The pungent peel taken from the vast variety of crops grown in Lao Cai and Yen Bai, Vietnam is sold at a high price, higher than China and India

Updated Dec 12, 2021
That's the information Mr. Vo Kim Cuong - representative of the Great Project research team gave at the Vietnam cinnamon sustainable development conference organized by the General Department of Forestry (MARD) and the Sustainable Trade Initiative (IDH). held on the afternoon of December 10. "The average export price of Vietnamese cinnamon is about 40 USD/kg, higher than the price of cinnamon in China and Indonesia," said Mr. Cuong.
According to Mr. Nguyen Van Dien (Director of Forestry Production Development Department, General Administration of Forestry), by 2020, the cinnamon area in Vietnam will reach about 150,000 hectares. Cinnamon bark is the main product, currently bringing 76% of revenue from the cinnamon forest. Vietnam's cinnamon bark reserves are estimated at about 900,000 - 1,200,000 tons, the average output is about 70,000 - 80,000 tons/year. Cinnamon export value in 2020 reached 245.4 million USD, it is expected that in 2021 cinnamon export value will reach about 291.8 million USD, an increase of nearly 20% compared to 2020. Vietnam cinnamon products are consumed. on most markets like; USA, EU, Middle East, Japan, China, India... Particularly in India, 80% of the country's imported cinnamon output comes from Vietnam. Notably, Mr. Dien said, the demand for cinnamon essential oil in the world is very large and is always at a level where supply cannot meet demand. Profits from distilling cinnamon ...
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