This spice looks like dry firewood but is loved by many countries, at the beginning of the year, Vietnam earned 30 million USD

Published Mar 19, 2024

Tridge summary

Vietnam's cinnamon exports have seen a decline of 12.3% in volume and 14.3% in value by the end of February 2024, compared to the same period in 2023, as per the Vietnam Pepper and Spice Association (VPSA). The main export markets, India and the US, have experienced a decrease in volume, while exports to the European market, particularly the UK, have risen. Despite the decline, Vietnam continues to be the global leader in cinnamon, holding 34.4% of the worldwide cinnamon export market share. In 2023, the country also exported 16,136 tons of star anise, primarily to India and China.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to a recent report from the Vietnam Pepper and Spice Association (VPSA), by the end of February 2024, Vietnam had exported 10,472 tons of cinnamon to markets. Total cinnamon export turnover reached 30.0 million USD, down 12.3% in volume and 14.3% in value compared to the same period in 2023. India is the main export market for Vietnamese cinnamon, however compared to the same period, export volume decreased by 30.3%, reaching 3,197 tons. The United States, the second largest export market, also decreased slightly by 0.8%, reaching 1,274 tons. The sign of improvement is that cinnamon exports to the European market recorded an increase of 12.7%, reaching 1,235 tons, especially exports to the United Kingdom increased sharply, reaching 94.4%. The Vietnam Pepper and Spice Association said that with a cinnamon growing area of about 180,000 hectares, mainly in the Northern and North Central mountainous regions..., Vietnam is currently the world leader in cinnamon, with 18.2% in ...

Source: Danviet