Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria - 2022
Contents:
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria (CIF) - 2022
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria (FOB) - 2022
- Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria
- Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria (CIF) - 2022
The average import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground stood at $6,007 per ton in 2022, increasing by 708% against the previous year. In general, the import price showed a strong increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 1,742%. The import price peaked in 2022 and is expected to retain growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for Lebanon.
From 2012 to 2022, the rate of growth in terms of prices for Lebanon amounted to +501.3% per year.
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria (FOB) - 2022
In 2022, the average export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground amounted to $1,450 per ton, approximately equating the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 a decrease of 99.9% against the previous year. The export price peaked at $1,450 per ton in 2020; afterwards, it flattened through to 2022.
As there is only one major export destination, the average price level is determined by prices for Canada.
From 2020 to 2022, the rate of growth in terms of prices for Turkey amounted to 0.0% per year.
Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria
After three years of growth, supplies from abroad of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -96.9% to 5.2 tons in 2022. In general, imports saw a deep downturn. The growth pace was the most rapid in 2021 with an increase of 1,760%. As a result, imports reached the peak of 169 tons, and then contracted notably in the following year.
In value terms, imports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground fell significantly to $31K in 2022. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 34,161% against the previous year. As a result, imports attained the peak of $126K, and then shrank notably in the following year.
| Import of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lebanon | N/A | N/A | 50.6 | 31.4 | -37.9% |
| United States | N/A | N/A | 9.3 | N/A | 0% |
| United Arab Emirates | 5.7 | 0.4 | 8.9 | N/A | 25.0% |
| Italy | N/A | N/A | 56.3 | N/A | 0% |
| Others | 1.4 | N/A | 0.6 | N/A | -34.5% |
| Total | 7.0 | 0.4 | 126 | 31.4 | 64.9% |
Top Suppliers of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground to Nigeria in 2022:
- Lebanon (5.2 tons)
Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria
Exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground from Nigeria was estimated at 6.1 tons in 2022, stabilizing at 2021 figures. Over the period under review, exports recorded a dramatic contraction. The smallest decline of 99.9% was in 2021.
In value terms, exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground totaled $8.8K in 2022. In general, exports continue to indicate a precipitous slump. The smallest decline of 99.9% was in 2021.
| Export of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| Canada | N/A | N/A | 8.8 | 0% | |
| Turkey | 17.5 | N/A | N/A | 0% | |
| Others | N/A | N/A | N/A | 0% | |
| Total | 17.5 | N/A | 8.8 | -29.1% | |
Top Export Markets for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground from Nigeria in 2022:
- Canada (6.0 tons)
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This report provides an in-depth analysis of the cinnamon market in Nigeria.
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This report provides an in-depth analysis of the global cinnamon market.
1055
This report provides an in-depth analysis of the cinnamon market in Nigeria.
9558
This report provides an in-depth analysis of the global cinnamon market.
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
9847
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
4045
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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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.
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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
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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
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
9847
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
