By: Staff Writer
January 21, Colombo (LNW): Sri Lanka is implementing geographical indication (GI) for cinnamon, where the country has a 90 percent market share, with 45 farmers and processors being formally recognized in an initiative supported by Washington-based International Finance Corporation, palmation industry ministry sources said.
Sri Lanka cinnamon obtained GI certification in 2022 with support from the UN Industrial Development Organization (UNIDO). The certification provides a competitive advantage, helping increase market differentiation, and allowing for a premium price from the consumer.
“To better position and promote high quality exports of Ceylon Cinnamon, the IFC … recognized the first batch of Geographical Indication (GI) certified Ceylon Cinnamon growers in the country,” the IFC said in a statement.
“We want to better position this unique spice for the authentic, quality it brings by reaching across high-value global markets,” said Alejandro Alvarez de la Campa, Country Manager for IFC Sri Lanka and Maldives.
As part of the project, market research provider Euro monitor International carried out an assessment to identify high-value markets for Ceylon Cinnamon. Australia, Brazil, Germany, UK and the USA were identified as potential markets.
Sri Lanka is establishing a dedicated Department for Cinnamon Development to support the growth and exports of cinnamon. The new department was proposed by President Ranil Wickremesinghe and Plantation Industries Minister Ramesh Pathirana.
President Wickremesinghe highlighted cinnamon’s potential as a valuable economic crop during the 2023 budget announcement. He said that cinnamon is one of Sri Lanka’s most important export crops and that the new department will help to boost the industry and create jobs.
The Department for Cinnamon Development will be responsible for a range of activities, including: providing technical assistance to cinnamon producers, suppliers, and exporters, promoting research and development in the cinnamon industry,marketing cinnamon to new markets and improving product quality and value through diversification.
The establishment of the Department for Cinnamon Development is a welcome move for the Sri Lankan cinnamon industry. The industry has been facing some challenges in recent years, including a decline in exports and competition from other countries. However, the new department is expected to help to address these challenges and boost the industry.
Ceylon cinnamon, which is native to Sri Lanka, is considered to be the finest quality cinnamon in the world. It is known for its delicate flavour and aroma. The new department will help to promote Ceylon cinnamon to new markets and ensure that it continues to be a valuable export crop for Sri Lanka.
