Asia is the largest cinnamon import market of Vietnam.

According to preliminary statistics of the Vietnam Pepper and Spice Association (VPSA), Vietnam's cinnamon imports in July 2024 reached 245 tons with a turnover of 0.7 million USD, down 13.1% in volume compared to June.

In terms of market structure, Asia is the largest cinnamon import market of Vietnam. In which, Indonesia and China are the two leading countries supplying cinnamon to Vietnam, reaching 148 tons and 54 tons.

In the first 7 months of the year, our country imported 2,979 tons of cinnamon, with a turnover of over 7.1 million USD, compared to the same period last year, the import volume decreased by 75.2%. Of which, imports from Indonesia reached 1,299 tons and imports from China reached 1,242 tons.

Indonesia and China are the two main countries supplying cinnamon to Vietnam, reaching 148 tons and 54 tons.

In Vietnam, cinnamon is distributed throughout the country. However, the four most concentrated cinnamon growing areas are Yen Bai, Quang Ninh, Thanh Hoa - Nghe An and Quang Nam - Quang Ngai. In addition, each region may have different names such as: Yen Bai cinnamon, Quy cinnamon, Quang cinnamon, May cinnamon (Tay)... Vietnam's cinnamon bark reserves are estimated at 900,000 - 1,200,000 tons, with an average harvest of 70,000 - 80,000 tons/year. Vietnam is also the world's number 1 cinnamon exporter with a turnover of over 292 million USD in 2022.

According to the Vietnam Pepper and Spice Association, cinnamon is mainly grown in Vietnam, China, Indonesia, the Casia variety and Madagascar, and Sri Lanka, the Ceylon variety. Cinnamon cultivation is currently the livelihood of hundreds of thousands of ethnic minority households in remote provinces, while contributing to the socio-economic development of many localities.

Cinnamon has many uses in production and life such as being used as a spice, flavoring, medicine, used to process food, raise livestock and poultry or used as fertilizer...

Vietnam is a country with diverse medicinal resources, many of which are precious and rare. However, this is not a source of goods with high export turnover. The main reason is that there is no planning for the development of medicinal plants in Vietnam, which is spontaneous, especially because there is no specific output, so there is still a situation of destruction due to lack of consumption.

In 2023, Vietnam exported nearly 90,000 tons of cinnamon, with a total export turnover of more than 260 million USD, an increase of 14.6% in output but a decrease of 10.7% in value compared to 2022. Vietnam's main export markets in 2023 are India, the US, Bangladesh, etc.

The world's demand for spices remains high, not only in the food industry but also continues to be researched and developed for application in the pharmaceutical, cosmetic, and functional food industries. Vietnam has dozens of companies investing in modern cinnamon processing lines, producing ground cinnamon and powdered cinnamon to meet market demands.

According to statistics, Vietnam's cinnamon growing area is up to 180,000 hectares in the northern mountainous provinces and the North Central region. Vietnam's cinnamon bark reserves are estimated at about 900,000 - 1,200,000 tons, with an average harvest of 70,000 - 80,000 tons/year. Vietnam is also the world's number 1 cinnamon exporter with a turnover of over 292 million USD in 2022.

However, in addition to domestic production, our country also imports a quantity of cinnamon from neighboring countries for export.

Source: https://congthuong.vn/chau-a-la-thi-truong-nhap-khau-que-lon-nhat-cua-viet-nam-340309.html