Latest price of wholesale cinnamon sticks

Cinnamon stick is a popular spice that is used for a variety of purposes in our everyday lives and is also viewed as a promising industry. In this article, we will provide you with all of the most essential information about wholesale cinnamon sticks, specializing in the market price of it.

Factors affecting the price of wholesale cinnamon sticks

Specifications of cinnamon sticks

The price of cinnamon sticks is determined by a number of specs relating to chemical components and physical appearance. If you are a trader of this product, some of the specifications that you should keep in mind are oil content, moisture content and some physical traits like roll degree (typically about 80%) or length…

Supply and demand volume of wholesale cinnamon

Economically speaking, supply and demand affect the price of every product, including the prestigious wholesale cinnamon sticks.

Supply: According to UNData, global cinnamon production climbed by 60% between 2010 and 2018. In the next few years, this figure is anticipated to rise much more. The global cinnamon market will increase at a compound yearly growth rate of 2.21 percent from 2019 to 2024. As a result, we can confidently predict that cinnamon supplies will stay abundant, ensuring steady prices and smooth trading activities.

Demand: The value of international cinnamon imports increased by over 30% in 2019. The cinnamon market will continue to grow as people become more aware of the health benefits connected with wholesale cinnamon sticks. It is expected to be worth $1.9 million by 2025, according to Grand View Research. Because customers are prepared to pay more for this useful commodity, the price of cinnamon will continue to rise as the market develops.

Logistic charges

Cinnamon sticks’ price is heavily affected by logistic charges. The Covid-19 pandemic has destroyed the other two major markets for wholesale cinnamon sticks, the United States and the European Union, in the previous two years. Since October 20, 2021, the freight rate for each 40-foot container has increased dramatically. Many importers have been compelled to exit the market as a result of this predicament. Despite the fact that 2021 is a difficult year for international economics, including the wholesale cinnamon stick sector, it is only a temporary downturn. With the huge potential of this industry, more and more logistical routes will be built in the next few years to boost commerce between suppliers and retailers.

Government policies

Governments will decrease legal barriers and taxes on their imports by establishing bilateral and multilateral agreements, resulting in lower wholesale prices. For example, the EU-Vietnam Free Trade Agreement (EVFTA) went into force in August 2020, removing 99 percent of tariffs and making wholesale cinnamon stick imports into the EU easier and cheaper.

Updated price of cinnamon sticks in bulk

The cost of wholesale cinnamon sticks vary depending on the country or provider:

  • With prices about $5800 per MT, Vietnam and China are now the cheapest suppliers of this chemical. This is because of the abundant supply and inexpensive logistics costs. Due to their affordable wholesale cinnamon costs and outstanding product quality, Vietnamese cinnamon bark is always in demand around the world.
  • Because Indonesia is recognized for its industrial cinnamon operations as well as high-quality Cassia cinnamon, wholesale cinnamon stick cost is usually a major issue. According to Tridge data, the price of Indonesian cinnamon in the second half of 2021 fluctuated dramatically and stopped at nearly $6500 per MT.
  • In Sri Lanka, the wholesale price of cinnamon sticks is “extremely high.” Alba is one of the most expensive Ceylon cinnamon varieties, with a price of $16.65 per kilogram at the end of December 2021. Because of their milder, woodier flavor, Ceylon cinnamon remains popular in Mexico and many European countries despite their “exorbitant” price.
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