Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada (CIF) - 2023
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada (FOB) - 2023
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada (CIF) - 2023
In December 2023, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $6,103 per ton, falling by -16.4% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 17% against the previous month. As a result, import price attained the peak level of $8,211 per ton. From April 2023 to December 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($8,709 per ton), while the price for Indonesia ($5,267 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.5%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada (FOB) - 2023
In December 2023, the average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $7,324 per ton, jumping by 42% against the previous month. Over the period under review, export price indicated a moderate expansion from December 2022 to December 2023: its price increased at an average monthly rate of +2.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground increased by +41.7% against November 2023 indices. The most prominent rate of growth was recorded in August 2023 when the average export price increased by 67% against the previous month. As a result, the export price attained the peak level of $9,129 per ton. From September 2023 to December 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($7,559 per ton), while the average price for exports to Colombia totaled $2,473 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.5%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada
In 2022, approx. 2.6K tons of spices; cinnamon and cinnamon-tree flowers, crushed or ground were imported into Canada; increasing by 13% on the year before. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +15.1% 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 increased by +52.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 20%. Imports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground skyrocketed to $17M in 2022. Overall, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.3% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 3.3 | 5.0 | 5.2 | 7.8 | 33.2% |
| Indonesia | 1.9 | 3.3 | 4.7 | 5.6 | 43.4% |
| United States | 3.3 | 2.6 | 2.2 | 1.5 | -23.1% |
| India | 0.6 | 0.4 | 1.1 | 1.4 | 32.6% |
| China | 0.1 | 0.1 | 0.1 | 0.3 | 44.2% |
| Others | 0.4 | 0.5 | 0.5 | 0.4 | 0.0% |
| Total | 9.5 | 11.9 | 13.8 | 17.0 | 21.4% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Canada in 2022:
- Vietnam (1381.2 tons)
- Indonesia (725.0 tons)
- India (232.7 tons)
- United States (178.3 tons)
- China (66.0 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada
In 2022, the amount of spices; cinnamon and cinnamon-tree flowers, crushed or ground exported from Canada soared to 235 tons, rising by 27% compared with the year before. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 111% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground soared to $1.3M in 2022. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 171%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 168 | 507 | 864 | 1,270 | 96.3% |
| Colombia | 2.8 | N/A | N/A | 13.8 | 70.2% |
| Sri Lanka | N/A | N/A | N/A | 10.8 | 0% |
| Others | 18.9 | 5.6 | 3.6 | 8.5 | -23.4% |
| Total | 190 | 513 | 867 | 1,303 | 90.0% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Canada in 2022:
- United States (222.2 tons)
- Colombia (5.3 tons)
- Sri Lanka (4.1 tons)
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This report provides an in-depth analysis of the cinnamon market in Canada.
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This report provides an in-depth analysis of the cinnamon market in Canada.
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This report provides an in-depth analysis of the global cinnamon market.
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