Costa Rica: Cinnamon Market 2025

Cinnamon Market Size in Costa Rica

The Costa Rican cinnamon market totaled $X in 2022, picking up by 1.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed buoyant growth. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Cinnamon Exports

Exports from Costa Rica

Cinnamon exports from Costa Rica surged to X tons in 2022, rising by 27% against 2021 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 98%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, cinnamon exports soared to $X in 2022. Overall, exports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2020 with an increase of 78%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons), Panama (X tons) and Nicaragua (X tons) were the main destinations of cinnamon exports from Costa Rica, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +28.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X) remains the key foreign market for cinnamon (canella) exports from Costa Rica, comprising 64% of total exports. The second position in the ranking was taken by Panama ($X), with a 29% share of total exports. It was followed by Nicaragua, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador amounted to +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+32.8% per year) and Nicaragua (-19.5% per year).

Export Prices by Country

In 2022, the average cinnamon export price amounted to $X per ton, waning by -7.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2017 an increase of 22%. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into Costa Rica

In 2022, approx. X tons of cinnamon (canella) were imported into Costa Rica; increasing by 4% on the previous year. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.5% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 49%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cinnamon imports expanded remarkably to $X in 2022. In general, imports showed strong growth. The pace of growth was the most pronounced in 2017 with an increase of 102% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of cinnamon to Costa Rica, accounting for a 36% share of total imports. Moreover, cinnamon imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was taken by Indonesia (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.3% per year) and Indonesia (-6.0% per year).

In value terms, the United States ($X) constituted the largest supplier of cinnamon (canella) to Costa Rica, comprising 40% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 13% share of total imports. It was followed by Spain, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+10.1% per year) and Spain (+16.1% per year).

Import Prices by Country

In 2022, the average cinnamon import price amounted to $X per ton, leveling off at the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cinnamon import price decreased by -1.3% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 36%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Guatemala ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform