In this article, we will explore the factors influencing cinnamon’s wholesale prices, provide insights on finding reliable suppliers, and offer tips to make informed decisions when purchasing cinnamon in bulk. So let’s dive in!
Table of contents
Recent trends of the cinnamon wholesale price
Traders and business leaders need to closely monitor the fluctuations of the cinnamon market. This step is crucial since it helps them tailor their business plans and anticipate future trends.
See more: Cinnamon sticks – The typical product of a wonderful multi-uses spice
According to Tridge, a website that is famous for providing highly updated data about the global agricultural market, from July 2021, the cinnamon wholesale price is updated as below, with the first line representing Sri Lanka’s cinnamon, and the second one demonstrating the price of Indonesian one. It is clear that the product price has been relatively stable. Sri Lanka’s cinnamon costs over $11 per kilogram and its figure have seen very insignificant change. Meanwhile, changes in the price of Indonesian cinnamon are slightly more notable and it tends to decrease in late 2021 and early 2022, reaching about $6 per kilogram. However, when taking into account the enormous impacts of Covid-19, we can conclude that the cinnamon market still stands strong, proving that it is a field worth being invested in.
Cinnamon wholesale price in major exporting countries
A report from OEC indicated that Vietnam, Indonesia, and Sri Lanka are the three largest exporters of cinnamon in 2019. Therefore, businesses will research cinnamon prices in these countries as an important point of reference.
Vietnam is the big cinnamon exporter
Vietnam was the biggest cinnamon exporter, representing almost a quarter of the world’s total export value. The country’s cinnamon variety is Cassia, which is commercially popular and affordable. In Vietnam, the average cinnamon wholesale price varies depending on different grades and types of products. The specific figures of Cinnamon Vietnamese are listed below:
| Types | USD/ton |
| Tube cinnamon skin A | 5217-6522 |
| Tube cinnamon skin B | 4173-5217 |
| Tube cinnamon skin C | 3478-4348 |
| Tube cinnamon without skin A | 5567-6959 |
| Tube cinnamon without skin B | 4861-6077 |
| Stick cinnamon | 3930-4913 |
| Cigarette cinnamon | 4173-5217 |
| Split cinnamon | 2260-2826 |
| Broken cinnamon | 1565-1957 |
| Cinnamon powder | 5217-6522 |
Compared to Sri Lanka and Indonesia, Cinnamon Vietnamese price is slightly lower, while the product tends to have a higher essential oil content. This is amazing news to importers from other markets, as they can obtain high-quality products without worrying about exceeding their budget.
Additionally, cinnamon wholesale price in Vietnam is likely to remain stable due to its plentiful supply. FAOStat showed that in 2020, it yielded more than 31,000 tonnes of cinnamon, making it one of the four major cinnamon producers. As Vietnamese farmers become more skillful and obtain more modern equipment for cultivating cinnamon, the country’s cinnamon yield is projected to continue being substantial.
Indonesia major cinnamon supplier
Indonesia’s cinnamon wholesale price is also a major concern for traders, as this country is the largest cinnamon producer in 2020. It also has a large network of big clients, from the USA to European countries such as the Netherlands, Germany, and France.
The price is presented in the line graph below, which demonstrates changes in Indonesian cinnamon price from July 2021 to early 2022. Despite a significant drop in December 2021, which can be attributed to Covid-19, the price has recovered. Even at its lowest point, the price still stood at close to $6 per kilogram – a beneficial figure for traders that guarantees a profit.
Sri Lanka dominate the Ceylon cinnamon market
Sri Lanka dominated the global Ceylon market, has long been the leading supplier of this product. The country accounted for around 85% of the global Ceylon market. Companies and businessmen interested in reselling Ceylon products, therefore, are keen on learning about cinnamon wholesale prices in this country as well.
Each type of Sri Lanka’s cinnamon has its corresponding price. Alba is the most expensive product, it costs above $17 per kilogram, almost three times as high as Vietnamese and Indonesian Cassia. Though expensive, Ceylon cinnamon is preferred in various consumer markets due to its mild and sweet flavor. As a result, many business leaders believe they can expand their profits notably when investing in this product.
Things you should know about cinnamon wholesale price
The price difference between Ceylon and Cassia cinnamon and several factors that affect the cinnamon wholesale price is essential knowledge for business leaders.
