Ceylon Cinnamon to get new look today

Tuesday, 28 June 2011 01:01 - - {{hitsCtrl.values.hits}}

Sri Lanka will get its own identity starting today with the unveiling of a new ‘lion logo’ which will represent the country’s cinnamon products under the brand name ‘ Ceylon Cinnamon’ going down the same line as the much popular ‘Ceylon Tea’ logo in the international market.

The logo, which received President’s approval early this year, is known as the only trade of Sri Lanka which holds the monopoly power in the global trade market. The logo will be unveiled today evening at the Presidential Export Awards at Temple Trees by President Mahinda Rajapaksa amidst leading exporters of the country. The new look would be a good marketing tool for the industry to further their presence in the global market.

Botanically named as Cinnamomum zeylanicum, Ceylon cinnamon is the largest imported cinnamon in the world even with a higher price than its competitors from China and Indonesia. The branding is a necessary tool in expanding the country’s penetration in the global trade and will help decrease the number of false products being exported as cinnamon from Sri Lanka.

“It is important to have our own brand name as the threat from the low quality Cinnamomum cassia is increasing in the market,” Chairman of Export Development Board (EDB) Janaka Rathnayake said. “It has been identified that 90% of world cinnamon comes from Sri Lanka.” The new logo has been created to retain the industry hold while promoting the spice. The logo has been put forward by a local company, he said.

The trade brought in a revenue of USD 83 million in 2010. Cinnamon exports to EU was valued at USD 4.91 million in 2010, a 15% increase since 2009 (USD 4.24 million) and product exports to USA was USD 9.89 million, a 28% increase from the previous year (USD 7.74 million)