Vietnam’s Cassia Cinnamon Exports: Earning Nearly $200 Million
The Vietnam Pepper Association (VPA) reports that Vietnam’s cinnamon exports brought in around 23 million USD in August. Also, Vietnam has exported an output of 8,186 tons. Still, it’s a 17.1% decrease when compared to last month. This post gives information about Vietnam’s cassia cinnamon exports in 8 first months of 2024.
Vietnam’s Cassia Cinnamon Exports in 8 months of 2024
In the first eight months of this year, Vietnam exported 62,918 tons of cassia cinnamon, bringing in 177 million USD. When compared to the same period the previous year, there was a 1.7% increase in volume. However, it is a 3.5% decline in value.
In terms of markets, India is Vietnam’s largest cinnamon export market with 20,722 tons. But down 24% compared to the same period the previous year. The markets come next: Indonesia reached 4,110 tons, up 121.4%; the US reached 7,399 tons, up 8%. Next, Bangladesh reached 6,238 tons, up 35.2%; and the UAE reached 1,633 tons, up 91.4%.
With an area of about 180,000 hectares, cinnamon farming is today the livelihood of hundreds of thousands of ethnic minority households in remote provinces. While contributing to the socio-economic development of many regions in Vietnam.
There are numerous uses for cinnamon in both production and daily life, such as spice, flavoring, medication, food processor, animal and poultry raiser, and fertilizer. Vietnam now holds the title of having the world’s largest area dedicated to the production of cinnamon bark, with an output estimated to reach 72,000 tons by 2023. After China and Indonesia, Vietnam is now the world’s third-largest producer of cassia and cinnamon.
Havigo Company Limited operates in the field of agricultural export. We wish to bring high-quality Vietnamese agricultural products such as spices, rice, beans, and fruits… to the world. We supply you with high-quality products at the best price. If you find interested in importing Yen Bai Cassia Cinnamon from Vietnam, don’t hesitate to get in touch with us for better support via WhatsApp: +84 979 58 58 56.