Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States - 2023
Contents:
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States (CIF) - 2023
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States (FOB) - 2022
- Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States
- Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States (CIF) - 2023
In December 2023, the average import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground amounted to $6,524 per ton, reducing by -15.9% against the previous month. Over the period under review, the import price saw a pronounced decline. The most prominent rate of growth was recorded in November 2023 an increase of 37% month-to-month. Over the period under review, average import prices attained the maximum at $9,105 per ton in December 2022; however, from January 2023 to December 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Sri Lanka ($10,516 per ton), while the price for Indonesia ($4,262 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (-0.9%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States (FOB) - 2022
In 2022, the average export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground amounted to $10,905 per ton, increasing by 31% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.6% 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 (cinnamomum zeylanicum blume), neither crushed nor ground increased by +82.0% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($21,526 per ton), while the average price for exports to Hong Kong SAR ($4,356 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 Panama (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States
In 2022, imports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground into the United States amounted to 9.4K tons, picking up by 13% on the year before. The total import volume increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground soared to $72M in 2022. The total import value increased at an average annual rate of +13.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | 21.6 | 25.8 | 27.0 | 36.5 | 19.1% |
| Indonesia | 18.7 | 18.8 | 21.2 | 17.1 | -2.9% |
| Vietnam | 6.8 | 8.3 | 9.6 | 14.7 | 29.3% |
| India | 1.1 | 1.1 | 1.4 | 1.9 | 20.0% |
| Others | 0.9 | 1.6 | 1.5 | 2.3 | 36.7% |
| Total | 49.0 | 55.5 | 60.8 | 72.4 | 13.9% |
Top Suppliers of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground to the United States in 2022:
- Sri Lanka (3.4K tons)
- Indonesia (3.0K tons)
- Vietnam (2.1K tons)
- India (0.4K tons)
Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States
In 2022, overseas shipments of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -17% to 193 tons, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +5.2% 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 decreased by -31.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 69%. As a result, the exports attained the peak of 280 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground rose sharply to $2.1M in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +23.6% 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 +88.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 87%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.
| Export of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 597 | 923 | 485 | 899 | 14.6% |
| Canada | 153 | 277 | 669 | 548 | 53.0% |
| Guatemala | 88.2 | 108 | 160 | 205 | 32.5% |
| Colombia | 107 | 75.7 | 246 | 146 | 10.9% |
| Sri Lanka | 85.8 | 515 | N/A | 61.1 | -10.7% |
| Hong Kong SAR | N/A | N/A | N/A | 13.3 | 0% |
| Vietnam | N/A | 55.4 | 39.0 | N/A | -29.6% |
| Others | 83.7 | 127 | 342 | 232 | 40.5% |
| Total | 1,115 | 2,082 | 1,942 | 2,104 | 23.6% |
Top Export Markets for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground from the United States in 2022:
- Mexico (104.3 tons)
- Canada (46.8 tons)
- Colombia (11.3 tons)
- Guatemala (10.0 tons)
- Sri Lanka (4.4 tons)
- Hong Kong SAR (3.1 tons)
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This report provides an in-depth analysis of the cinnamon market in the U.S..
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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 the U.S..
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This report provides an in-depth analysis of the global cinnamon market.
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In July 2022, the cinnamon price per ton amounted to $6,506, picking up by 14% against the previous month.
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In July 2022, the cinnamon price per ton amounted to $6,506, picking up by 14% against 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...
