India buys nearly half of Vietnam's cinnamon exports

According to the Vietnam Pepper and Spice Association (VPSA), in the last month of 2023, Vietnam exported 7,443 tons of cinnamon, worth 20.9 million USD, an increase of 3.4% in volume compared to the month. November 2023. India and the United States continue to be the two main export markets of Vietnamese cinnamon, reaching 2,363 tons and 1,113 tons respectively in December 2023. For the whole year 2023, Vietnam exported 89,383 tons of cinnamon, total export turnover reached 260.9 million USD, an increase of 14.6% in volume and a decrease of 10.7% in value compared to 2022. Cinnamon exports increased in quantity but turnover decreased due to a sharp drop in price. The average export price of cinnamon in 2023 will only reach 2,918 USD/ton, down 22.1% compared to 2022. India is the main export ...