Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark - 2023

Contents:

1. Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark (CIF) - 2022
2. Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark (FOB) - 2022
3. Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark
4. Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark

Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark (CIF) - 2022

In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $7,394 per ton, waning by -9.9% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average import price increased by 29%. Over the period under review, average import prices hit record highs at $8,206 per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($20,567 per ton), while the price for China ($2,728 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark (FOB) - 2022

The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $7,738 per ton in 2022, with an increase of 3.3% against the previous year. Over the period under review, the export price posted strong growth. The growth pace was the most rapid in 2015 an increase of 105%. As a result, the export price attained the peak level of $13,745 per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Faroe Islands ($16,989 per ton), while the average price for exports to Iceland ($2,887 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 the Netherlands (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark

In 2022, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground into Denmark contracted remarkably to 418 tons, reducing by -16.3% compared with 2021. Overall, total imports indicated measured growth from 2019 to 2022: its volume increased at an average annual rate of +3.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 87%. As a result, imports attained the peak of 500 tons, and then fell notably in the following year.

In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground reduced remarkably to $3.1M in 2022. Over the period under review, imports, however, posted strong growth. The pace of growth was the most pronounced in 2021 with an increase of 94% against the previous year. As a result, imports reached the peak of $4.1M, and then fell remarkably in the following year.

Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Denmark in 2022:

1. Germany (166.5 tons)
2. Netherlands (116.7 tons)
3. Sweden (38.7 tons)
4. India (21.9 tons)
5. Spain (21.1 tons)
6. Poland (16.7 tons)
7. China (16.0 tons)
8. Finland (4.5 tons)

Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Denmark

Exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground from Denmark contracted dramatically to 78 tons in 2022, dropping by -28.1% against the previous year's figure. Over the period under review, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 251%. As a result, the exports attained the peak of 109 tons, and then contracted markedly in the following year.

In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground shrank remarkably to $606K in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 174% against the previous year. As a result, the exports reached the peak of $817K, and then dropped rapidly in the following year.

Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Denmark in 2022:

1. Sweden (49.1 tons)
2. Norway (13.9 tons)
3. Iceland (4.4 tons)
4. Netherlands (1.6 tons)
5. France (1.4 tons)
6. Faroe Islands (1.3 tons)
7. Finland (1.0 tons)
8. Greenland (0.9 tons)

Source: IndexBox Market Intelligence Platform