Having up-to-date and precise information about cinnamon wholesale price gives traders the upper hand when negotiating the purchase of the product.
- 1 Cinnamon wholesale price in recent years
- 2 Cinnamon wholesale price in leading exporters
- 3 Notices about cinnamon wholesale price
- 4 Cinnamon wholesale price: Popular suppliers
- 5 Conclusion
Cinnamon wholesale price in recent years
A crucial step to fully understanding the operation of the wholesale cinnamon market is to constantly update the statistics and changes in the prices. The chart below shows the global price trends of wholesale cinnamon in the course of 6 months from July 2021 to December 2021. The statistics are taken from Tridge – an official website providing precise data about global agriculture.
Cinnamon wholesale price, in general, is quite stable in 2021, from $14,19 to $15.22 despite the raging of the Covid-19 pandemic. That fact firmly proves the stability of this market, making it a safe and promising field to invest in.
Cinnamon wholesale price in leading exporters
According to reliable statistics of OEC, the leading exporters of cinnamon through the years, always include Vietnam, Indonesia, and Sri Lanka. That is why the prices of cinnamon in bulk in those countries have received enormous concerns from traders.
Vietnam was the leading cinnamon exporter in 2019, especially the Cassia variety (according to OEC), which, with no doubt, urges ambitious cinnamon traders to search for the country’s average cinnamon price. Below is the range of wholesale prices of Vietnamese cinnamon.
Compared to two other nations, the price of Vietnamese cinnamon is a bit more affordable, along with a diverse range of cinnamon types. With reasonable wholesale cinnamon prices and excellent product quality, Vietnamese cinnamon is always sought-after in the global market.
According to a report from FAO, Vietnam’s total cinnamon production reached more than 41,408 tons in 2019, making up 17% of global production. At the same time, there is a remarkable growth in cinnamon demand, which is faster than that in supply, about 8-12%. The mismatch between supply and demand has caused the continuous increase of cinnamon prices since 2016. Seeing that, Vietnam’s cinnamon wholesale price is predicted to keep rising in the upcoming years if there is no proper governmental support policy or suitable cultivation expansion plans.
Well-known for its industrial cinnamon processes as well as high-quality Cassia cinnamon, Indonesian cinnamon wholesale price is always a big concern. The data below is collected from Tridge, illustrating trends of Indonesian wholesale cinnamon price in the latter half of 2021.
In 2021, Indonesia’s cinnamon wholesale price experienced several great fluctuations from July to December. That is why it is quite difficult to predict the cinnamon price in the upcoming phases, especially when the pandemic is still raging across the country. But it is safe to say that, even at the hardest time on 6th December, Indonesian cinnamon price still reached $5.89/kg, not too low compared to the global average price. That is also a firm guarantee for economic profits for ones who are planning to join this market.
Sri Lanka is a familiar destination for any purchasers and wholesalers who are looking for the prestigious Ceylon cinnamon. The country almost exclusively cultivates this type of cinnamon, which helps to boost its reputation and Ceylon cinnamon’s price in the market.
“Extremely high” are precise words to describe Sri Lanka’s wholesale cinnamon price. One of the most expensive Ceylon cinnamon varieties is Alba, which reached the price of $16.65/kg at the end of December 2021. The price is nearly 3 times more than that of the Cassia variety in Indonesia and Vietnam. Despite this “extravagant” price, Ceylon cinnamon is still dominant in Mexico and many European nations thanks to its milder and woodier flavor.
Although the price is a bit extravagant, it remains stable through the years. That feature is also one of the competitive factors that attract spice traders to enter this field.
Notices about cinnamon wholesale price
To thoroughly understand the market of wholesale cinnamon, it is a must to analyze noticeable features and fluctuations in the price market.
The price gap between Ceylon and Cassia cinnamon
Looking at the prices of purchasing cinnamon in bulk, it is easy to notice the huge gap between the price of Cassia stick cinnamon and that of the Ceylon one. That is explained by the relatively low quantity of Ceylon cinnamon, compared to its counterpart.
In Sri Lanka, the cultivation scale of cinnamon is quite humble and decentralized, which is a far cry from that of Cassia cinnamon. Cassia variety is grown in many Asian countries such as Vietnam, China, and Indonesia, giving it a huge advantage in cultivating areas. This is the main reason causing the scarcity in the quantity of Ceylon cinnamon.
Besides, the cultivation method also contributes to the difference in wholesale cinnamon price. In general, the production of Ceylon cinnamon is mostly manual. Farmers harvest cinnamon bark and leave it in their fields with their own hands and blunt tools. Yet other steps in their processing procedure such as drying, cutting, or packaging, are manual too. In the meanwhile, the production process of Cassia cinnamon in Indonesia, Vietnam, or China is mostly applying assembly lines, which creates abundant supply sources of this cinnamon.
Elements factor in cinnamon wholesale price
Spotting and accessing factors that affect the wholesale price of cinnamon is a mandatory step for any merchant in this field. It helps to obtain the market state and trends, which creates advantages for traders themselves in terms of risk management or profitability optimization.
- Abundant supply
According to a report from IndexBox, cinnamon’s average output volume rose by 1.7% each year in the course of 10 years, from 2007 to 2016. The increased amount and speed are relatively steady with minor fluctuations. In reports of World’s Top Exports, during 2019 and 2020, wholesale exported cinnamon’s volume experienced a surge of 34.8%. It proves that the supply of cinnamon has always been abundant and ready for the huge demand of consumers, which guarantees cinnamon traders cinnamon wholesale price stability and protects them from the threat of slippage.
- Huge demand
The global import value of cinnamon in bulk reached $748M in 2019, marking an impressive 30-percent-year-on-year growth, according to OEC. That clearly signals rising demand for the product, making the steady increase in cinnamon wholesale price acceptable to purchasers.
- Governmental policy
Recent years have witnessed the booming of bilateral and multilateral agreements stimulating commercial activities among nations by eliminating trade barriers. Those policies really help to ease the heat of rising cinnamon wholesale prices, giving buyers more affordable prices.
- Covid-19 pandemic
Opposite from the majority’s thought, the price of trading cinnamon in bulk is not severely affected by the pandemic. Instead, the cinnamon wholesale price’s state remains stable throughout the year. Even at times, cinnamon was sold at a much higher price, compared to the average number. So as a trader, you can always be confident in the potential of this field.
Cinnamon wholesale price: Popular suppliers
The list below will be really helpful for ones stretching their heads for finding reliable cinnamon suppliers.
It is no longer a strange brand both in Vietnam and in the world, in terms of trading cinnamon in bulk. The corporation is well-known for its diverse range of organic products as well as its high product quality.
The price of cinnamon in bulk in this company is a little bit higher than others due to its best-quality organic cinnamon in Vietnam. However, compared to other units in Sri Lanka or Indonesia, the cinnamon wholesale price is still cheaper while the products remain the same quality.
This leading agricultural factory is accredited for its long experience in trading cinnamon in bulk both domestically and globally. The company also has cinnamon factories to ensure the quality and quantity of the products. Besides, wholesale customers who come to the company can feel free to ask for custom product packaging services.
K-Agriculture’s cinnamon wholesale price is really affordable, compared to other current wholesale companies in the market. That’s why after 20 years, the company has gained a tremendous amount of trust from international customers.
WhatsApp: +84855 555 837
Located in Sri Lanka, Lak Cinnamon obtains a huge advantage in manufacturing and distributing the prestigious Ceylon cinnamon. Buyers coming to this company are always satisfied by its excellent product quality and professional customer service.
It is transparent that cinnamon wholesale price in Lak Cinnamon is much more expensive than many others. But that is worth it when it comes to Ceylon cinnamon.
To update the latest news about cinnamon wholesale prices from giant exporters all over the world, please visit the website https://k-agriculture.com/ or contact +84855 555 837 (Whatsapp available) to get more details.