Colombo, June 18 (BAN/ AD): As per Government records cinnamon exports have earned Sri Lanka a whopping Rs.35 billion in foreign exchange. Last year cinnamon exports totaled 17,500 metric tons of according to a government official. This is the largest stock of Cinnamon exported during a single year in the history of the Cinnamon Trade, Export Agriculture Director General Dr. A. P. Heenkanda said. He also added its 13 % increase when compared to exports made in 2017.
The official revealed that locally cinnamon fetches around Rs 2000 per kg. Cinnamon cultivation employs around 1 lakh people and nearly 80,000 acres are under Cinnamon cultivation. According to Dr. Heenkanda, Mexico is the largest importer of Sri Lanka Cinnamon buying 55 percent of cinnamon exports last year.
Cinnamon exports accounted for 54 percent of Sri Lanka’s export agriculture sector earnings last year. Since cinnamon is widely used in medicinal purpose and also stability in world market prices, has increased demand for Cinnamon based products.