Cinnamon Leaf Oil Market Update

The Cinnamon Leaf Oil market months ago was scarce due to the sudden COVID-19 pandemic. As we move forward through the remainder of 2020, stock availability has re-emerged with price reductions. The initial price increase was attributed by speculations from farmers caused by the government lock-down of Sri Lanka.

With the harvest season continuing to December, the current available inventory is reducing as the harvest season is ending. However, COVID-19 has returned, causing a forced government lock-down in selected areas of Sri Lanka. Product availability has reduced triggering price surges. Alternatively, if COVID-19 subsides, there are no indications for volume shortages or price increases. The next crop season will commence in May 2021, with optimism.