Turkey - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCinnamon Price in Turkey - 2023
Contents:
- Cinnamon Price in Turkey (CIF) - 2023
- Cinnamon Price in Turkey (FOB) - 2022
- Cinnamon Imports in Turkey
- Cinnamon Exports in Turkey
Cinnamon Price in Turkey (CIF) - 2023
The average cinnamon import price stood at $3,084 per ton in July 2023, increasing by 47% against the previous month. Overall, the import price continues to indicate perceptible growth. The growth pace was the most rapid in February 2023 when the average import price increased by 110% m-o-m. The import price peaked at $3,420 per ton in November 2022; however, from December 2022 to July 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Sri Lanka ($12,617 per ton), while the price for China ($2,160 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Cinnamon Price in Turkey (FOB) - 2022
In 2022, the average cinnamon export price amounted to $7,518 per ton, picking up by 38% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 +140.0% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($25,590 per ton), while the average price for exports to Vietnam ($802 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 the Netherlands (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.
Cinnamon Imports in Turkey
In 2022, cinnamon imports into Turkey soared to 2.6K tons, increasing by 17% compared with the year before. The total import volume increased at an average annual rate of +7.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.
In value terms, cinnamon imports totaled $5.1M in 2022. The total import value increased at an average annual rate of +10.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 32% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Cinnamon in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 0.4 | 0.3 | 0.6 | 1.8 | 65.1% |
| Vietnam | 2.2 | 2.6 | 2.6 | 1.6 | -10.1% |
| China | 0.7 | 1.8 | 1.2 | 1.2 | 19.7% |
| Sri Lanka | 0.2 | 0.3 | 0.3 | 0.3 | 14.5% |
| Others | 0.2 | 0.1 | 0.4 | 0.1 | -20.6% |
| Total | 3.7 | 5.0 | 5.0 | 5.1 | 11.3% |
Top Suppliers of Cinnamon to Turkey in 2022:
- Indonesia (998.6 tons)
- China (790.6 tons)
- Vietnam (784.6 tons)
- Sri Lanka (19.8 tons)
Cinnamon Exports in Turkey
In 2022, after three years of growth, there was significant decline in overseas shipments of cinnamon (canella), when their volume decreased by -12% to 394 tons. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 125% against the previous year.
In value terms, cinnamon exports skyrocketed to $3M in 2022. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 112% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.
| Export of Cinnamon in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 154 | 287 | 831 | 1,614 | 118.8% |
| United Kingdom | 68.9 | 250 | 341 | 461 | 88.4% |
| Netherlands | 204 | 97.7 | 180 | 304 | 14.2% |
| Syrian Arab Republic | 21.7 | 81.5 | 262 | 95.4 | 63.8% |
| Germany | 27.2 | 71.8 | 84.1 | 94.9 | 51.7% |
| Cyprus | 56.8 | 68.7 | 50.2 | 48.4 | -5.2% |
| Australia | N/A | N/A | 0.3 | 40.6 | 13433.3% |
| Lebanon | 25.9 | 26.4 | 45.0 | 29.5 | 4.4% |
| Vietnam | N/A | N/A | N/A | 7.7 | 0% |
| Others | 175 | 669 | 646 | 265 | 14.8% |
| Total | 733 | 1,552 | 2,441 | 2,961 | 59.3% |
Top Export Markets for Cinnamon from Turkey in 2022:
- United States (233.6 tons)
- United Kingdom (44.3 tons)
- Syrian Arab Republic (22.1 tons)
- Germany (13.0 tons)
- Netherlands (11.9 tons)
- Cyprus (10.0 tons)
- Vietnam (9.6 tons)
- Australia (8.3 tons)
- Lebanon (4.3 tons)
This report provides an in-depth analysis of the cinnamon market in Turkey. 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:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- 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
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This report provides an in-depth analysis of the cinnamon market in Turkey.
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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 Turkey.
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This report provides an in-depth analysis of the global cinnamon market.
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In July 2023, the Cinnamon price reached a record high of $3,084 per ton (CIF, Turkey), marking a significant 47% increase compared to the previous month.
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
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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
9493
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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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.
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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
281
In July 2023, the Cinnamon price reached a record high of $3,084 per ton (CIF, Turkey), marking a significant 47% increase compared to the previous month.
1067
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
