Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand - 2024
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $6,151 per ton, with a decrease of -26.6% against the previous year. Over the period under review, the import price, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of 83% against the previous year. As a result, import price attained the peak level of $8,381 per ton, and then declined sharply in the following year.
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 the United States ($15,915 per ton), while the price for Indonesia ($2,868 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+15.5%), 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 Thailand (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $15,210 per ton in 2022, picking up by 111% against the previous year. Overall, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 118%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($35,593 per ton), while the average price for exports to Japan ($9,080 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 Hong Kong SAR (+22.5%), 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 Thailand
In 2022, overseas purchases of spices; cinnamon and cinnamon-tree flowers, crushed or ground increased by 23% to 27 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a significant contraction.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground shrank to $169K in 2022. Overall, imports, however, faced a sharp curtailment.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 73.6 | 58.8 | 70.3 | 71.2 | -1.1% |
| Indonesia | 272 | 150 | 60.0 | 47.0 | -44.3% |
| Vietnam | 11.2 | 37.8 | 23.6 | 33.7 | 44.4% |
| Malaysia | 2.3 | 2.8 | 2.7 | 4.6 | 26.0% |
| Sri Lanka | N/A | 0.4 | 0.9 | 1.8 | 112.1% |
| Others | 12.8 | 16.8 | 28.7 | 10.4 | -6.7% |
| Total | 372 | 267 | 186 | 169 | -23.1% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Thailand in 2022:
- Indonesia (16.4 tons)
- Vietnam (4.8 tons)
- United States (4.5 tons)
- Sri Lanka (0.6 tons)
- Malaysia (0.5 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand
After three years of growth, overseas shipments of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -63.2% to 900 kg in 2022. Over the period under review, exports, however, recorded a slight increase. The pace of growth appeared the most rapid in 2021 with an increase of 138% against the previous year. As a result, the exports attained the peak of 2.4 tons, and then fell rapidly in the following year.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground reduced markedly to $14K in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.3% 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 +57.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. As a result, the exports reached the peak of $18K, and then declined significantly in the following year.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.9 | 8.3 | 3.2 | 4.3 | -14.6% |
| Japan | 1.1 | N/A | 10.6 | 3.8 | 51.2% |
| Hong Kong SAR | 0.5 | 1.9 | 1.7 | 3.1 | 83.7% |
| Papua New Guinea | N/A | N/A | N/A | 2.5 | 0% |
| Myanmar | N/A | 1.8 | 1.3 | N/A | -27.8% |
| Others | 0.2 | N/A | 0.8 | 0.1 | -20.6% |
| Total | 8.7 | 12.0 | 17.6 | 13.7 | 16.3% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Thailand in 2022:
- Japan (414.0 kg)
- United States (290.0 kg)
- Papua New Guinea (104.0 kg)
- Hong Kong SAR (86.0 kg)
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This report provides an in-depth analysis of the cinnamon market in Thailand.
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This report provides an in-depth analysis of the global cinnamon market.
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This report provides an in-depth analysis of the cinnamon market in Thailand.
9359
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...
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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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Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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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.
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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.
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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
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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
1093
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2638
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
9586
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
