🇱🇰 Sri Lanka Targets US$ 300 Mn Cinnamon Export Earnings Amid Global Demand Surge

The Cinnamon Development Department has presented a new roadmap to Agriculture Minister K.D. Lalkantha to capitalize on growing global demand and boost the cinnamon industry's performance. • Overall Figures & Targets: Sri Lanka currently produces around 80% of the world’s true cinnamon, generating approximately US$ 260 Mn in annual export revenue. The government now targets an increase to US$ 300 Mn annually. • Productivity Potential: Current crop yield stands at around 250 kgs per acre. However, officials note the potential to increase output to 400 kgs per acre through improved cultivation practices and expanding cultivation via intercropping. • Key Challenges: The sector faces stiff competition from cheaper cassia, a reliance on low-value markets, market concentration among a limited number of exporters, inadequate R&D, and weak international branding. • Growth Roadmap: To drive future growth and improve returns for local growers, the strategy stresses expanding into new markets, increasing market penetration, and actively promoting value-added cinnamon products. Progress is also underway on a new Cinnamon Cultural Promotion Centre to support the industry.