Colombia - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCinnamon Price in Colombia - 2022
Contents:
- Cinnamon Price in Colombia (CIF) - 2022
- Cinnamon Price in Colombia (FOB) - 2022
- Cinnamon Imports in Colombia
- Cinnamon Exports in Colombia
Cinnamon Price in Colombia (CIF) - 2022
The average cinnamon import price stood at $12,101 per ton in February 2022, reducing by -7.9% against the previous month. Over the period under review, import price indicated a mild increase from February 2021 to February 2022: its price increased at an average monthly rate of +1.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2022 figures, cinnamon import price increased by +80.0% against November 2021 indices. The growth pace was the most rapid in January 2022 when the average import price increased by 51% month-to-month. As a result, import price reached the peak level of $13,133 per ton, and then shrank in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($17,332 per ton), while the price for India ($4,000 per ton) was amongst the lowest.
From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Cinnamon Price in Colombia (FOB) - 2022
The average cinnamon export price stood at $10,687 per ton in 2022, shrinking by -19.1% against the previous year. Over the period under review, the export price showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 an increase of 162% against the previous year. The export price peaked at $17,685 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($46,007 per ton), while the average price for exports to Panama ($6,754 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 Panama (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.
Cinnamon Imports in Colombia
In 2022, after three years of growth, there was decline in supplies from abroad of cinnamon (canella), when their volume decreased by -2.2% to 1.2K tons. The total import volume increased at an average annual rate of +1.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 3.9% against the previous year.
In value terms, cinnamon imports fell to $11M in 2022. The total import value increased at an average annual rate of +7.3% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 15% against the previous year.
| Import of Cinnamon in Colombia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | 8.1 | 9.6 | 10.3 | 10.1 | 7.6% |
| United States | 0.5 | 0.4 | 0.8 | 0.2 | -26.3% |
| Vietnam | 0.2 | 0.2 | 0.1 | 0.2 | 0.0% |
| China | 0.2 | 0.1 | 0.3 | 0.2 | 0.0% |
| Others | 0.2 | 0.2 | 0.5 | 0.6 | 44.2% |
| Total | 9.1 | 10.5 | 12.0 | 11.3 | 7.5% |
Top Suppliers of Cinnamon to Colombia in 2022:
- Sri Lanka (865.1 tons)
- Vietnam (89.8 tons)
- China (85.7 tons)
- United States (15.3 tons)
Cinnamon Exports in Colombia
In 2022, the amount of cinnamon (canella) exported from Colombia dropped sharply to 17 tons, reducing by -27.2% compared with 2021 figures. In general, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 114%. As a result, the exports attained the peak of 23 tons, and then contracted notably in the following year.
In value terms, cinnamon exports reduced sharply to $183K in 2022. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 462%. As a result, the exports reached the peak of $310K, and then declined sharply in the following year.
| Export of Cinnamon in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | N/A | N/A | 284 | 149 | -47.5% |
| Spain | 44.3 | 11.2 | 9.8 | 12.6 | -34.2% |
| Panama | 16.0 | 4.1 | 2.8 | 3.3 | -40.9% |
| United States | 25.8 | 2.5 | 2.7 | 3.1 | -50.7% |
| Aruba | 12.1 | 2.8 | 0.2 | 1.7 | -48.0% |
| Indonesia | N/A | 22.7 | N/A | N/A | 0% |
| Others | 45.8 | 11.8 | 10.2 | 12.6 | -35.0% |
| Total | 144 | 55.2 | 310 | 183 | 8.3% |
Top Export Markets for Cinnamon from Colombia in 2022:
- Sri Lanka (15.6 tons)
- Panama (0.5 tons)
- United States (0.3 tons)
- Spain (0.3 tons)
- Aruba (0.2 tons)
This report provides an in-depth analysis of the cinnamon market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 693 - Cinnamon (canella)
Country coverage:
- Colombia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Colombia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the cinnamon market in Colombia.
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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 Colombia.
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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...
2607
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
9498
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
3838
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.
4395
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.
2852
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
2234
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
1067
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2607
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
9498
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
