Report Update: May 1, 2024

Peru - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights

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Cinnamon Price in Peru - 2021

Cinnamon Price in Peru (CIF) - 2021

In April 2020, the average cinnamon import price amounted to $8,436 per ton, approximately equating the previous month. In general, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in February 2020 when the average import price increased by 5% against the previous month. As a result, import price attained the peak level of $9,545 per ton. From March 2020 to April 2020, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($11,956 per ton), while the price for China ($1,461 per ton) was amongst the lowest.

From January 2020 to April 2020, the most notable rate of growth in terms of prices was attained by the United States (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Cinnamon Price in Peru (FOB) - 2022

In 2022, the average cinnamon export price amounted to $9,199 per ton, leveling off at the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 32% against the previous year. As a result, the export price attained the peak level of $11,919 per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($13,323 per ton), while the average price for exports to Chile ($3,405 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 Chile (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Cinnamon Imports in Peru

In 2022, approx. 2K tons of cinnamon (canella) were imported into Peru; jumping by 28% against 2021 figures. In general, total imports indicated noticeable growth from 2019 to 2022: its volume increased at an average annual rate of +3.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, imports reached the peak of 2.4K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cinnamon imports surged to $22M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +11.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.8% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 68%. As a result, imports attained the peak of $27M. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Cinnamon in Peru (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Sri Lanka	15.3	26.1	16.7	21.3	11.7%
China	0.1	0.1	0.1	0.1	0.0%
Others	0.7	0.9	0.7	0.9	8.7%
Total	16.1	27.1	17.5	22.3	11.5%

Top Suppliers of Cinnamon to Peru in 2022:

Sri Lanka (1860.9 tons)
China (57.7 tons)

Cinnamon Exports in Peru

For the fourth consecutive year, Peru recorded growth in overseas shipments of cinnamon (canella), which increased by 0.1% to 18 tons in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +21.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.2% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 60% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, cinnamon exports totaled $161K in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +14.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 50% against the previous year. As a result, the exports reached the peak of $161K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Cinnamon in Peru (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	61.8	120	79.5	89.4	13.1%
United States	7.4	29.9	36.5	38.0	72.5%
Italy	34.1	7.7	21.2	22.1	-13.5%
Chile	0.5	0.9	6.3	6.6	136.3%
Netherlands	0.1	0.9	2.0	2.1	175.9%
Others	3.8	2.1	15.0	2.8	-9.7%
Total	108	161	161	161	14.2%

Top Export Markets for Cinnamon from Peru in 2022:

Spain (6.7 tons)
Italy (4.3 tons)
United States (3.7 tons)
Chile (1.9 tons)
Netherlands (0.5 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cinnamon market in Peru. 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:

Peru

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Peru
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023