Vietnam’s cinnamon export turnover reached nearly 300 million USD in 2022, accounting for 18.2% of the production and 34.4% of the global cinnamon export market share. With this result, Vietnam became the No. 1 exporter of cinnamon in the world…
Cinnamon brings high income to farmers in mountainous areas.
On November 15, 2023, in Hanoi, the Department of Forestry (Ministry of Agriculture and Rural Development), IDH, and the Vietnam Pepper and Spice Association organized the “National Workshop on Sustainable Development of Vietnam’s Cinnamon Industry”. At the same time, the Public Private Partnership (PPP) Group on pepper and spices was launched.
VIETNAM IS THE WORLD’S LEADING EXPORTER OF CINNAMON
Speaking at the opening of the workshop, Mr. Trieu Van Luc – Deputy Director of the Department of Forestry (Ministry of Agriculture and Rural Development) said that Vietnam has the third-largest area of cinnamon cultivation in the world, with 180,000 ha.
Cinnamon growing is currently a livelihood for hundreds of thousands of ethnic minority households in remote provinces and contributes to the socio-economic development of many localities. Cinnamon has many benefits in production and life such as it is a spice, flavoring, a medicine, used for food processing, raising cattle and poultry, or used as a fertilizer…
“The potential advantages of the cinnamon industry have not been adequately promoted. The reason is that the production organization and linkalong the value chain are not available and the planting, care, preliminary processing, and preservation techniques are still weak. Besides, there is a lack of high-quality cinnamon products. In addition to traditional markets such as the US, India, China, and Japan, the quality of cinnamon must be high and meet the No Deforestation Regulation issued by the European Commission (EC) to access the EU market. This is what farmers must pay attention to in the production organization of cinnamon, “said Mr. Trieu Van Luc.
Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper and Spice Association, said that cinnamon is grown mainly in Vietnam, China, Indonesia (Madagascar and Casia varieties), and Sri Lanka (Ceylon varieties). In Vietnam, cinnamon is grown in provinces such as Yen Bai, Lao Cai, Bac Can, Quang Ninh, Quang Nam, Quang Ngai, and Thai Nguyen.
An image of the national workshop on Nov 15, 2023.
In 2022, Vietnam’s cinnamon accounted for 18.2% of the production but 34.4% of the global cinnamon export market share. Vietnam is the No. 1 exporter of cinnamon in the world with a turnover of over 292 million USD.
By the end of October 2023, Vietnam exported 74,744 tons of cinnamon, worth 220.3 million USD. This result was up by 19.2% in volume and 1.3% in value compared to the same period last year. The average export price of cinnamon in 10 months reached 2,948 USD/ton which was down by 17.2% over the same period in 2022. The main export market of Vietnam’s cinnamon is India, accounting for 43.9% of the market share, followed by the US, Bangladesh…
According to Ms. Lien, in Vietnam, some enterprises have invested in modern cinnamon processing plants, especially some FDI enterprises. However, it is still not enough for the whole cinnamon industry./.