Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $11,205 per ton, picking up by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 30%. As a result, import price attained the peak level of $11,370 per ton. From 2018 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($15,991 per ton), while the price for the Netherlands ($5,613 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+26.9%), 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 Ireland (FOB) - 2022
In 2022, the average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $12,705 per ton, jumping by 21% against the previous year. Overall, the export price, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2020 when the average export price increased by 83% against the previous year. Over the period under review, the average export prices hit record highs at $17,660 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the UK.
From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +8.5% per year.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland
In 2022, supplies from abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -12.1% to 62 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +12.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. As a result, imports reached the peak of 71 tons, and then reduced in the following year.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $696K in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +16.0% 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 +61.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 60%. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 167 | N/A | 340 | 352 | 28.2% |
| United Kingdom | 42.2 | 225 | 135 | 167 | 58.2% |
| Vietnam | 55.8 | 7.7 | 22.9 | 90.2 | 17.4% |
| China | 0.2 | 0.2 | 31.2 | 20.0 | 364.2% |
| Netherlands | 9.4 | 59.7 | 11.5 | 15.8 | 18.9% |
| France | 2.8 | 0.7 | 8.8 | 11.2 | 58.7% |
| Germany | 61.3 | 108 | 52.0 | 7.9 | -49.5% |
| Spain | 27.3 | 3.3 | 3.6 | 3.7 | -48.6% |
| Sri Lanka | 64.8 | 8.4 | 17.4 | 1.6 | -70.9% |
| Others | 14.8 | 17.4 | 65.1 | 26.9 | 22.0% |
| Total | 445 | 430 | 687 | 696 | 16.1% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Ireland in 2022:
- Indonesia (27.7 tons)
- United Kingdom (18.0 tons)
- Vietnam (5.6 tons)
- Netherlands (2.8 tons)
- China (2.8 tons)
- France (1.3 tons)
- Germany (0.8 tons)
- Spain (0.7 tons)
- Sri Lanka (0.2 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland
Exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground from Ireland surged to 2.7 tons in 2022, jumping by 71% on 2021 figures. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 299%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground skyrocketed to $35K in 2022. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 401%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Ireland (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | N/A | 1.0 | 16.5 | 34.5 | 487.4% |
| Germany | N/A | 2.3 | N/A | N/A | 0% |
| Netherlands | 8.6 | N/A | N/A | N/A | 0% |
| Others | 0.4 | 0.1 | 0.2 | 0.1 | -37.0% |
| Total | 9.0 | 3.3 | 16.7 | 34.6 | 56.7% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Ireland in 2022:
- United Kingdom (2.7 tons)
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This report provides an in-depth analysis of the cinnamon market in Ireland.
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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
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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
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