Cinnamon sticks are the most potential products among other cinnamon products. Hence, the updated information about the cinnamon stick price is of great interest. What is the latest cinnamon stick price? How is the price of cinnamon sticks higher than others’? The article below will give you the best answer.
Table of contents
A brief introduction about cinnamon stick price
A brief understanding of cinnamon sticks and cinnamon stick prices in recent years will lay a good foundation before deciding to purchase and sell this product.
Definition of cinnamon sticks
Since cinnamon sticks are one cinnamon product that is curled and small, about 1.5–2 cm in diameter and about 15-20 cm in length. Besides, the length of cinnamon sticks can go up 30 – 45 cm depending on the customer requirements. Its appearance looks like a stick. Because it is regarded as a high-segment product, the cinnamon stick price is higher than others.
Different types of Cinnamon sticks
Cassia cinnamon sticks and Ceylon cinnamon sticks are the two primary varieties of cinnamon sticks.
- Cassia cinnamon sticks are mostly sourced in China, Vietnam, and Indonesia. Because Cassia cinnamon sticks are more popular across the world, the Cassia cinnamon stick price is lower.
- Ceylon cinnamon sticks are native to Sri Lanka. In general, Ceylon cinnamon sticks are quite pricey when compared to Cassia cinnamon sticks.
Because Ceylon cinnamon sticks have lower coverage in the world and cultivation size has decreased in recent years, the next sections of this article will focus mostly on the Cassia type and its cinnamon stick price.
Cinnamon wholesale price in recent years
During recent years, the price of cinnamon in general and the cinnamon stick price in particular is quite stable though a slight drop due to the COVID-19 impact. The chart below will demonstrate the latest update of the cinnamon wholesale price from 2022, therefore, some predictions of cinnamon sticks will be included.
Despite undergoing slight fluctuations, the cinnamon wholesale price has proved its sustainability from roughly $6.08 to $6.62 in Cinnamon/ Good quality/ Unspecified category and from $5.89 to $6.45 in Cinnamon/ Unspecified category. Therefore, the cinnamon stick price can somehow inherit this trend and have a relatively stable price.
Cinnamon stick price: A comparison
With the aim of getting the latest and clearest information about cinnamon stick prices, this section will provide two main parts, including the general view of cinnamon stick prices in some countries and a comparison between cinnamon stick prices with other cinnamon product prices.
Cinnamon stick price in some countries
As per FAOSTAT, in 2020, three world’s leading cinnamon producing cinnamon nations are Indonesia, China, and Vietnam with 91,242 tonnes, 72,531 tonnes and 31,429 tonnes. As a general rule, these countries have the highest quantity of cinnamon sticks. especially Cassia cinnamon sticks. In general, these countries enjoy the same section in the cinnamon stick price fluctuations from roughly $5.2 to $6.5 per kilogram depend on the quality of products including FOB – Free on Board and CIF – Cost, Insurance, Freight, according to the update price of the largest mobile electronic commerces, Alibaba and go4WorldBusiness. In conclusion, if you want to buy bulk cinnamon stick to maximize your profits, Viet Nam, Indonesia and China are the potential suppliers.
Comparison of cinnamon stick price and other cinnamon products’ price
Today, there are many types of cinnamon products including cinnamon sticks, cinnamon tube, cinnamon broken, cinnamon cigarette, cinnamon powder, cinnamon oil and cinnamon split. The table below will illustrate the gap in cinnamon price of some common cinnamon products.
Cinnamon sticks have the highest price at $16/ carton/ 10-20 kilogram together with cinnamon tubes. Except for cinnamon tubes, compared with other cinnamon product types’ price, cinnamon stick price is approximately double and triple the price of others because of the wide applicability in different fields including decoration, pharmacy, and food spices. In some European countries and the United States, the biggest importers of cinnamon in the world, cinnamon sticks are also considered as the classic Christmas ornaments, therefore, cinnamon stick price is the high-segmented.
Cinnamon stick price forecast in the near future
In the near future, cinnamon stick prices, especially Cassia cinnamon sticks in Vietnam, will tend to increase gradually.
In the Vietnam market, the cinnamon stick price is inclined to grow steadily. The average export price of Vietnamese cinnamon is about 40 USD/kg, higher than the price of cinnamon in China and Indonesia, according to the information from the Vietnam Cinnamon Development workshop organized by the Ministry of Agriculture and Rural Development (MARD) and Sustainable Trade Initiatives (IDH) in 2021.
The price of Ceylon cinnamon sticks from Sri Lanka is also estimated to increase rapidly due to the severe droughts in recent years.
Elements affecting cinnamon stick price
There are many factors that can impact the cinnamon stick price such as supply, demand, SPEC, government policies and even unexpected events. Understanding how it works will help you find and negotiate a decent cinnamon stick price in selling and buying.
