Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia - 2024
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia (FOB) - 2024
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia (CIF) - 2022
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia (FOB) - 2024
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $9,828 per ton in January 2024, with a decrease of -2.2% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 156% m-o-m. Over the period under review, the average export prices reached the peak figure at $13,262 per ton in July 2023; however, from August 2023 to January 2024, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($9,903 per ton), while the average price for exports to Singapore ($6,033 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia (CIF) - 2022
The average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $2,671 per ton in 2022, stabilizing at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 39%. Over the period under review, average import prices hit record highs at $2,843 per ton in 2012; however, from 2013 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 Sri Lanka ($8,401 per ton), while the price for China ($1,560 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia
In 2022, approx. 117 tons of spices; cinnamon and cinnamon-tree flowers, crushed or ground were exported from Malaysia; declining by -19.6% on the previous year. Overall, total exports indicated a mild increase from 2019 to 2022: its volume increased at an average annual rate of +1.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 69% against the previous year. As a result, the exports reached the peak of 145 tons, and then fell markedly in the following year.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground fell remarkably to $1M in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +8.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +37.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 62%. As a result, the exports attained the peak of $1.2M, and then plummeted in the following year.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 696 | 696 | 1,055 | 941 | 10.6% |
| South Korea | 28.9 | 3.6 | 39.1 | 45.2 | 16.1% |
| New Zealand | 25.9 | 22.0 | 8.5 | 14.7 | -17.2% |
| Thailand | 17.5 | N/A | 10.6 | 5.9 | -30.4% |
| South Africa | 20.3 | N/A | 10.9 | N/A | -26.7% |
| Others | 8.2 | 23.5 | 83.1 | 18.1 | 30.2% |
| Total | 797 | 745 | 1,207 | 1,025 | 8.7% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Malaysia in 2022:
- Japan (106.7 tons)
- South Korea (3.1 tons)
- Thailand (3.0 tons)
- New Zealand (2.0 tons)
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia
In 2022, overseas purchases of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -22.7% to 213 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +9.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 59% against the previous year.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground shrank remarkably to $569K in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +13.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 73% against the previous year.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 69.8 | 315 | 542 | 310 | 64.4% |
| Indonesia | 214 | 201 | 5.0 | 180 | -5.6% |
| Australia | 46.3 | 71.5 | 94.8 | 37.0 | -7.2% |
| China | 17.9 | 26.8 | 33.0 | 8.0 | -23.5% |
| Others | 43.2 | 62.2 | 66.4 | 34.5 | -7.2% |
| Total | 391 | 677 | 741 | 569 | 13.3% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Malaysia in 2022:
- Vietnam (140.2 tons)
- Indonesia (53.0 tons)
- Australia (10.2 tons)
- China (5.2 tons)
831
This report provides an in-depth analysis of the cinnamon market in Malaysia.
9350
This report provides an in-depth analysis of the global cinnamon market.
831
This report provides an in-depth analysis of the cinnamon market in Malaysia.
9350
This report provides an in-depth analysis of the global cinnamon market.
1091
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
9581
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
3878
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.
4429
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.
2879
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
2258
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
1091
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
9581
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
