Tuesday, 09/07/2024 11:36 (GMT+7)
Vietnam imported 443 tons of cinnamon in May with a turnover of 1 million USD, an increase of 18.8% in volume from the previous month, according to statistics from the Vietnam Pepper Association (VPA).
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| Photo for illustration. (Source: congthuong.vn) |
Asia is Vietnam’s largest cinnamon import market, of which Indonesia and China are the two main cinnamon suppliers, with 308 tons and 96 tons, respectively.
In the first five months of the year, Vietnam imported 2,452 tons of cinnamon with a turnover of 5.7 million USD, down 75.2% in volume and 77.3% in turnover from the same period last year. Notably, China has risen to become the main supplier to Vietnam with 45.8%.
Meanwhile, Vietnam exported 33,528 tons of cinnamon with a total turnover of more than 96 million USD, down 1.1% in volume and 4.4% in turnover from the same period last year.
In Vietnam, cinnamon is distributed in almost all regions of the country. There are four concentrated cinnamon growing areas: Yen Bai, Quang Ninh, Thanh Hoa - Nghe An and Quang Nam - Quang Ngai.
Vietnam’s cinnamon bark reserves are estimated at about 900,000 – 1.2 million tons, with the average harvest yield of 70,000 - 80,000 tons a year. Vietnam is also the biggest cinnamon exporter in the world with a turnover of over 292 million USD by 2022.
According to the Vietnam Pepper and Spice Association, cinnamon is grown mainly in Vietnam, China, Indonesia and Sri Lanka. Cinnamon growing is currently a livelihood for hundreds of thousands of ethnic minority households in remote areas, and contributes to the socio-economic development of many localities./.
BTA