Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia - 2024
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia (CIF) - 2024
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia (CIF) - 2024
The average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $5,507 per ton in January 2024, increasing by 22% against the previous month. Over the period under review, the import price continues to indicate a moderate increase. The most prominent rate of growth was recorded in February 2023 an increase of 48% m-o-m. Over the period under review, average import prices hit record highs at $7,064 per ton in April 2023; however, from May 2023 to January 2024, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Sri Lanka ($13,094 per ton), while the price for Indonesia ($4,670 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $5,986 per ton in 2022, declining by -43.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 84% against the previous year. As a result, the export price reached the peak level of $13,336 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($31,105 per ton), while the average price for exports to India ($2,247 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 (+48.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia
For the fourth consecutive year, Australia recorded growth in supplies from abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground, which increased by 0.7% to 920 tons in 2022. The total import volume increased at an average annual rate of +3.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 8.4% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $4.2M in 2022. The total import value increased at an average annual rate of +10.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,198 | 797 | 1,257 | 1,625 | 10.7% |
| Vietnam | 684 | 1,084 | 1,104 | 1,311 | 24.2% |
| India | 446 | 596 | 734 | 680 | 15.1% |
| Sri Lanka | 338 | 311 | 382 | 346 | 0.8% |
| United States | 129 | 149 | 125 | 112 | -4.6% |
| China | 85.1 | 234 | 60.4 | 64.7 | -8.7% |
| Madagascar | 241 | 118 | 32.2 | N/A | -63.4% |
| Others | 20.9 | 76.1 | 435 | 71.6 | 50.7% |
| Total | 3,141 | 3,365 | 4,130 | 4,210 | 10.3% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Australia in 2022:
- Vietnam (328.3 tons)
- Indonesia (313.2 tons)
- India (136.3 tons)
- Sri Lanka (99.5 tons)
- United States (20.5 tons)
- China (14.8 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia
For the fourth year in a row, Australia recorded growth in shipments abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground, which increased by 98% to 61 tons in 2022. In general, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground expanded markedly to $366K in 2022. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 58%. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 63.7 | 81.0 | 192 | 244 | 56.5% |
| Malaysia | 56.8 | 68.4 | 85.4 | 45.3 | -7.3% |
| Singapore | 24.1 | 26.7 | 25.5 | 36.6 | 14.9% |
| India | N/A | N/A | N/A | 10.1 | 0% |
| Others | 27.0 | 32.0 | 25.6 | 30.6 | 4.3% |
| Total | 172 | 208 | 329 | 366 | 28.6% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Australia in 2022:
- New Zealand (48.8 tons)
- India (4.5 tons)
- Malaysia (3.3 tons)
- Singapore (2.1 tons)
2013
This report provides an in-depth analysis of the cinnamon market in Australia.
9341
This report provides an in-depth analysis of the global cinnamon market.
2013
This report provides an in-depth analysis of the cinnamon market in Australia.
9341
This report provides an in-depth analysis of the global cinnamon market.
1090
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2636
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
9575
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
3877
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.
4428
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
2257
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
1090
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2636
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
9575
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
