Cinnamon

Exports in the First Half of 2023

In the first six months of 2023, Vietnam’s cinnamon export volume reached an impressive 43,186 tons, marking a significant increase of 25.1% compared to the same period in 2022. The total export turnover amounted to 129.2 million USD, representing a slight increase of 0.4% in value.

Key Export Markets

India, the United States, and Bangladesh emerged as the top three export markets for Vietnamese cinnamon, accounting for 67.1% of the total exports. India took the lead with 17,380 tons, experiencing a remarkable growth rate of 35.4%. The United States followed with 5,000 tons, while Bangladesh witnessed a substantial increase of 60.7% with 4,271 tons.

Growing Opportunities and Expansion

Apart from the main export markets, Vietnam also experienced positive growth in cinnamon exports to other countries. China, Egypt, Indonesia, Türkiye, and Poland showcased promising growth potential, opening new doors for Vietnamese cinnamon in the global market.

Vietnam is currently the third-largest cinnamon producer in the world, after Indonesia and China. Vietnam’s cinnamon products are consumed in many markets such as the US, EU, China, India…
The export value of Vietnam’s cinnamon has continuously increased over the years, and in 2022 alone, the export value reached about USD 276 million. The area of cinnamon in Vietnam is about 150,000 hectares, accounting for 17% of the global cinnamon area. Many analyses show that, within the next 10 years, the world organic spice market will grow at least 4.6% per year and reach a total value of USD 15 billion. Particularly for the cinnamon market, from now to 2025, the average growth rate would be 14% per year. This is a great opportunity for Vietnam when cinnamon is a very popular spice in other countries.

Exports in June:

In June alone, Vietnam exported 9,292 tons of cinnamon, generating an export turnover of 28.5 million USD. This marked a 0.8% increase in export volume and a 4.0% increase in turnover compared to May. India and the United States remained the primary export markets, with India accounting for 4,693 tons (50.5% market share) and the United States accounting for 1,122 tons (12.1% market share).

According to statistics, in the first 6 months of 2023, Vietnam exported 43 thousand tons of cinnamon, earning USD 129.2 million. India, the United States and Bangladesh are the 3 main export markets.

According to the Vietnam Pepper Association, in June 2023, Vietnam exported 9,292 tons of cinnamon, the total export turnover reached USD 28.5 million, compared to May, the export volume increased by 0.8%, the export turnover increased by 4.0%.

Currently, India, the United States and Bangladesh are the three main export markets, accounting for 67.1%, of which India ranks first with 17,380 tons, an increase of 35.4%; The United States reached 5,000 tons, a decrease of 4.5%; Bangladesh reached 4,271 tons, an increase of 60.7%. Cinnamon exports also increased in the markets of China, Egypt, Indonesia, Turkey, Poland, etc.

Also according to the Vietnam Pepper Association, in the first six months of 2023, Vietnam exported 43,186 tons of cinnamon, total export turnover reached USD 129.2 million, an increase of 25.1% in volume and an increase of 0.4% in value over the same period in 2022. The average export price of cinnamon in the first six months of 2023 reached USD 2,992/ton, a decrease of USD 737 compared to the same period last year.

Cinnamon

Exports in the First Half of 2023

Key Export Markets

Growing Opportunities and Expansion

Exports in June:

Price List

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