The Department of Agriculture has reported a significant drop in cinnamon prices in the Sri Lankan market. Specifically, Alba cinnamon, recognized as the highest grade of Ceylon cinnamon, has experienced a notable reduction in its market value.
As per the latest information from the Department of Agriculture, one kilogram of Alba Cinnamon is currently priced between Rs. 4,800/- to Rs. 5,000/-, indicating a decline of Rs. 500/-. This price shift has raised concerns, especially given the importance of cinnamon cultivation as the primary livelihood for residents in the Katuwana and Walasmulla areas of the Hambantota district.
The sluggish sale of cinnamon has contributed to the economic challenges faced by individuals involved in the industry at the grassroots level, highlighting the need for attention and support to address the issues arising from the drop in cinnamon prices.
