Price Drops as Indonesian Cinnamon Faced Oversupply

Published Dec 10, 2021
The wholesale price of cinnamon in Indonesia declined by -1.14% YoY. The price in W2 October 2021 increased by +5.1% YoY to 6.62 USD per KG. High prices did not last long and fell to 6.59 USD per KG in W3 November 2021. Indonesian cinnamon production is projected to increase due to positive factors for growth in 2020. Sadly, the high shipping cost makes the key importers reduce their import of Indonesian cinnamon creating an overflow of cinnamon in the domestic market and leading to price drops.
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