A Vietnamese spice conquers two major markets in the world, exporting more than 260 million USD

In 2023, India and the United States are the two main export markets for Vietnamese cinnamon, of which India accounts for 42.6% and the United States accounts for 11.4%.

Một loại cây gia vị của Việt Nam chinh phục 2 thị trường lớn của thế giới, xuất khẩu hơn 260 triệu USD

In total, in 2023, Vietnam exported 89,383 tons of cinnamon, with a total export turnover of 260.9 million USD. (Source: VNE)

According to the Vietnam Pepper and Spice Association, in December 2023, Vietnam exported 7,443 tons of cinnamon, with a total export turnover of 20.9 million USD, an increase of 3.4% compared to November. India and the United States continued to be the two main export markets for Vietnamese cinnamon, reaching 2,363 tons and 1,113 tons. Prosi Thang Long and Olam Vietnam were the two largest exporters in the month, reaching 998 tons and 581 tons.

In general, in 2023, Vietnam exported 89,383 tons of cinnamon, with a total export turnover of 260.9 million USD, an increase of 14.6% in volume but a decrease of 10.7% in value compared to 2022.

The average export price of cinnamon in 2023 reached 2,918 USD/ton, down 22.1% compared to last year.

India is the main export market of Vietnamese cinnamon, accounting for 42.6%, reaching 38,038 tons, up 14.0% over the previous year. Next are the US markets, accounting for 11.4%, reaching 10,163 tons, up 7.0%; Bangladesh, accounting for 6.2%, reaching 5,564 tons, up 32.1%...

The leading cinnamon exporting enterprises in the Vietnam Pepper and Spice Association include: Prosi Thang Long with 13,839 tons, accounting for 15.5%, down 8.4%; Senspices Vietnam with 5,131 tons, accounting for 5.7%, up 39.0%; Son Ha Spices with 4,677 tons, accounting for 5.2%, down 0.7%; Olam Vietnam with 3,445 tons, accounting for 3.9%, down 27.1% and Tuan Minh with 3,115 tons, accounting for 3.5%, down 0.1%.

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