Future trends of wholesale cinnamon price
After a period of slight decrease due to the massive influences of the Covid-19 pandemic, the wholesale price of cinnamon has stabilized again. In the future, when the world adapts to a post-Covid era and production is streamlined again, we can expect the price to be steady and increase. This trend is explained by both the recovery of the supply chain and the growing demand of customers who are more concerned about taking care of their health.
Ceylon and Cassia cinnamon have different prices
To compare Vietnamese cinnamon and Ceylon, the wholesale price of Ceylon is much higher than its Cassia counterpart. This notable difference can be explained by the fact that the manufacturing process in Sri Lanka is largely manual and cinnamon cultivation areas are still scattered. As a result, the supply of Ceylon cinnamon is limited, which adds to its price. Meanwhile, countries like China, Indonesia, and Vietnam have large and highly centralized cinnamon-growing areas, as well as modern factories and well-trained workers. Therefore, they have extremely abundant supplies of cinnamon and a more affordable cinnamon wholesale price.
Factors influencing cinnamon wholesale price
A sufficient knowledge about which factors affect the cinnamon wholesale price is essential for traders and merchants. It helps them understand and predict market trends, thus minimizing risk when investing their money in the product.
- Cinnamon supply
A report from World’s Top Exports indicated that during the 2019-2020 period, the volume of exported cinnamon products surged by almost 35%, despite the impact of Covid-19. This development proves that the supply of cinnamon remains high and is still rising. Traders, hence, can expect the cinnamon market to be stabilized and highly profitable.
- Growing demand
In 2019, the global import value of cinnamon was $748M, which was an increase of more than 60% compared to 2014. This impressive growth proves that the global demand for cinnamon products is still rising strongly, implying a golden opportunity for interested traders.
- Policies of the government
In recent years, a large number of bilateral and multilateral trade agreements have been signed among countries and international organizations, with an aim to foster mutual development. The trading of cinnamon has also benefited greatly from these deals, since the cinnamon wholesale price is decreased when there are fewer legal barriers.
- Covid-19 pandemic
Indeed, the pandemic has had strong effects on the trading of cinnamon and its price in particular. As countries close down their borders and divert consumer goods to domestic use, the cinnamon wholesale price also suffers and decreases. However, the drop was not too dramatic and still allows traders to gain a profit, since cinnamon itself is a highly practical product that can be stored for a long time. Therefore, merchants do not have to worry too much about the cinnamon market being seriously disrupted by Covid-19.
Popular cinnamon suppliers and their cinnamon wholesale price
The list below provides the names of the three reputable cinnamon suppliers. They provide a large variety of products and their cinnamon wholesale price is also reasonable.
Hanoi Cinnamon Company
Founded in 1996, Hanoi Cinnamon has been a leading name in Vietnam’s cinnamon market. The company aims to be a top provider of cinnamon and other agricultural products. It has modern factories with fresh supplies of raw materials and a large group of skillful workers. Its supporting staff is always willing to help and provide helpful advice to its clients.
International clients appreciate that Hanoi Cinnamon provides a clear and reasonable policy on its cinnamon wholesale price. Therefore, it has previously worked with major companies from the USA, Europe, and Asia.
Contact Hanoi Cinnamon via:
- Phone: +84961504190 (Whatsapp Available)
- Website: hncinnamon.com
- Email: hanoicinnamon1@gmail.com
VINASAMEX
Vinasamex is a familiar name to importers around the world. The company is widely known for its extensive experience, its high-quality organic products, and reasonable cinnamon wholesale price.
Compared to various other Vietnamese companies, the price offered by Vinasamex might be higher. However, since its products all have organic certificates and are under strict quality control procedures, this price is certainly worthy.
Lak Cinnamon
Lak Cinnamon is a major provider of Ceylon products based in Sri Lanka. The company’s supply is both abundant and of excellent quality. Therefore, Lak Cinnamon is a trusted choice of buyers from around the world, though its offered cinnamon wholesale price can be significantly higher than companies that sell Cassia products.
Conclusion
To get the latest, most updated news about cinnamon wholesale price, Hanoi Cinnamon Company is a trusted point of contact. Visit our website https://hncinnamon.com/ or contact us via +84961504190 (Whatsapp available) to start your conversation with our dedicated supporting staff today