Supply factor impacting cinnamon stick price
Cinnamon production in general and cinnamon sticks in particular have significant production and export-import value. As per FAOSTAT, from 2019 to 2020, the cinnamon harvested areas will increase from 274,958 hectares to 277,660 hectares. The total quantity of cinnamon production, despite slightly decreasing, is 223.414 tonnes and 222,122 tonnes, respectively. Despite having a large and stable production quantity, cinnamon prices in general, and the cinnamon stick price in particular, tend to increase more and more in the future because of the outrip of demand factor.
Demand factor impacting cinnamon stick price
Demand for cinnamon sticks has been escalating in recent years. According to TrendEconomy, between 2019 and 2020, the world exports of cinnamon increased exponentially from $573 million to $1.02 billion. Cinnamon prices in general and the cinnamon stick price in particular have a tendency to grow dramatically in the future because of the demand-supply imbalance, and the outrip is the demand amount. It is estimated that the global cinnamon demand exceeds 8 percent to 12 percent of the global cinnamon supply. For anyone wanting to sell and buy cinnamon sticks, pay attention to this point.
SPEC factor impacting cinnamon stick price
Because of the widespread availability and popularity of cinnamon sticks, aesthetics play an important part in setting the cinnamon stick price. The price of cinnamon sticks is directly proportionate to their curvature and thickness, showing that these cinnamon sticks were processed in a number of steps. In terms of thickness, the thinner, the better. When it comes to curvature, the more curved the form, the more expensive the cinnamon stick price. Furthermore, moisture and essential oil concentration are factors that influence the price of cinnamon sticks.
Government policies impacting cinnamon stick price
Government policies mainly impact the cinnamon stick price on tariffs, logistic charges, and taxes. Countries with stable institutions, vibrant economies, and participation in international agreements benefit from greater export tax breaks.
- Vietnam is a typical instance. With the removal of 99 percent tariffs on exports from Vietnam to European countries as a result of large agreements such as EAVFT and CTPP, the price of cinnamon sticks from Vietnam is quite competitive and ideal.
Unexpected events impacting cinnamon stick price
Unpredictable incidents are factors that have the ability to roil market prices in general and the cinnamon stick price in particular. Wars and pandemics are two of them.
- China and India, the world’s biggest exporters and leading importers of cinnamon, are the countries that suffered most severely during the pandemic. The border proximity and logistic stagnation in these countries can lead to an uncertain price or an expensive price for the cinnamon stick price.
- The war between Russia and Ukraine has a high possibility of hallowing the logistic chain all over the world. Therefore, the transportation will be harder, and the cinnamon stick price will be added to the delivery cost.
Top companies providing competitive cinnamon stick price
The section below will provide a list of trustworthy companies providing the best cinnamon stick price.
Hanoi Cinnamon Factory
Hanoi Cinnamon Factory is one of Vietnam’s largest importing and exporting enterprises, is the country’s leading exporter of agricultural commodities in general and cinnamon sticks in paticular. Hanoi Cinnamon guarantees the most attractive cinnamon stick price with a huge storage capacity of up to 21500 tons and the assistance of the Vietnam Ministry of Industry and Trade. With over 20 years of experience under the business philosophy “Quality is King,”. This company has exported up to 80 countries across the world.
Contact:
Phone: +84961504190 (Whatsapp Available)
Website: hncinnamon.com
Email: hanoicinnamon1@gmail.com
Anhui YaoZhiyuan Chinese Herbal Medicine Co., Ltd
Anhui YaoZhiyuan Chinese Herbal Medicine Co., Ltd is a firm situated in Bozhou City, China, which has the world’s largest herb medicine market, and specializes in traditional Chinese items such as cinnamon sticks while complying to the GMP standard. With over 20 years of expertise and a corporate concept of “quality first, service first, brand building,” this firm pledges to give high-quality cinnamon sticks at a reasonable price.
See more: Trusted cinnamon suppliers
Vinapro Group
The Vinapro Group was founded in 2005 with the goal of producing and exporting agricultural products such as cinnamon sticks. The system is closely controlled by Vinapro Factory in accordance with ISO 22000:2005: QA-D/VN/22000/0059 and HACCP: QA-D/VN/HACCP/00. Its primary markets are the United States, the European Union, Japan, China, India, and a few other countries where cinnamon sticks are suited for export. Vinapro, with 16 years of experience, constantly pays attention to the prestige and quality of cinnamon stick goods, bringing the finest cinnamon stick pricing.
To sum up, this piece of article has provided updated information of the cinnamon stick price and the general cinnamon wholesale price. For wholesalers, suppliers and manufacturers, hopefully, this information about cinnamon stick price satisfies you.
