Pakistan: Cinnamon Market 2022

Cinnamon Market Size in Pakistan

After two years of growth, the Pakistani cinnamon market decreased by -X% to $X in 2021. Overall, consumption, however, showed prominent growth. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Cinnamon Exports

Exports from Pakistan

In 2021, approx. X tonnes of cinnamon (canella) were exported from Pakistan; increasing by X% on 2020 figures. Over the period under review, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, cinnamon exports surged to $X in 2021. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tonnes), Canada (X tonnes) and Australia (X kg) were the main destinations of cinnamon exports from Pakistan, together accounting for X% of total exports. Hong Kong SAR, South Korea, Kuwait and Denmark lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Denmark (+X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for cinnamon exports from Pakistan, comprising X% of total exports. The second position in the ranking was occupied by Australia ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Canada (+X% per year).

Export Prices by Country

The average cinnamon export price stood at $X per tonne in 2021, with an increase of X% against the previous year. Overall, the export price saw a buoyant expansion. The growth pace was the most rapid in 2017 when the average export price increased by X% year-to-year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Kuwait ($X per tonne), while the average price for exports to Canada ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into Pakistan

In 2021, after two years of growth, there was significant decline in purchases abroad of cinnamon (canella), when their volume decreased by -X% to X tonnes. Over the period under review, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. Over the period under review, imports hit record highs at X tonnes in 2020, and then contracted markedly in the following year.

In value terms, cinnamon imports reduced to $X in 2021. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% year-to-year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tonnes) was the main supplier of cinnamon to Pakistan, with a X% share of total imports. Moreover, cinnamon imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tonnes), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+X% per year) and Sri Lanka (+X% per year).

In value terms, China ($X) constituted the largest supplier of cinnamon to Pakistan, comprising X% of total imports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+X% per year) and Sri Lanka (+X% per year).

Import Prices by Country

In 2021, the average cinnamon import price amounted to $X per tonne, growing by X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2013 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was China ($X per tonne), while the price for Sri Lanka ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform