Vietnam Cinnamon Exports Reached 65.2 Million USD
[Update July 11th, 2024] Vietnam makes up 17% of the world’s cinnamon area with an area of roughly 150,000 hectares. Also, Vietnam is the world’s third-largest producer and exporter of cinnamon in terms of output, after Indonesia and China. The main kind of cinnamon from Vietnam is cassia. This post shows data for cinnamon exports from Vietnam in April 2024.
1. Vietnam Cassia Cinnamon exports data
According to data from the Vietnam Pepper and Spice Association (VPSA), in April 2024, Vietnam exported 6,386 tons of cinnamon. The total export turnover reached 19 million USD, an increase of 16.2% in volume compared to March.
The main export markets of cassia cinnamon include India, the US, Bangladesh, Iran and UAE. India is Vietnam’s largest cinnamon export reaching 1,815 tons, an increase of 62.1% compared to March. The United States reached 942 tons, an increase of 2.3%. Bangladesh reached 848 tons, an increase of 32.1%. Iran reached 217 tons, an increase of 267.8%. Lastly, UAE reached 212 tons, an increase of 133%.
Overall, in the first 4 months of the year, Vietnam exported 22,352 tons of cassia cinnamon. The total export turnover reached 65.2 million USD, compared to the same period in 2023. However, export volume decreased by 9.4% and value decreased by 11%.
2. Potential of Cassia products in global markets
Products from cinnamon are increasingly receiving attention and expanding export markets due to changes in consumer awareness of health. Besides, there is a strong development in the pharmaceutical manufacturing industry, functional foods, food processing, cosmetics, and pharmaceutical products globally.
Vietnamese star anise is currently widely consumed throughout the world. The US, countries of the European Union (EU), East Asia (Japan, Taiwan-China, Korea), South Asia (India, Bangladesh), and the Middle East (UAE, Pakistan).
India is a major producer of medicinal herbs and the world’s largest consumer of products containing cinnamon and anise. Currently, Vietnam accounts for over 80% of imports of anise and cinnamon into India. The main supplier of cinnamon products to this market is Vietnam. 32,650 tons of cinnamon were exported by Vietnam in 2022–2023, making up 85% of India’s imports. India is a big fan of Vietnamese cassia cinnamon because of its distinct flavor and high essential oil content.
In the United States, cassia cinnamon is a potential export product of Vietnam. In 2022, Vietnam’s cinnamon export turnover to the US reached about 50 million USD, accounting for 35% of the US’s total cinnamon import turnover. Therefore, we can see that exporting of cassia cinnamon is the potential product of Vietnam in the future.
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