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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Ceylon cinnamon certification

Ceylon cinnamon certification

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1Ceylon cinnamon certification Empty Ceylon cinnamon certification Tue Aug 12, 2014 8:03 pm

Market R

Market R
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sri Lanka launches Ceylon cinnamon certification to promote exports


Aug 11, 2014 (LBO)- Sri Lanka has launched an internationally accredited certification for cinnamon, its main spice export, aiming to uplift an image like its main export, Ceylon tea, and exploit growing in global market.

The ‘Pure Ceylon Cinnamon Global Certification” is also registered in key markets of USA, EU, Peru and Colombia, said Rishad Bathiudeen Minister of Industry and Commerce.

“Sri Lanka exports good quality products to international markets and maintains its high quality,” he was quoted a news conference at the certification’s launch.

“The issuance certificates therefore, is yet another focussed step to secure Sri Lanka brand in global markets.”

The spice exports have grown steadily and between May and June this year, the sector grew by 22 percent to 49.48 million dollars, Ministry of Industry and Commerce said in a press release.

Sri Lanka exports earning grew 6.2 percent to 10.38 million US dollars in 2013 while earning from Spices have increased by 39.87 percent, Export Development Board data showed.

Earnings from exports of Cinnamon which accounted for 39.28 percent of the Spices sector increased by 2.21 percent.

Sri Lanka exports cinnamon to USA, Mexico , Peru and Colombia majorly.

Bathiudeen said problems have been encountered due to inferior cinnamon in international markets, coming from other countries, creating a risk of losing Sri Lankan brand identity in the international arena.

The certificate will help the island increase exports to a targeted 15 billion US dollars by 2015 with the spice sector expected contribute about a billion dollar while securing the brand quality in the global market.

About 13 Lankan cinnamon exporter firms including A Baur & Co, Casa Canela, Devi Trading Company, Dtriangle, Food & Nature, GPDe Silva & Sons International, Intercom (Private) Ltd, International Commodity Traders, JP Products, Mohksha Limited, New Rathna Producers Cinnamon Exports, PD Romanis & Sons, and Spicing Lives , have already fulfil the required criteria and awarded the certification at the launch.


“During the last five years our true Cinnamon exports have been seeing an increasing trend due to the high demand for it in global markets.”

“Today we are witnessing a five year high in first half exports of this year at 5.4 billion dollars which is provisional.

This is a huge increase of 54 percent from, year 2010 first half exports of 3.7 billion dollars,” Bathiudeen said.

“Therefore, we have to pay special attention to develop Pure Ceylon cinnamon in the international market.”

2Ceylon cinnamon certification Empty Re: Ceylon cinnamon certification Fri Aug 15, 2014 4:07 pm

VALUEPICK

VALUEPICK
Expert
Expert
Cinnamon is one of the emerging commodities in the world along with Tea. There is a good demand for quality Cinnamon. I think some Tea plantation companies have began planting cinnamon and fruit projects in their bare land in addition to their timber dendro power (gliricidia) projects.

http://www.cinnamontotheworld.com/about.php

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