Panama - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCinnamon Price in Panama - 2023
Contents:
- Cinnamon Price in Panama (CIF) - 2023
- Cinnamon Price in Panama (FOB) - 2022
- Cinnamon Imports in Panama
- Cinnamon Exports in Panama
Cinnamon Price in Panama (CIF) - 2023
In September 2023, the average cinnamon import price amounted to $6,549 per ton, which is down by -9.7% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.9%. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 45% m-o-m. The import price peaked at $7,399 per ton in April 2023; however, from May 2023 to September 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($8,815 per ton), while the price for China ($4,939 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Cinnamon Price in Panama (FOB) - 2022
In 2022, the average cinnamon export price amounted to $5,700 per ton, approximately reflecting the previous year. In general, the export price showed a slight expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 100%. As a result, the export price attained the peak level of $9,653 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($18,200 per ton), while the average price for exports to Jamaica stood at $5,540 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+8.5%), while the prices for the other major destinations experienced mixed trend patterns.
Cinnamon Imports in Panama
In 2022, after three years of growth, there was significant decline in supplies from abroad of cinnamon (canella), when their volume decreased by -40.7% to 240 tons. Overall, imports, however, showed a pronounced increase. The pace of growth appeared the most rapid in 2021 when imports increased by 72% against the previous year. As a result, imports reached the peak of 405 tons, and then declined remarkably in the following year.
In value terms, cinnamon imports fell notably to $1.5M in 2022. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. As a result, imports attained the peak of $2.6M, and then dropped rapidly in the following year.
Import of Cinnamon in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Vietnam | 448 | 762 | 1,015 | 624 | 11.7% |
United States | 244 | 252 | 303 | 341 | 11.8% |
Sri Lanka | 152 | 162 | 187 | 261 | 19.7% |
Indonesia | 237 | 120 | 207 | 103 | -24.3% |
China | 1.6 | 9.2 | 42.4 | 51.2 | 217.5% |
Spain | 19.0 | 21.2 | 54.3 | 44.0 | 32.3% |
Costa Rica | 51.3 | 59.5 | 38.6 | 20.2 | -26.7% |
Others | 100 | 71.9 | 772 | 11.0 | -52.1% |
Total | 1,253 | 1,458 | 2,619 | 1,454 | 5.1% |
Top Suppliers of Cinnamon to Panama in 2022:
- Vietnam (106.7 tons)
- United States (45.6 tons)
- Sri Lanka (44.5 tons)
- Indonesia (14.7 tons)
- China (10.5 tons)
- Costa Rica (8.0 tons)
- Spain (6.6 tons)
Cinnamon Exports in Panama
In 2022, shipments abroad of cinnamon (canella) decreased by 0% to 373 kg, falling for the second year in a row after two years of growth. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 2.9%. As a result, the exports attained the peak of 743 kg. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, cinnamon exports stood at $2.1K in 2022. Over the period under review, exports showed a precipitous slump. The smallest decline of -23.4% was in 2020.
Export of Cinnamon in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Jamaica | 1.9 | 3.4 | N/A | 2.0 | 1.7% |
Costa Rica | 0.9 | 0.8 | N/A | 0.1 | -51.9% |
Venezuela | 0.3 | N/A | N/A | N/A | 0% |
Cuba | 2.5 | N/A | N/A | N/A | 0% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 5.6 | 4.3 | N/A | 2.1 | -27.9% |
Top Export Markets for Cinnamon from Panama in 2022:
- Jamaica (367.0 kg)
- Costa Rica (5.0 kg)
This report provides an in-depth analysis of the cinnamon market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 693 - Cinnamon (canella)
Country coverage:
- Panama
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Panama
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the cinnamon market in Panama.
This report provides an in-depth analysis of the global cinnamon market.
This report provides an in-depth analysis of the cinnamon market in Panama.
This report provides an in-depth analysis of the global cinnamon market.
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
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
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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.
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.
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
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
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
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
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.