Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam - 2022
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam (FOB) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam (CIF) - 2022
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $6,350 per ton in 2022, with an increase of 12% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -20.1% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices reached the maximum at $7,948 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were India ($6,350 per ton) and the United States ($6,350 per ton), while the average price for exports to Canada ($6,349 per ton) and Australia ($6,349 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+5.0%), 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 Vietnam (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $5,638 per ton, picking up by 5.9% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground increased by +103.5% against 2012 indices. The growth pace was the most rapid in 2021 an increase of 18% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($5,646 per ton) and Australia ($5,640 per ton), while the price for India ($5,631 per ton) and the UK ($5,633 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+9.8%), 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 Vietnam
After three years of growth, shipments abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -16.2% to 9K tons in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 97%.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground dropped to $57M in 2022. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 61% against the previous year.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 14.7 | 25.3 | 35.5 | 29.9 | 26.7% |
| Netherlands | 2.2 | 2.5 | 4.5 | 5.0 | 31.5% |
| Germany | 1.3 | 1.8 | 3.0 | 3.2 | 35.0% |
| Canada | 0.8 | 1.7 | 2.6 | 2.8 | 51.8% |
| Indonesia | N/A | 0.7 | 1.4 | 1.8 | 60.4% |
| United Kingdom | 0.9 | 1.5 | 1.9 | 1.8 | 26.0% |
| Brazil | 0.5 | 0.5 | 0.7 | 1.2 | 33.9% |
| India | 0.4 | 0.6 | 0.4 | 1.2 | 44.2% |
| Australia | 0.8 | 1.2 | 1.1 | 1.0 | 7.7% |
| Others | 6.0 | 8.6 | 9.9 | 9.5 | 16.6% |
| Total | 27.5 | 44.2 | 61.0 | 57.3 | 27.7% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Vietnam in 2022:
- United States (4710.8 tons)
- Netherlands (783.1 tons)
- Germany (506.0 tons)
- Canada (439.5 tons)
- United Kingdom (286.3 tons)
- Indonesia (276.3 tons)
- Brazil (191.1 tons)
- India (186.5 tons)
- Australia (155.0 tons)
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam
In 2022, purchases abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground was finally on the rise to reach 4 tons after two years of decline. Overall, imports, however, saw a dramatic shrinkage.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground surged to $22K in 2022. Over the period under review, imports, however, saw a precipitous setback.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 8.5 | 15.2 | 8.0 | 12.9 | 14.9% |
| Germany | 2.3 | 2.5 | 1.9 | 2.6 | 4.2% |
| Thailand | N/A | N/A | N/A | 1.4 | 0% |
| Belgium | N/A | N/A | 1.2 | 1.3 | 8.3% |
| United States | N/A | N/A | N/A | 1.2 | 0% |
| United Kingdom | N/A | N/A | N/A | 1.2 | 0% |
| India | N/A | N/A | N/A | 0.9 | 0% |
| Australia | 16.9 | 11.1 | 0.6 | 0.8 | -63.8% |
| China | 64.5 | N/A | N/A | N/A | 0% |
| Japan | 3.3 | 1.9 | 3.8 | N/A | 7.3% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 95.5 | 30.6 | 15.5 | 22.3 | -38.4% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Vietnam in 2022:
- Indonesia (2284.0 kg)
- Germany (458.0 kg)
- Thailand (254.0 kg)
- Belgium (238.0 kg)
- United Kingdom (221.0 kg)
- United States (206.0 kg)
- India (157.0 kg)
- Australia (139.0 kg)
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This report provides an in-depth analysis of the cinnamon market in Vietnam.
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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 Vietnam.
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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...
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
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Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
