Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China (FOB) - 2023
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China (CIF) - 2022
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China (FOB) - 2023
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $4,002 per ton in December 2023, growing by 10% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.8%. The growth pace was the most rapid in April 2023 an increase of 33% m-o-m. As a result, the export price attained the peak level of $4,653 per ton. From May 2023 to December 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Taiwan (Chinese) ($8,200 per ton), while the average price for exports to Thailand ($1,910 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+3.8%), 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 China (CIF) - 2022
The average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $13,251 per ton in 2022, surging by 33% against the previous year. In general, the import price enjoyed significant growth. The pace of growth was the most pronounced in 2021 an increase of 151% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($28,537 per ton), while the price for Vietnam amounted to $13,039 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+40.4%), 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 China
In 2022, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground from China contracted to 1.6K tons, waning by -14.4% on 2021 figures. Overall, exports faced a precipitous contraction. The smallest decline of -12.3% was in 2021.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground contracted to $5.7M in 2022. In general, exports recorded a abrupt descent. The smallest decline of -11.2% was in 2021.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 705 | 1,782 | 2,274 | 1,944 | 40.2% |
| Japan | 985 | 1,195 | 1,543 | 1,358 | 11.3% |
| Taiwan (Chinese) | N/A | 531 | 268 | 456 | -7.3% |
| Netherlands | 62.7 | 274 | 554 | 418 | 88.2% |
| United States | 33.2 | 100 | 57.1 | 285 | 104.8% |
| United Kingdom | 470 | 729 | 81.8 | 216 | -22.8% |
| Saudi Arabia | 70.8 | 766 | 291 | 143 | 26.4% |
| Kenya | N/A | N/A | 57.9 | 142 | 145.3% |
| Romania | 35.1 | 115 | 268 | 128 | 53.9% |
| Lebanon | 87.0 | 37.6 | 124 | 84.0 | -1.2% |
| Mexico | N/A | 22.0 | 23.0 | 62.4 | 68.4% |
| United Arab Emirates | 1,451 | N/A | N/A | N/A | 0% |
| Bangladesh | 2,891 | 100 | N/A | N/A | -96.5% |
| Others | 2,759 | 1,784 | 1,062 | 462 | -44.9% |
| Total | 9,550 | 7,437 | 6,604 | 5,697 | -15.8% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from China in 2022:
- Germany (589.6 tons)
- Japan (388.5 tons)
- Netherlands (99.1 tons)
- Taiwan (Chinese) (65.2 tons)
- United States (64.2 tons)
- United Kingdom (57.1 tons)
- Kenya (51.0 tons)
- Saudi Arabia (49.9 tons)
- Romania (44.8 tons)
- Lebanon (37.5 tons)
- Mexico (27.0 tons)
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China
In 2022, overseas purchases of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -8.1% to 8.8 tons, falling for the second year in a row after two years of growth. Overall, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 4,279% against the previous year. As a result, imports attained the peak of 122 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground skyrocketed to $117K in 2022. In general, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 4,759% against the previous year. As a result, imports reached the peak of $486K. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 0.1 | 13.6 | 51.0 | 113 | 941.6% |
| Indonesia | 0.4 | 413 | 1.8 | N/A | 112.1% |
| United Arab Emirates | 9.4 | N/A | N/A | N/A | 0% |
| Others | 0.2 | 59.5 | 42.8 | 3.5 | 159.6% |
| Total | 10.0 | 486 | 95.6 | 117 | 127.0% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to China in 2022:
- Vietnam (8.7 tons)
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