 | 825 | 1,159 | 1,330 | 43.9% |
| United States | 411 | 710 | 687 | 908 | 30.2% |
| Australia | 281 | 408 | 401 | 258 | -2.8% |
| Japan | 117 | 181 | 83.3 | 199 | 19.4% |
| India | 30.3 | 217 | 169 | 195 | 86.0% |
| United Kingdom | 293 | 586 | 318 | 171 | -16.4% |
| Netherlands | 35.3 | 247 | 318 | 155 | 63.8% |
| Canada | 161 | 299 | 204 | 123 | -8.6% |
| Greece | 161 | 90.0 | 64.9 | 97.4 | -15.4% |
| South Africa | 126 | 228 | 138 | 87.5 | -11.4% |
| Argentina | 42.5 | 152 | 104 | 46.7 | 3.2% |
| Anguilla | N/A | N/A | N/A | 38.1 | 0% |
| Vietnam | N/A | N/A | N/A | 21.8 | 0% |
| Others | 1,059 | 1,150 | 1,483 | 731 | -11.6% |
| Total | 3,163 | 5,093 | 5,130 | 4,360 | 11.3% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Sri Lanka in 2022:
- Germany (138.3 tons)
- United States (88.7 tons)
- Australia (56.8 tons)
- Netherlands (22.3 tons)
- Anguilla (21.5 tons)
- India (21.3 tons)
- United Kingdom (16.7 tons)
- Japan (16.3 tons)
- Greece (15.8 tons)
- Canada (13.0 tons)
- South Africa (10.7 tons)
- Argentina (10.0 tons)
- Vietnam (9.8 tons)
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka
In 2022, supplies from abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -28% to 90 kg, falling for the second year in a row after two years of growth. Overall, imports showed a significant contraction. The growth pace was the most rapid in 2020 with an increase of 7,297% against the previous year. As a result, imports reached the peak of 88 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground dropped dramatically to $245 in 2022. Over the period under review, imports faced a significant decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 863% against the previous year. As a result, imports reached the peak of $95K. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.4 | 88.2 | N/A | 0.1 | -37.0% |
| Spain | N/A | N/A | N/A | 0.1 | 0% |
| Russia | N/A | N/A | N/A | N/A | 0% |
| Indonesia | N/A | N/A | N/A | N/A | 0% |
| Poland | N/A | N/A | N/A | N/A | 0% |
| Canada | N/A | 0.2 | N/A | N/A | 0% |
| Others | 9.4 | 6.2 | 0.7 | N/A | -72.7% |
| Total | 9.8 | 94.7 | 0.8 | 0.2 | -72.7% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Sri Lanka in 2022:
- China (40.0 kg)
- Canada (21.0 kg)
- Indonesia (9.0 kg)
- Spain (8.0 kg)
- Poland (6.0 kg)
- Russia (2.0 kg)
3366
This report provides an in-depth analysis of the cinnamon market in Sri Lanka.
9339
This report provides an in-depth analysis of the global cinnamon market.
3366
This report provides an in-depth analysis of the cinnamon market in Sri Lanka.
9339
This report provides an in-depth analysis of the global cinnamon market.
1087
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2633
From 2007 to 2016, the global cinnamon market value fluctuated perceptibly. According to IndexBox estimates, a significant increase in 2008 (X% Y-o-Y) was followed by a slight drop in 2009 (X% Y-o-Y). Over the next two years, the market gradually in
9562
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
3874
In 2015, the countries with the highest levels of cinnamon production in 2015 were Indonesia (X thousand tons), China (X thousand tons), Vietnam (X thousand tons), together accounting for X% of total output.
4426
Cinnamon production reached X thousand tons in 2016, with a positive dynamic being recorded over the last few years, except for a slight decline in 2010.
2875
Cinnamon is one of the most common spices today. It can be used in cooking, when added to salads, soups, or beverages (cinnamon flavored tea is very popular nowadays), or pharmaceutical industry. Besides, it is one of the most repeatedly used additives
2253
Sri Lanka dominates in the global cinnamon trade. In 2014, Sri Lanka exported X thousand tons of сinnamon totaling X million USD, X% under the previous year. Its primary trading partner was Mexico, where it supplied X% of its total сinnamon expor
1087
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2633
From 2007 to 2016, the global cinnamon market value fluctuated perceptibly. According to IndexBox estimates, a significant increase in 2008 (X% Y-o-Y) was followed by a slight drop in 2009 (X% Y-o-Y). Over the next two years, the market gradually in
9562
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
