Total cinnamon export turnover in 2023 reached 260.9 million USD which was up 14.6% in volume but down 10.7% in value compared to last year.

According to the Vietnam Pepper and Spice Association (VPSA), in 2023, Vietnam exported 89,383 tons of cinnamon with a total export turnover of 260.9 million USD. This result was up 14.6% in volume but down 10.7% in value compared to 2022.

Cinnamon exports in 2023 reached 260.9 million USD.

The average export price of cinnamon in 2023 was 2,918 USD/ton which was down 22.1% compared to last year. India is the main export market of Vietnam’s cinnamon, accounting for 42.6%, reaching 38,038 tons, up 14.0% over the previous year. Next, the US accounted for 11.4%, reaching 10,163 tons, up 7.0%. Bangladesh accounted for 6.2%, reaching 5,564 tons, up 32.1%.

Regarding imports, Vietnam imported 14,806 tons of cinnamon with a turnover of 37.6 million USD. Compared to the same period in 2022, the import volume decreased by 28.0%. Vietnam imported cinnamon mainly from China and Indonesia, accounting for 81.2% and 12.6%, respectively, reaching 12,017 tons and 1,869 tons.

Vietnam’s star anise exports in 2023 increased by 26%.

In addition to cinnamon, in 2023, Vietnam exported 16,136 tons of star anise with a total export turnover of 83 million USD. Compared to the same period last year, the export volume increased by 26%. The average export price in 2023 reached 6,376 USD/ton, down 8% compared to 2022.

India and China are the two main export markets of Vietnam’s star anise, reaching 7,860 tons and 4,116 tons, accounting for 48.7% and 25.5% of the export market share, respectively.

According to the Ministry of Agriculture and Rural Development, the area of Vietnam’s cinnamon in 2023 was estimated at 180,000 ha. The area of cinnamon has increased in recent years. Due to the high price of cinnamon in 2018, farmers began to expand cinnamon cultivation.

Cinnamon trees are considered as a saving. Farmers will harvest when they need money. However, 2023 was a difficult year so farmers had to harvest cinnamon to make ends meet, leading to the cinnamon harvest in 2023 estimated at 70,000 tons./.

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