Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea - 2022
Contents:
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea (CIF) - 2022
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea (FOB) - 2022
- Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea
- Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea (CIF) - 2022
In December 2022, the average import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground amounted to $3,014 per ton, which is down by -8% against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 an increase of 25% month-to-month. The import price peaked at $3,699 per ton in July 2022; however, from August 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was China ($23,333 per ton), while the price for Vietnam amounted to $2,890 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+18.3%).
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea (FOB) - 2022
In 2022, the average export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground amounted to $8,087 per ton, waning by -38.1% against the previous year. In general, the export price, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of 145%. As a result, the export price attained the peak level of $13,067 per ton, and then declined sharply in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($9,776 per ton), while the average price for exports to Australia ($243 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 Vietnam (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea
In 2022, purchases abroad of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground was finally on the rise to reach 1.8K tons after two years of decline. Over the period under review, imports, however, showed a abrupt descent.
In value terms, imports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground expanded markedly to $5.9M in 2022. In general, imports, however, saw a slight descent.
| Import of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 5.8 | 6.0 | 5.3 | 5.2 | -3.6% |
| China | 0.4 | 0.4 | 0.3 | 0.5 | 7.7% |
| Others | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Total | 6.2 | 6.5 | 5.7 | 5.9 | -1.6% |
Top Suppliers of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground to South Korea in 2022:
- Vietnam (1641.2 tons)
- China (159.8 tons)
Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea
In 2022, overseas shipments of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -27.4% to 2 tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a significant decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 125%. As a result, the exports reached the peak of 11 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground shrank markedly to $16K in 2022. Over the period under review, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2020 when exports increased by 252% against the previous year. As a result, the exports attained the peak of $60K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.8 | 7.4 | 15.6 | 15.6 | 48.1% |
| Philippines | N/A | N/A | N/A | 0.3 | 0% |
| China | N/A | N/A | 19.9 | N/A | 0% |
| Vietnam | 11.9 | 53.0 | N/A | N/A | 345.4% |
| Australia | N/A | N/A | N/A | N/A | 0% |
| Others | 0.5 | N/A | N/A | N/A | 0% |
| Total | 17.1 | 60.4 | 35.5 | 15.9 | -2.4% |
Top Export Markets for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground from South Korea in 2022:
- United States (1595.0 kg)
- Philippines (236.0 kg)
- Australia (140.0 kg)
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This report provides an in-depth analysis of the cinnamon market in Republic of Korea.
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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 Republic of Korea.
9485
This report provides an in-depth analysis of the global cinnamon market.
1121
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
9782
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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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
1121
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2682
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
9782
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
