Vietnam's cinnamon exports hits over 96.3 million USD in five months

Published 2024년 6월 18일

Tridge summary

In May, Vietnam exported 11,176 tonnes of cinnamon worth 31.1 million USD, with significant increases of 75% in volume and 63% in value from the previous month. Key markets included India, Bangladesh, and the US, with notable surges in exports to Indonesia and China. Over the first five months, total exports were 33,528 tonnes worth 96.3 million USD, slightly down from last year. Efforts to improve farming and processing, supported by trade agreements like the EU-Vietnam FTA and CPTPP, aim to enhance post-harvest processing and expand market presence, particularly in Europe and the US, positioning Vietnam as a leading sustainable cinnamon supplier globally.

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

Original content

Vietnam exported 11,176 tonnes of cinnamon, worth for 31.1 million USD in May, up 75% in volume and 63% in value month-on-month. India, Bangladesh and the US were the three main export markets of Vietnamese cinnamon with 4,514 tonnes, 1,693 tonnes, and 1,043 tonnes respectively. Notably, cinnamon exports to some markets saw a sudden increase in May, for example Indonesia up 600% and China by 513.6%. But over the whole five months the export of cinnamon reached 33,528 tonnes, worth 96.3 million USD, marking modest decreases of 1.1% and 4.4% compared to last year. Hoang Thi Lien, President of the Vietnam Pepper and Spice Association (VPSA), said farmers have been continuously developing new farming techniques to improve the quality and productivity of cinnamon trees. In addition links between the farms and businesses have grown to gradually expand sustainable raw material areas. Vietnam has dozens of companies investing in modern cinnamon processing lines for more quality products ...

Source: WTOCenter