India, US are two main export markets of Vietnamese cinnamon

Friday, 12/01/2024 11:15
In 2023, India and the US are the two main export markets of Vietnamese cinnamon, of which India accounts for 42.6% and the United States accounts for 11.4%.

According to the Vietnam Pepper and Spice Association, in December 2023, Vietnam exported 7,443 tons of cinnamon, valued at 20.9 million USD. The volume increased by 3.4% compared to from the previous month. India and the US continue to be the two main export markets of Vietnamese cinnamon with 2,363 tons and 1,113 tons, respectively. Prosi Thang Long and Olam Vietnam are the two largest export enterprises this month, with 998 tons and 581 tons, respectively.

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India, US are two main export markets of Vietnamese cinnamon. (Photo: congthuong.vn)

In 2023, Vietnam exported 89,383 tons of cinnamon, worth 260.9 million USD, an increase of 14.6% in volume and a decrease of 10.7% in value compared to the previous year.

The average export price of cinnamon in 2023 reached 2,918 USD a ton, down 22.1% against 2022.

India is the main export market of Vietnamese cinnamon, with 38,038 tons, accounting for 42.6% of the total, an increase of 14% over the previous year. It was followed by the US market with 10,163 tons, accounting for 11.4; Bangladesh with 5,564 tons, accounting for 6.2%.

The leading cinnamon exporting enterprises in the Vietnam Pepper and Spice Association include: Prosi Thang Long with 13,839 tons, accounting for 15.5%; Senspices Vietnam with 5,131 tons (5.7%), Son Ha spices with 4,677 tons, (5.2%); Olam Vietnam with 3,445 tons (3.9%) and Tuan Minh with 3,115 tons (3.5%)./.

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