Aug 15, Colombo: Sri Lanka has obtained a record income of US$202.5 million from cinnamon exports in 2017, according to the National Cinnamon Research and Training Center under Department of Export Agriculture. It is an increase of 30 percent compared to the previous year.
Sri Lanka has been named as a high-quality cinnamon producer in the world. That's why there is a high demand for Sri Lankan cinnamon in the world market, the Cinnamon Research Center says.
In 2017 Sri Lanka exported 32 percent of global cinnamon exports by value. However, it is only 18 percent of global cinnamon requirement.
Encouraging farmers for cinnamon cultivation and promoting home growing of cinnamon trees have contributed to the increased exports, the institute says.
The high price due to the increase in demand of cinnamon in world market has also contributed to the improvement of the cultivation, according to the National Cinnamon Research and Training Center.
The Center says it implemented a number of programs to further promote cinnamon cultivation.