Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia - 2022
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $4,464 per ton, shrinking by -5.1% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground increased by +20.5% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 30% against the previous year. Over the period under review, average import prices reached the maximum at $5,840 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
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 China ($14,687 per ton), while the price for Vietnam ($1,553 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $6,008 per ton in 2022, declining by -41.1% against the previous year. Over the period under review, the export price showed a mild descent. The growth pace was the most rapid in 2016 when the average export price increased by 72% against the previous year. The export price peaked at $10,459 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
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 Aruba ($20,130 per ton), while the average price for exports to Ecuador stood at $5,291 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+26.0%).
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia
After three years of growth, purchases abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -6.9% to 172 tons in 2022. Overall, imports, however, saw significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 418% against the previous year. As a result, imports reached the peak of 185 tons, and then dropped in the following year.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground contracted to $768K in 2022. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 473%. As a result, imports reached the peak of $869K, and then dropped in the following year.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 47.4 | 55.5 | 441 | 265 | 77.5% |
| China | 0.6 | 1.0 | 3.4 | 164 | 549.0% |
| Vietnam | 40.0 | 48.8 | 104 | 148 | 54.7% |
| Sri Lanka | 2.6 | 19.2 | 102 | 55.7 | 177.7% |
| India | 5.5 | 1.6 | 35.4 | 50.0 | 108.7% |
| Madagascar | 5.4 | 5.1 | 41.1 | 26.3 | 69.5% |
| Netherlands | N/A | N/A | 10.2 | 18.5 | 81.4% |
| Others | 13.9 | 20.5 | 133 | 40.8 | 43.2% |
| Total | 116 | 152 | 869 | 768 | 87.8% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Colombia in 2022:
- Vietnam (95.2 tons)
- United States (23.1 tons)
- India (14.5 tons)
- Sri Lanka (13.0 tons)
- China (11.2 tons)
- Madagascar (5.0 tons)
- Netherlands (3.2 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia
After two years of decline, overseas shipments of spices; cinnamon and cinnamon-tree flowers, crushed or ground increased by 2,270% to 474 kg in 2022. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground soared to $2.8K in 2022. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Colombia (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ecuador | N/A | N/A | N/A | 2,381 | 0% |
| Aruba | 5.0 | 2.0 | 9.0 | 463 | 352.4% |
| Spain | 102 | 17.0 | 27.0 | N/A | -48.6% |
| Indonesia | N/A | 181 | N/A | N/A | 0% |
| Panama | N/A | N/A | 135 | N/A | 0% |
| Others | 111 | 7.0 | 33.0 | 4.0 | -67.0% |
| Total | 218 | 207 | 204 | 2,848 | 135.5% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Colombia in 2022:
- Ecuador (450.0 kg)
- Aruba (23.0 kg)
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This report provides an in-depth analysis of the cinnamon market in Colombia.
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This report provides an in-depth analysis of the cinnamon market in Colombia.
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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...
2637
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
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Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
