Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia (CIF) - 2022
The average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $4,874 per ton in 2022, increasing by 14% against the previous year. Overall, the import price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 an increase of 31% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.
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 ($8,321 per ton), while the price for Vietnam ($2,600 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+14.5%), 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 Serbia (FOB) - 2022
In 2022, the average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $9,559 per ton, picking up by 29% against the previous year. In general, the export price saw strong growth. The pace of growth appeared the most rapid in 2015 when the average export price increased by 33%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.
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 Montenegro ($11,963 per ton), while the average price for exports to North Macedonia ($5,919 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 Croatia (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia
In 2022, supplies from abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -21.3% to 71 tons, falling for the second consecutive year after two years of growth. Overall, total imports indicated perceptible growth from 2019 to 2022: its volume increased at an average annual rate of +4.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -26.8% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 57% against the previous year. As a result, imports attained the peak of 96 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground contracted to $344K in 2022. Over the period under review, total imports indicated a resilient 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 decreased by -14.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 81%. As a result, imports reached the peak of $400K. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 96.8 | 157 | 151 | 160 | 18.2% |
| Sri Lanka | 22.5 | 49.1 | 56.0 | 84.7 | 55.6% |
| Vietnam | 86.7 | 122 | 164 | 72.8 | -5.7% |
| Spain | 0.1 | 33.2 | 0.6 | 14.3 | 422.9% |
| Others | 14.3 | 39.0 | 14.3 | 11.9 | -5.9% |
| Total | 220 | 400 | 385 | 344 | 16.1% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Serbia in 2022:
- Indonesia (28.9 tons)
- Vietnam (28.0 tons)
- Sri Lanka (10.2 tons)
- Spain (2.4 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground, when their volume decreased by -32.4% to 12 tons. Overall, exports showed a deep reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 9.5%.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground fell to $118K in 2022. The total export value increased at an average annual rate of +3.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 30%. As a result, the exports reached the peak of $138K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Montenegro | 41.6 | 42.7 | 47.0 | 62.0 | 14.2% |
| Bosnia and Herzegovina | 47.1 | 77.3 | 80.3 | 49.2 | 1.5% |
| Croatia | 5.2 | 3.8 | 2.8 | 4.7 | -3.3% |
| North Macedonia | 4.6 | 0.9 | 1.1 | 1.8 | -26.9% |
| Germany | 5.8 | N/A | N/A | N/A | 0% |
| Slovenia | 0.8 | 1.0 | 1.1 | N/A | 17.3% |
| Others | 0.9 | 12.5 | 2.9 | 0.2 | -39.4% |
| Total | 106 | 138 | 135 | 118 | 3.6% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Serbia in 2022:
- Bosnia and Herzegovina (6.3 tons)
- Montenegro (5.2 tons)
- Croatia (0.5 tons)
- North Macedonia (0.3 tons)
140
This report provides an in-depth analysis of the cinnamon market in Serbia.
9341
This report provides an in-depth analysis of the global cinnamon market.
140
This report provides an in-depth analysis of the cinnamon market in Serbia.
9341
This report provides an in-depth analysis of the global cinnamon market.
1089
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2636
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
9570
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
3877
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.
4428
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.
2877
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
2257
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
1089
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2636
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
9570
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
