Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $5,095 per ton, picking up by 14% against the previous year. Overall, the import price showed a prominent expansion. The pace of growth appeared the most rapid in 2015 an increase of 78%. Over the period under review, average import prices reached the maximum at $5,099 per ton in 2020; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($15,040 per ton), while the price for Vietnam ($4,357 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+31.9%), 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 Hong Kong SAR (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $6,953 per ton in 2022, picking up by 45% against the previous year. In general, the export price posted a strong increase. The most prominent rate of growth was recorded in 2021 an increase of 197% against the previous year. The export price peaked at $7,441 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($12,296 per ton), while the average price for exports to the United States ($5,554 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 China (+116.4%), 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 Hong Kong SAR
Imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground into Hong Kong SAR shrank sharply to 55 tons in 2022, declining by -51.8% against 2021. Overall, imports showed a pronounced decline. The pace of growth was the most pronounced in 2021 with an increase of 88%. As a result, imports attained the peak of 114 tons, and then contracted notably in the following year.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground contracted rapidly to $281K in 2022. In general, imports, however, recorded a noticeable expansion. The growth pace was the most rapid in 2021 with an increase of 66% against the previous year. As a result, imports attained the peak of $514K, and then shrank dramatically in the following year.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 112 | 110 | 125 | 131 | 5.4% |
| China | 42.3 | 48.4 | 319 | 97.8 | 32.2% |
| United States | 62.8 | 101 | 49.9 | 26.2 | -25.3% |
| India | 7.7 | 24.7 | 7.1 | N/A | -4.0% |
| Others | 30.8 | 26.7 | 12.9 | 26.3 | -5.1% |
| Total | 255 | 311 | 514 | 281 | 3.3% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Hong Kong SAR in 2022:
- Vietnam (30.0 tons)
- China (21.9 tons)
- United States (1.7 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR
In 2022, after two years of decline, there was significant growth in overseas shipments of spices; cinnamon and cinnamon-tree flowers, crushed or ground, when their volume increased by 145% to 6.5 tons. Overall, exports, however, recorded a sharp downturn.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground skyrocketed to $45K in 2022. Over the period under review, exports, however, recorded a deep reduction.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 7.5 | 9.7 | 4.8 | 22.6 | 44.4% |
| Australia | 7.2 | 4.0 | 4.1 | 9.1 | 8.1% |
| Japan | 2.8 | N/A | N/A | 4.7 | 18.8% |
| Macao SAR | 5.0 | 4.0 | 3.9 | 3.4 | -12.1% |
| United States | N/A | 1.3 | N/A | 2.8 | 46.8% |
| Singapore | N/A | N/A | N/A | 2.7 | 0% |
| Taiwan (Chinese) | 42.0 | 22.5 | N/A | N/A | -46.4% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 64.5 | 41.6 | 12.8 | 45.3 | -11.1% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Hong Kong SAR in 2022:
- Canada (3.2 tons)
- Australia (1.5 tons)
- Japan (0.7 tons)
- United States (0.5 tons)
- Singapore (0.3 tons)
- Macao SAR (0.3 tons)
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This report provides an in-depth analysis of the cinnamon market in Hong Kong SAR, China.
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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 Hong Kong SAR, China.
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This report provides an in-depth analysis of the global cinnamon market.
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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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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
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2717
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
9954
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
