📈 Ceylon Cinnamon Expands Agribusiness Jobs and Export Potential

• Market Dominance: Sri Lanka remains the world’s largest producer of Ceylon Cinnamon, holding a massive 80% global market share. The sector supports over 350,000 livelihoods, including 100,000 smallholder growers. • Economic Impact: Agriculture contributes 8.4% to Sri Lanka’s GDP and accounts for 25% of national employment. Experts estimate an untapped export potential of US$ 10 Bn annually, which could generate over 140,000 new jobs through targeted reforms. • Sector Modernization: • Geographical Indication (GI): The first group of GI-labeled growers has been certified, enhancing premium market access. • Inclusion: Specialized training programs have successfully integrated women into the traditionally male-dominated cinnamon peeling trade, boosting rural incomes and self-employment. • Innovation: A new, sustainable cinnamon oil extraction method has been introduced to increase value-added exports. • Strategic Outlook: Supported by the IFC and World Bank, initiatives like "AgriConnect" aim to catalyze US$ 17 Mn in private investment. This focuses on modernizing agribusiness value chains to compete against lower-quality "cassia" varieties in the US$ 34 Bn global spice market projected by 2030.