Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India (FOB) - 2023
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India (CIF) - 2023
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India (FOB) - 2023
In November 2023, the average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $4,675 per ton, with a decrease of -9.4% against the previous month. Overall, the export price continues to indicate a pronounced decrease. The growth pace was the most rapid in October 2023 an increase of 15% against the previous month. Over the period under review, the average export prices hit record highs at $7,287 per ton in November 2022; however, from December 2022 to November 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Australia ($7,246 per ton), while the average price for exports to the UK ($2,695 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.4%), 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 India (CIF) - 2023
The average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $4,507 per ton in November 2023, growing by 36% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 38% m-o-m. The import price peaked at $10,877 per ton in February 2023; however, from March 2023 to November 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was Vietnam ($4,604 per ton), while the price for Indonesia amounted to $4,094 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground, when their volume decreased by -24.6% to 790 tons. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 31% against the previous year.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground declined to $4.2M in 2022. The total export value increased at an average annual rate of +8.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by 44% against the previous year.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 851 | 1,444 | 1,213 | 1,387 | 17.7% |
| Canada | 705 | 863 | 1,084 | 996 | 12.2% |
| Australia | 587 | 631 | 684 | 505 | -4.9% |
| United Kingdom | 249 | 260 | 548 | 374 | 14.5% |
| Netherlands | 4.2 | 18.4 | 187 | 127 | 211.5% |
| South Africa | 55.5 | 34.4 | 78.0 | 123 | 30.4% |
| Israel | 11.0 | 17.1 | 34.3 | 115 | 118.7% |
| New Zealand | 123 | 200 | 128 | 76.0 | -14.8% |
| Denmark | 2.6 | 24.2 | 86.9 | 64.7 | 192.0% |
| Saudi Arabia | 32.6 | 7.7 | 2.1 | 60.4 | 22.8% |
| Others | 632 | 1,175 | 815 | 364 | -16.8% |
| Total | 3,254 | 4,675 | 4,860 | 4,193 | 8.8% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from India in 2022:
- United States (187.3 tons)
- Canada (177.9 tons)
- Australia (111.7 tons)
- United Kingdom (111.7 tons)
- Netherlands (27.9 tons)
- South Africa (27.7 tons)
- New Zealand (23.7 tons)
- Israel (19.9 tons)
- Saudi Arabia (13.6 tons)
- Denmark (12.5 tons)
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India
In 2022, approx. 986 tons of spices; cinnamon and cinnamon-tree flowers, crushed or ground were imported into India; rising by 232% compared with the previous year's figure. In general, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground surged to $3.4M in 2022. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 288% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 378 | 1,684 | 856 | 2,359 | 84.1% |
| Indonesia | 46.1 | 190 | 5.2 | 751 | 153.5% |
| Uganda | N/A | N/A | 155 | 157 | 1.3% |
| Sri Lanka | 29.5 | 211 | 74.3 | 94.5 | 47.4% |
| China | 48.9 | N/A | N/A | N/A | 0% |
| Others | 35.2 | 1.9 | 2.2 | 2.6 | -58.0% |
| Total | 538 | 2,087 | 1,093 | 3,364 | 84.2% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to India in 2022:
- Vietnam (783.0 tons)
- Indonesia (130.2 tons)
- Uganda (55.9 tons)
- Sri Lanka (16.5 tons)
1292
This report provides an in-depth analysis of the cinnamon market in India.
9549
This report provides an in-depth analysis of the global cinnamon market.
1292
This report provides an in-depth analysis of the cinnamon market in India.
9549
This report provides an in-depth analysis of the global cinnamon market.
253
The pace of growth for Cinnamon imports was most rapid in June 2023, increasing by 77% compared to the previous month. In October 2023, the value of cinnamon imports decreased significantly to $11M.
1129
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2694
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
9842
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
4042
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.
4468
Cinnamon production reached X thousand tons in 2016, with a positive dynamic being recorded over the last few years, except for a slight decline in 2010.
2920
Cinnamon is one of the most common spices today. It can be used in cooking, when added to salads, soups, or beverages (cinnamon flavored tea is very popular nowadays), or pharmaceutical industry. Besides, it is one of the most repeatedly used additives
2292
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
253
The pace of growth for Cinnamon imports was most rapid in June 2023, increasing by 77% compared to the previous month. In October 2023, the value of cinnamon imports decreased significantly to $11M.
1129
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
