Cinnamon under new brand

Plans are underway to increase cinnamon exports to reach a target of US $ one billion in 2,015, states the Sri Lanka Economic Development Board (EDB). EDB chairman Janaka Ratnayake said that Sri Lanka earned US $ 85 million from cinnamon exports in 2010.

Accordingly a new brand name for Sri Lankan cinnamon products is to be introduced to obtain a better market internationally.

The chairman said that the annual world market demand is around 70 percent for Sri Lankan cinnamon. He said 85 percent of country's annual cinnamon production is exported with USA and Mexico among the leading buyers.

The 'Pure Ceylon Cinnamon' brand similar to the 'Pure Ceylon Tea' brand name will be registered in key markets in North America and Europe.

The newly introduced brand name is expected to enhance the market demand for Sri Lankan cinnamon products. "Cinnamon is currently the dominant spice in Sri Lanka in terms of the foreign exchange earnings," Ratnayake said.

Sri Lanka annually produces 16,000 metric tons of cinnamon in about 31,000 hectares of land. It had provided livelihood for 260,000 families, the chairman added.