Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore - 2022
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $2,909 per ton, declining by -18% against the previous year. Over the period under review, the import price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 when the average import price increased by 40%. Over the period under review, average import prices hit record highs at $4,341 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($10,766 per ton), while the price for Vietnam ($1,765 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+25.3%), 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 Singapore (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $2,517 per ton in 2022, remaining relatively unchanged against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 19%. The export price peaked at $2,539 per ton in 2021, and then shrank modestly in the following year.
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 Mauritius ($5,717 per ton), while the average price for exports to South Africa ($2,188 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 Mauritius (+15.2%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore
In 2022, approx. 214 tons of spices; cinnamon and cinnamon-tree flowers, crushed or ground were imported into Singapore; increasing by 29% on the previous year's figure. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 185%. As a result, imports attained the peak of 234 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $624K in 2022. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 126% against the previous year. As a result, imports attained the peak of $716K. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 47.4 | 297 | 165 | 300 | 85.0% |
| Indonesia | 70.6 | 195 | 173 | 115 | 17.7% |
| China | 33.9 | 12.1 | 73.2 | 41.4 | 6.9% |
| Philippines | 9.9 | 16.2 | 48.3 | 39.3 | 58.3% |
| United States | 53.1 | 52.8 | 18.7 | 27.3 | -19.9% |
| India | 25.8 | 43.0 | 19.6 | 17.0 | -13.0% |
| Malaysia | 24.7 | 28.9 | 27.6 | 14.8 | -15.7% |
| Others | 52.1 | 71.7 | 62.8 | 69.3 | 10.0% |
| Total | 317 | 716 | 589 | 624 | 25.3% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Singapore in 2022:
- Vietnam (170.2 tons)
- Indonesia (10.6 tons)
- Philippines (10.5 tons)
- China (9.4 tons)
- India (3.2 tons)
- Malaysia (3.0 tons)
- United States (2.4 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore
In 2022, the amount of spices; cinnamon and cinnamon-tree flowers, crushed or ground exported from Singapore soared to 166 tons, with an increase of 72% compared with the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground soared to $417K in 2022. Overall, total exports indicated a measured expansion from 2019 to 2022: its value increased at an average annual rate of +3.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -16.4% against 2020 indices.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 278 | 343 | 156 | 306 | 3.3% |
| Philippines | 40.4 | 109 | 40.2 | 44.5 | 3.3% |
| Others | 53.9 | 46.4 | 47.3 | 65.8 | 6.9% |
| Total | 372 | 498 | 244 | 417 | 3.9% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Singapore in 2022:
- South Africa (140.0 tons)
- Philippines (16.6 tons)
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This report provides an in-depth analysis of the cinnamon market in Singapore.
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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 Singapore.
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This report provides an in-depth analysis of the global cinnamon market.
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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
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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
9576
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
