| India is the largest cinnamon export market of Vietnam in the first 9 months of 2023. How to increase the value of cinnamon exports? |
According to the Vietnam Pepper and Spice Association, in December 2023, Vietnam exported 7,443 tons of cinnamon, with a total export turnover of 20.9 million USD, an increase of 3.4% compared to November. India and the United States continued to be the two main export markets for Vietnamese cinnamon, reaching 2,363 tons and 1,113 tons. Prosi Thang Long and Olam Vietnam were the two largest exporters in the month, reaching 998 tons and 581 tons.
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| India and the United States are the two main export markets of Vietnamese cinnamon. |
In general, in 2023, Vietnam exported 89,383 tons of cinnamon, with a total export turnover of 260.9 million USD, an increase of 14.6% in volume but a decrease of 10.7% in value compared to 2022.
The average export price of cinnamon in 2023 reached 2,918 USD/ton, down 22.1% compared to last year.
India is the main export market of Vietnamese cinnamon, accounting for 42.6%, reaching 38,038 tons, up 14.0% over the previous year. Next are the US markets, accounting for 11.4%, reaching 10,163 tons, up 7.0%; Bangladesh, accounting for 6.2%, reaching 5,564 tons, up 32.1%...
The leading cinnamon exporting enterprises in the Vietnam Pepper and Spice Association include: Prosi Thang Long with 13,839 tons, accounting for 15.5%, down 8.4%; Senspices Vietnam with 5,131 tons, accounting for 5.7%, up 39.0%; Son Ha Spices with 4,677 tons, accounting for 5.2%, down 0.7%; Olam Vietnam with 3,445 tons, accounting for 3.9%, down 27.1% and Tuan Minh with 3,115 tons, accounting for 3.5%, down 0.1%.
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