December 28, Colombo (LNW): Sri Lanka’s Cinnamon Development Department has unveiled a plan to significantly increase the country’s annual revenue from cinnamon exports, with a target to double the current earnings of US$ 250 million to US$ 500 million.
Janaka Lindara, the Director General of the Cinnamon Development Department, emphasised that Sri Lanka currently produces around 25,000 metric tonnes of cinnamon annually, exporting approximately 19,000 metric tonnes.
Cinnamon is a major agricultural export for Sri Lanka, with key cultivation areas traditionally located in the southern and southwestern regions, including Galle, Matara, and Hambantota.
To achieve the revenue target, the department has outlined plans to expand cinnamon cultivation into new regions such as Kurunegala, Puttalam, and the Mahaweli zones.
This expansion aims to not only increase production but also diversify the areas in which cinnamon is grown, helping to ensure a steady supply for export.
A significant step towards reaching these goals was marked by the recent signing of a Memorandum of Understanding (MoU) with China, which will facilitate the commencement of cinnamon exports to the Chinese market starting in January 2025.
This partnership is expected to open up new opportunities for Sri Lankan cinnamon producers, with the potential for increased demand from one of the world’s largest markets.
Additionally, the Cinnamon Development Department is focusing on strengthening its presence in the European Union and other global markets, further broadening the reach of Sri Lankan cinnamon.
At present, the vast majority of the country’s cinnamon is exported in its raw form. However, the department is keen to shift towards producing more value-added cinnamon products, such as essential oils, spices, and cosmetics, to enhance foreign exchange earnings.
In a bid to support this transformation, the department is offering resources, training, and incentives to small and medium-sized cinnamon entrepreneurs. The goal is to empower local producers to add value to their products, ensuring greater profitability and market competitiveness.
