Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey - 2024
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $2,190 per ton, reducing by -44.1% against the previous year. In general, the import price, however, saw strong growth. The pace of growth was the most pronounced in 2015 an increase of 232% against the previous year. The import price peaked at $3,917 per ton in 2021, and then reduced notably 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 Germany ($6,105 per ton), while the price for Iran ($1,157 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+57.2%), 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 Turkey (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $5,959 per ton in 2022, increasing by 2.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 41% against the previous year. The export price peaked at $7,275 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($10,672 per ton), while the average price for exports to Vietnam ($762 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 Lebanon (+14.5%), 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 Turkey
In 2022, overseas purchases of spices; cinnamon and cinnamon-tree flowers, crushed or ground increased by 163% to 287 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a pronounced curtailment.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground skyrocketed to $628K in 2022. In general, imports enjoyed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 291 | 228 | 61.1 | 349 | 6.2% |
| Indonesia | 57.9 | 17.9 | 159 | 154 | 38.6% |
| Germany | 26.4 | 17.8 | 82.7 | 67.5 | 36.7% |
| Sri Lanka | N/A | 55.4 | 54.9 | 13.3 | -51.0% |
| Others | 6.8 | 6.2 | 69.3 | 43.6 | 85.8% |
| Total | 383 | 325 | 427 | 628 | 17.9% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Turkey in 2022:
- Vietnam (244.7 tons)
- Indonesia (25.6 tons)
- Germany (11.0 tons)
- Sri Lanka (1.0 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey
Exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground from Turkey skyrocketed to 95 tons in 2022, jumping by 29% compared with the year before. Over the period under review, exports showed a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 113% against the previous year. As a result, the exports reached the peak of 127 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground skyrocketed to $565K in 2022. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 199%. As a result, the exports attained the peak of $601K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 7.9 | 8.0 | 89.9 | 189 | 188.1% |
| United States | 10.4 | 126 | 21.1 | 69.1 | 88.0% |
| Germany | 20.8 | 41.0 | 45.6 | 41.4 | 25.8% |
| Australia | N/A | N/A | 0.3 | 40.6 | 13433.3% |
| Cyprus | 23.6 | 24.7 | 28.4 | 27.5 | 5.2% |
| Azerbaijan | 13.3 | 17.3 | 38.7 | 22.1 | 18.4% |
| Canada | 0.2 | 151 | 9.0 | 20.7 | 369.5% |
| Switzerland | 0.5 | 7.8 | 24.7 | 17.6 | 227.7% |
| Saudi Arabia | N/A | 2.3 | N/A | 13.2 | 139.6% |
| France | 8.2 | 13.7 | 22.6 | 13.0 | 16.6% |
| United Arab Emirates | 9.2 | 17.2 | 7.4 | 12.1 | 9.6% |
| Vietnam | N/A | N/A | N/A | 7.2 | 0% |
| Lebanon | 25.6 | 26.5 | 18.6 | N/A | -14.8% |
| Others | 81.2 | 166 | 121 | 91.9 | 4.2% |
| Total | 201 | 601 | 428 | 565 | 41.1% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Turkey in 2022:
- United Kingdom (25.9 tons)
- United States (15.1 tons)
- Vietnam (9.5 tons)
- Australia (8.3 tons)
- Germany (5.5 tons)
- Cyprus (5.1 tons)
- Canada (3.4 tons)
- Azerbaijan (2.2 tons)
- Saudi Arabia (1.8 tons)
- United Arab Emirates (1.8 tons)
- Switzerland (1.6 tons)
- France (1.5 tons)
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This report provides an in-depth analysis of the cinnamon market in Turkey.
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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 Turkey.
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This report provides an in-depth analysis of the global cinnamon market.
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In July 2023, the Cinnamon price reached a record high of $3,084 per ton (CIF, Turkey), marking a significant 47% increase compared to the previous month.
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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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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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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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In July 2023, the Cinnamon price reached a record high of $3,084 per ton (CIF, Turkey), marking a significant 47% increase compared to the previous month.
1105
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
