AsemconnectVietnam - Cinnamon exports earned more than 220 million USD in the first 10 months of 2023. However, this industry still lacks a strategic direction for sustainable development at the national level.

According to Vietnam Pepper Association, in October of 2023, Vietnam exported 7,241 tonnes of cinnamon, Vietnam’s total export turnover of cinnamon reached 20.5 million USD, increased by 28.1% compared to September.
In the Asian region, only exports to India decreased by 10.8% to 2,600 tonnes, while the exports to other markets increased sharply such as Indonesia increased by 93.2%; South Korea increased by 225.8%; Pakistan increased by 242%; Bangladesh increased by 900%, etc.
Vietnam's second largest cinnamon export market in October was the United States, reaching 847 tonnes, up by 24% over the previous month.
By the end of October of 2023, Vietnam exported 74,744 tonnes of cinnamon, the total export turnover reached 220.3 million USD, up by 19.2% in volume and down by 1.3% in value over the same period last year.
The average export price of cinnamon in the first 10 months of 2023 reached 2,948 USD/tonne, down by 17.2% compared to the same period of 2022.
The main export markets of Vietnamese cinnamon include India reaching 32,795 tonnes, accounting for 43.9% of the total market share and increasing by 24.7%; The exports to the United States reached 8,379 tonnes, an increase of 11.2%; to Bangladesh reached 4,780 tonnes, an increase of 25.7%; to Brazil reached 2,538 tonnes, an increase of 30.6%; and to Indonesia reached 2,202 tonnes, an increase of 75.7%.
The top 5 cinnamon exporting enterprises in the Vietnam Pepper Association include Prosi Thang Long reaching 11,971 tonnes, down by 3%; Senspices Vietnam reached 4,360 tonnes, an increase of 49.9%; Son Ha Spices reached 3,868 tonnes, down by 5.5%; Olam Vietnam reached 2,551 tonnes, down by 35.8%; Expo Commodities reached 2,483 tonnes, an increase of 61.4%.
CK
Source: VITIC/congthuong.vn