Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK - 2023
Contents:
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK (CIF) - 2023
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK (FOB) - 2022
- Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK
- Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK (CIF) - 2023
The average import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground stood at $6,920 per ton in December 2023, growing by 9.2% against the previous month. Over the period under review, import price indicated a resilient expansion from December 2022 to December 2023: its price increased at an average monthly rate of +5.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -12.0% against September 2023 indices. The pace of growth was the most pronounced in September 2023 an increase of 40% m-o-m. As a result, import price reached the peak level of $7,860 per ton. From October 2023 to December 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Sri Lanka ($49,662 per ton), while the price for India ($3,157 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Madagascar (+30.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK (FOB) - 2022
The average export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground stood at $5,142 per ton in 2022, shrinking by -31.1% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -51.2% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 94%. The export price peaked at $10,547 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($12,075 per ton), while the average price for exports to Germany ($2,928 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 Italy (+14.6%), 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 the UK
In 2022, the amount of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground imported into the UK rose sharply to 863 tons, growing by 7.5% against the previous year's figure. The total import volume increased at an average annual rate of +6.0% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 13% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, imports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground rose to $4.9M in 2022. The total import value increased at an average annual rate of +9.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 17%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | 480 | 616 | 839 | 1,914 | 58.6% |
| China | 1,523 | 2,398 | 1,283 | 947 | -14.6% |
| Vietnam | 370 | 184 | 408 | 690 | 23.1% |
| India | 32.5 | 104 | 354 | 343 | 119.3% |
| Madagascar | 253 | 118 | 308 | 312 | 7.2% |
| Indonesia | 75.1 | 24.5 | 252 | 224 | 43.9% |
| Tanzania | 218 | 168 | 49.2 | 167 | -8.5% |
| Others | 800 | 787 | 1,216 | 257 | -31.5% |
| Total | 3,751 | 4,399 | 4,710 | 4,855 | 9.0% |
Top Suppliers of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground to the UK in 2022:
- China (222.5 tons)
- Vietnam (161.4 tons)
- Sri Lanka (129.8 tons)
- Madagascar (113.7 tons)
- India (103.9 tons)
- Tanzania (67.2 tons)
- Indonesia (29.4 tons)
Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK
After three years of growth, shipments abroad of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -29.9% to 144 tons in 2022. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 158% against the previous year. As a result, the exports attained the peak of 206 tons, and then shrank remarkably in the following year.
In value terms, exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground contracted notably to $741K in 2022. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 83% against the previous year. As a result, the exports attained the peak of $1.5M, and then dropped significantly in the following year.
| Export of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 32.9 | 19.3 | 1,001 | 419 | 133.5% |
| Ireland | 110 | 245 | 212 | 182 | 18.3% |
| Germany | 16.4 | 117 | 110 | 78.6 | 68.6% |
| Austria | 131 | 57.1 | 1.7 | 3.3 | -70.7% |
| Spain | 38.6 | 57.5 | 12.8 | 2.9 | -57.8% |
| France | 20.5 | 33.5 | 3.9 | 1.2 | -61.2% |
| Belize | N/A | 82.3 | N/A | N/A | 0% |
| Sri Lanka | 73.4 | 73.2 | 140 | N/A | 38.1% |
| Others | 128 | 155 | 53.0 | 54.7 | -24.7% |
| Total | 550 | 840 | 1,535 | 741 | 10.4% |
Top Export Markets for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground from the UK in 2022:
- Netherlands (98.6 tons)
- Germany (26.8 tons)
- Ireland (15.1 tons)
- Austria (0.4 tons)
- Spain (0.3 tons)
- France (0.1 tons)
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This report provides an in-depth analysis of the cinnamon market in the UK.
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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 the UK.
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This report provides an in-depth analysis of the global cinnamon market.
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The growth rate of Cinnamon reached its peak in May 2023 with a remarkable 75% increase compared to the previous month. However, by August 2023, the value of cinnamon imports experienced a decline, reaching $1.5M.
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
