Cinnamon exports in 2023 will earn 260.9 million USD

According to the Vietnam Pepper and Spice Association (VPSA), in 2023, Vietnam exported 89,383 tons of cinnamon, with a total export value of US$260.9 million, an increase of 14.6% in volume but a decrease of 10.7% in value compared to 2022.

Cinnamon exports generated $260.9 million in revenue in 2023.

The average export price of cinnamon in 2023 reached US$2,918/ton, a decrease of 22.1% compared to the previous year. India was the main export market for Vietnamese cinnamon, accounting for 42.6% with 38,038 tons, an increase of 14.0% compared to the previous year.

Next, the US market accounted for 11.4% with 10,163 tons, an increase of 7.0%; Bangladesh accounted for 6.2% with 5,564 tons, an increase of 32.1%…

The leading cinnamon exporting companies in VPSA include: Prosi Thang Long with 13,839 tons, accounting for 15.5%, a decrease of 8.4%; Senspices Vietnam with 5,131 tons, accounting for 5.7%, an increase of 39.0%; Son Ha Spices with 4,677 tons, accounting for 5.2%, a decrease of 0.7%; Olam Vietnam with 3,445 tons, accounting for 3.9%, a decrease of 27.1%; and Tuan Minh with 3,115 tons, accounting for 3.5%, a decrease of 0.1%.

Regarding imports, Vietnam imported 14,806 tons of cinnamon, worth 37.6 million USD, a decrease of 28.0% compared to the same period in 2022. Vietnam mainly imported cinnamon from China and Indonesia, accounting for 81.2% and 12.6% respectively, reaching 12,017 tons and 1,869 tons.

Along with cinnamon, in 2023, Vietnam exported 16,136 tons of star anise, with a total export value of 83 million USD, a 26% increase compared to the same period last year. The average export price in 2023 was 6,376 USD/ton, a decrease of 8% compared to 2022.

India and China are the two main export markets for Vietnamese star anise, accounting for 7,860 tons and 4,116 tons respectively, representing 48.7% and 25.5% of the export market share.

The leading star anise exporting companies in VPSA include: Prosi Thăng Long with 2,396 tons, accounting for 14.8% of the market share; Nedspice with 1,243 tons, accounting for 7.7%; and Tuan Minh with 550 tons, accounting for 3.4%.

According to a report by the Ministry of Agriculture and Rural Development , the area of ​​cinnamon cultivation in Vietnam in 2023 was estimated at 180,000 hectares. The area of ​​cinnamon cultivation has increased in recent years because the price of cinnamon was high in 2018, so farmers began to expand cinnamon cultivation.

Cinnamon trees are considered by farmers as a form of savings, to be harvested when they need money. However, 2023 was a difficult economic year, forcing farmers to harvest cinnamon to make ends meet, resulting in an estimated cinnamon harvest of around 70,000 tons in 2023.

Source link: https://congthuong.vn/xuat-khau-que-nam-2023-thu-ve-2609-trieu-usd-300545.html