Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Nigeria - 2022
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Nigeria (CIF) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Nigeria
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Nigeria (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $1,644 per ton, dropping by -25.8% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 120%. The import price peaked at $3,471 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($2,714 per ton), while the price for Italy ($783 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+41.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Nigeria
In 2022, supplies from abroad of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -4.3% to 51 tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 679%. As a result, imports attained the peak of 59 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground fell markedly to $84K in 2022. Over the period under review, imports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 1,611%. As a result, imports attained the peak of $128K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.1 | 108 | 91.4 | 52.1 | 261.8% |
| Vietnam | N/A | N/A | 16.1 | 18.6 | 15.5% |
| Italy | 1.1 | N/A | 3.6 | 13.0 | 127.8% |
| Germany | N/A | N/A | 2.4 | N/A | 0% |
| China | N/A | 18.9 | 0.2 | N/A | -98.9% |
| United Arab Emirates | 5.0 | 0.1 | N/A | N/A | -98.0% |
| Egypt | N/A | N/A | 3.9 | N/A | 0% |
| Others | 0.2 | 0.3 | 0.3 | N/A | 22.5% |
| Total | 7.5 | 128 | 118 | 83.7 | 123.5% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Nigeria in 2022:
- India (19.2 tons)
- Italy (16.5 tons)
- Vietnam (15.2 tons)
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This report provides an in-depth analysis of the cinnamon market in Nigeria.
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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 Nigeria.
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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...
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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
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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
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2660
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
9672
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
