Sri Lanka Sets Sights on US$300 Million Cinnamon Export Target as Alba Grade Prices Soar to Record Rs. 7,500

Sri Lanka is pushing to significantly grow its cinnamon export earnings, setting an ambitious target of US$300 million as domestic prices for the prized Alba grade spice climb to a historic high of Rs. 7,500 per kilogram.

A Milestone for the Spice Industry

The record price achieved for Alba grade cinnamon marks a landmark moment for Sri Lanka's spice sector, reflecting growing global appetite for one of the island nation's most celebrated agricultural exports. Ceylon cinnamon, widely regarded as the world's finest variety, commands premium prices in international markets and remains a cornerstone of the country's agricultural export economy.

Ambitious Export Goals

Industry stakeholders and government officials are rallying behind the US$300 million export revenue target, a figure that would represent a substantial leap from current earnings and signal Sri Lanka's intent to consolidate its position as the dominant global supplier of true cinnamon.

Ceylon cinnamon, known scientifically as Cinnamomum verum, is cultivated primarily in Sri Lanka's Southern and Sabaragamuwa provinces, where generations of farming families have mastered the delicate art of harvesting and processing the spice.

What Is Driving the Price Surge?

The surge in Alba grade prices to Rs. 7,500 per kilogram is being attributed to a combination of factors, including:

• Strong and sustained demand from key import markets in Europe, North America, and Asia
• Limited high-quality supply of the finest Alba grade cinnamon
• Growing consumer awareness of the health benefits associated with Ceylon cinnamon over cheaper alternatives
• A broader global trend towards premium, authentically sourced spices

Ceylon Cinnamon's Global Standing

Unlike the cassia variety commonly sold in many parts of the world, Ceylon cinnamon is prized for its delicate flavour profile, lower coumarin content, and superior quality. Sri Lanka has long leveraged this distinction to market its product at a premium, and the latest price records suggest that strategy continues to bear fruit.

Sri Lanka's cinnamon industry has consistently demonstrated resilience and the capacity for growth, with rising global prices reinforcing the value of the island's unique agricultural heritage.

The Road Ahead

Reaching the US$300 million target will require coordinated efforts across the supply chain, including investment in better farming practices, improved post-harvest processing, stronger branding of the Ceylon cinnamon identity in overseas markets, and policy support from the government to encourage exports. Industry observers note that if momentum is maintained, the target is achievable within a realistic timeframe.

For thousands of smallholder farmers who depend on cinnamon cultivation for their livelihoods, the record Alba prices offer a welcome boost — and fresh hope that Sri Lanka's most iconic spice will continue to command its rightful place at the top of the global market.