Vietnamese Cinnamon Exports Surged by 19.2% YoY in Oct-23

As of the end of Oct-23, Vietnam has emerged as the leading exporter of cinnamon globally, reaching a turnover exceeding USD 292 million in the first ten months of 2023. During this period, Vietnam exported 74.7 thousand tons of cinnamon, generating revenue of USD 220.3 million. This marked a 19.2% year-over-year (YoY) increase in volume and a slight 1.3% YoY decrease in value. The average export price of cinnamon in Oct-23 was recorded at USD 2,948/ton, a 17.2% YoY decline.

India is the primary export market for Vietnamese cinnamon, constituting 43.9% of the market share, followed by the United States (US) and Bangladesh.