Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey - 2024
Contents:
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey (CIF) - 2024
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey (FOB) - 2022
- Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey
- Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey (CIF) - 2024
The average import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground stood at $1,472 per ton in January 2024, declining by -48.2% against the previous month. Over the period under review, the import price recorded a slight reduction. The growth pace was the most rapid in April 2023 when the average import price increased by 272% against the previous month. As a result, import price attained the peak level of $5,785 per ton. From May 2023 to January 2024, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Vietnam ($2,149 per ton), while the price for Indonesia ($1,060 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey (FOB) - 2022
The average export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground stood at $8,119 per ton in 2022, jumping by 44% against the previous year. In general, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 +35.0% against 2019 indices. The pace of growth appeared the most rapid in 2016 an increase of 81%. Over the period under review, the average export 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 for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($27,221 per ton), while the average price for exports to Syrian Arab Republic ($4,135 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 Syrian Arab Republic (+21.1%), 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 Turkey
In 2022, the amount of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground imported into Turkey soared to 2.3K tons, increasing by 21% compared with 2021. Over the period under review, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +15.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 47% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, imports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground expanded slightly to $4M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +13.6% 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 -5.8% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 56%. As a result, imports attained the peak of $4.2M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 351 | 239 | 413 | 1,546 | 63.9% |
| China | 662 | 1,690 | 756 | 1,126 | 19.4% |
| Vietnam | 1,413 | 2,051 | 2,254 | 985 | -11.3% |
| Sri Lanka | 173 | 208 | 264 | 324 | 23.3% |
| Others | 122 | 46.9 | 206 | 5.6 | -64.2% |
| Total | 2,721 | 4,234 | 3,892 | 3,987 | 13.6% |
Top Suppliers of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground to Turkey in 2022:
- Indonesia (1137.4 tons)
- China (723.6 tons)
- Vietnam (385.8 tons)
- Sri Lanka (18.8 tons)
Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey
In 2022, shipments abroad of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -15% to 288 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 116%. As a result, the exports attained the peak of 339 tons, and then shrank significantly in the following year.
In value terms, exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground soared to $2.3M in 2022. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2021 with an increase of 145%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 144 | 160 | 806 | 1,545 | 120.6% |
| Netherlands | 181 | 2.8 | 153 | 296 | 17.8% |
| United Kingdom | 60.6 | 228 | 247 | 268 | 64.1% |
| Syrian Arab Republic | 21.7 | 81.2 | 261 | 72.2 | 49.3% |
| Germany | 6.2 | 24.6 | 30.6 | 40.3 | 86.6% |
| Cyprus | 32.9 | 43.7 | 22.5 | 20.7 | -14.3% |
| Iraq | N/A | 84.8 | 3.6 | 0.9 | -89.7% |
| Others | 61.4 | 158 | 396 | 98.4 | 17.0% |
| Total | 508 | 783 | 1,918 | 2,342 | 66.4% |
Top Export Markets for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground from Turkey in 2022:
- United States (218.5 tons)
- United Kingdom (17.8 tons)
- Syrian Arab Republic (17.5 tons)
- Netherlands (10.9 tons)
- Germany (6.2 tons)
- Cyprus (4.8 tons)
- Iraq (0.1 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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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
307
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.
1090
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
