Portugal: Cinnamon Market Overview 2021

Cinnamon Market Size in Portugal

For the seventh consecutive year, the Portuguese cinnamon market recorded growth in sales value, which increased by X% to $X in 2019. Overall, consumption enjoyed a strong expansion. The pace of growth was the most pronounced in 2008 when the market value increased by X% y-o-y. Over the period under review, the market reached the maximum level in 2019 and is expected to retain growth in the immediate term.

Cinnamon Exports

Exports from Portugal

In 2019, cinnamon exports from Portugal dropped dramatically to X tonnes, with a decrease of -X% on 2018 figures. Over the period under review, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2012 with an increase of X% year-to-year. Exports peaked at X tonnes in 2014; however, from 2015 to 2019, exports failed to regain the momentum.

In value terms, cinnamon exports reduced notably to $X in 2019. Overall, exports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2012 when exports increased by X% y-o-y. Exports peaked at $X in 2016; however, from 2017 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Spain (X tonnes) was the main destination for cinnamon exports from Portugal, accounting for a X% share of total exports. Moreover, cinnamon exports to Spain exceeded the volume sent to the second major destination, Angola (X tonnes), threefold. France (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Spain amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-X% per year) and France (-X% per year).

In value terms, Spain ($X) remains the key foreign market for cinnamon exports from Portugal, comprising X% of total exports. The second position in the ranking was occupied by Angola ($X), with a X% share of total exports. It was followed by Morocco, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Spain stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-X% per year) and Morocco (-X% per year).

Export Prices by Country

In 2019, the average cinnamon export price amounted to $X per tonne, which is down by -X% against the previous year. Overall, export price indicated temperate growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, cinnamon export price decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2016; however, from 2017 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Spain ($X per tonne), while the average price for exports to Belgium ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Spain, while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into Portugal

For the third consecutive year, Portugal recorded growth in supplies from abroad of cinnamon (canella), which increased by X% to X tonnes in 2019. Over the period under review, total imports indicated a pronounced expansion from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure in 2019 and are likely to see gradual growth in the immediate term.

In value terms, cinnamon imports reached $X in 2019. In general, imports posted resilient growth. The pace of growth appeared the most rapid in 2008 when imports increased by X% year-to-year. Over the period under review, imports hit record highs in 2019 and are likely to continue growth in years to come.

Imports by Country

Indonesia (X tonnes), France (X tonnes) and Spain (X tonnes) were the main suppliers of cinnamon imports to Portugal, with a combined X% share of total imports. These countries were followed by Poland, the Netherlands, Germany and Viet Nam, which together accounted for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Poland ($X) and Indonesia ($X) were the largest cinnamon suppliers to Portugal, with a combined X% share of total imports.

Among the main suppliers, Poland (+X% per year) saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average cinnamon import price amounted to $X per tonne, which is down by -X% against the previous year. Over the period under review, the import price, however, continues to indicate prominent growth. The growth pace was the most rapid in 2016 an increase of X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2018, and then fell modestly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Poland ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Viet Nam, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cinnamon (canella) in the world?

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Indonesia (53K tonnes) constituted the country with the largest volume of cinnamon consumption, comprising approx. 21% of total volume. Moreover, cinnamon consumption in Indonesia exceeded the figures recorded by the second-largest consumer, the U.S. (26K tonnes), twofold. The third position in this ranking was occupied by India (23K tonnes), with a 9.2% share.

What are the largest producers of cinnamon (canella) in the world?

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The countries with the highest volumes of cinnamon production in 2019 were Indonesia (90K tonnes), China (83K tonnes) and Viet Nam (41K tonnes), with a combined 88% share of global production.

What are the leading suppliers of cinnamon (canella) to Portugal?

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In value terms, the largest cinnamon suppliers to Portugal were France ($1.2M), Poland ($1.2M) and Indonesia ($1.1M), together accounting for 77% of total imports.

What are the leading importers of cinnamon (canella) from Portugal?

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In value terms, Spain ($125K) remains the key foreign market for cinnamon exports from Portugal, comprising 70% of total exports. The second position in the ranking was occupied by Angola ($24K), with a 14% share of total exports. It was followed by Morocco, with a 3.1% share.

What is the average export price for cinnamon (canella) in Portugal?

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In 2019, the average cinnamon export price amounted to $11,418 per tonne, reducing by -9% against the previous year.

What is the average import price for cinnamon (canella) in Portugal?

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The average cinnamon import price stood at $7,587 per tonne in 2019, dropping by -1.8% against the previous year.