Sri Lanka - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCinnamon Price in Sri Lanka - 2021
Contents:
- Cinnamon Price in Sri Lanka (FOB) - 2022
- Cinnamon Price in Sri Lanka (CIF) - 2022
- Cinnamon Exports in Sri Lanka
- Cinnamon Imports in Sri Lanka
Cinnamon Price in Sri Lanka (FOB) - 2022
The average cinnamon export price stood at $12,678 per ton in 2022, falling by -3.6% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cinnamon export price increased by +120.4% against 2018 indices. The growth pace was the most rapid in 2019 an increase of 78%. The export price peaked at $13,150 per ton in 2021, and then fell in the following year.
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 Spain ($14,578 per ton), while the average price for exports to India ($7,506 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 Germany (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.
Cinnamon Price in Sri Lanka (CIF) - 2022
In 2022, the average cinnamon import price amounted to $9,323 per ton, waning by -30.5% against the previous year. Overall, the import price, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 64% against the previous year. Over the period under review, average import prices reached the maximum at $13,776 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
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 Indonesia ($18,000 per ton), while the price for Madagascar ($3,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Cinnamon Exports in Sri Lanka
In 2022, overseas shipments of cinnamon (canella) decreased by -2.6% to 18K tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 14%. As a result, the exports reached the peak of 20K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, cinnamon exports shrank to $232M in 2022. The total export value increased at an average annual rate of +9.7% from 2019 to 2022; 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 23% against the previous year.
| Export of Cinnamon in Sri Lanka (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 69.1 | 77.1 | 112 | 92.4 | 10.2% |
| United States | 24.6 | 31.1 | 37.2 | 41.5 | 19.0% |
| Peru | 13.7 | 30.3 | 19.3 | 28.4 | 27.5% |
| Ecuador | 6.7 | 10.7 | 9.1 | 10.5 | 16.2% |
| Colombia | 6.9 | 12.4 | 13.7 | 9.5 | 11.2% |
| Guatemala | 10.5 | 6.6 | 5.5 | 7.4 | -11.0% |
| India | 5.6 | 6.2 | 6.8 | 6.4 | 4.6% |
| Bolivia | 8.7 | 6.5 | 8.7 | 5.8 | -12.6% |
| Chile | 3.9 | 5.4 | 5.3 | 4.8 | 7.2% |
| Germany | 3.7 | 3.1 | 3.5 | 3.2 | -4.7% |
| Spain | 5.4 | 4.4 | 5.0 | 3.2 | -16.0% |
| Others | 17.2 | 22.6 | 20.9 | 19.3 | 3.9% |
| Total | 176 | 216 | 247 | 232 | 9.6% |
Top Export Markets for Cinnamon from Sri Lanka in 2022:
- Mexico (6.8K tons)
- United States (3.1K tons)
- Peru (2.2K tons)
- India (0.9K tons)
- Ecuador (0.9K tons)
- Colombia (0.8K tons)
- Guatemala (0.6K tons)
- Bolivia (0.5K tons)
- Chile (0.4K tons)
- Germany (0.3K tons)
- Spain (0.2K tons)
Cinnamon Imports in Sri Lanka
For the third consecutive year, Sri Lanka recorded decline in supplies from abroad of cinnamon (canella), which decreased by -73.1% to 18 tons in 2022. Over the period under review, imports showed a sharp slump. The smallest decline of -19.1% was in 2021.
In value terms, cinnamon imports fell markedly to $170K in 2022. Overall, imports showed a dramatic slump. The smallest decline of -20.5% was in 2020.
| Import of Cinnamon in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Colombia | N/A | N/A | 237 | 141 | -40.5% |
| Turkey | N/A | N/A | 26.1 | 26.6 | 1.9% |
| India | 20.2 | 13.9 | 46.6 | 1.3 | -59.9% |
| Spain | 148 | 219 | 136 | 0.1 | -91.2% |
| Germany | 122 | 47.4 | 40.2 | N/A | -42.6% |
| United Kingdom | 147 | 89.4 | 113 | N/A | -12.3% |
| Italy | 177 | N/A | 63.4 | N/A | -40.2% |
| United States | 214 | 515 | N/A | N/A | 140.7% |
| Others | 619 | 266 | 245 | 0.3 | -92.1% |
| Total | 1,448 | 1,151 | 907 | 170 | -51.0% |
Top Suppliers of Cinnamon to Sri Lanka in 2022:
- United States (undefined tons)
- Germany (undefined tons)
- Spain (undefined tons)
- Colombia (15.9 tons)
- Turkey (1.9 tons)
- India (0.3 tons)
This report provides an in-depth analysis of the cinnamon market in Sri Lanka. 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:
- Sri Lanka
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Sri Lanka
- 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
-
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
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This report provides an in-depth analysis of the cinnamon market in Sri Lanka.
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This report provides an in-depth analysis of the global cinnamon market.
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This report provides an in-depth analysis of the cinnamon market in Sri Lanka.
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This report provides an in-depth analysis of the global cinnamon market.
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2607
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
9498
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
3838
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.
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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.
2852
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
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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
1067
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2607
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
9498
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
