H-Mark promotes value added cinnamon products
View(s):A Sri Lankan company is promoting the use of high-value added products from cinnamon, banking on the world-class cinnamon that is produced here.
Sri Lanka is the largest producer of true Cinnamon in the world accounting for about 70 per cent of global production and holding more than 85 per cent of the world market share, the company H-Mark Trading said.
It has introduced a range of products using locally produced cinnamon like Cinnamon Toothpicks, Cinnamon Air Fresheners, Cinnamon Mouthwashes, Cinnamon Massage Oils, etc.
Currently Cliara is the only Cinnamon Air-Freshener which is in the Sri Lankan retail market.
Giving background about the cinnamon market, H-Mark Trading said currently only around 20 per cent of cinnamon is converted into value added forms while cinnamon, which maybe be harvested twice a year, is only harvested once with 10 per cent of that not being peeled.
“Cheap low quality alternatives have begun to enter the global market leading to increased competition. There is an urgent need for increased investment in research and product development for value addition in cinnamon. According to the Spice Council Sri Lanka’s sole export market monopoly commodity, cinnamon, aspires to generate value added export earnings of US$1 billion by 2020,” the statement added.
“People are in need of finer things in life now. Why provide the same type of fragrances for decades? So we thought of providing something different,” noted Pathum Rangana, Sales Executive “Cliara”.