Vietnam maintains a strong position in the global cinnamon import, with Indonesia as its primary import partner. Preliminary data from the Vietnam Pepper and Spice Association (VPSA) shows that in September 2024, Vietnam imported 216 tons of cinnamon valued at $9 million, a slight 0.5% drop from the previous month. Indonesia supplied the largest share, contributing 146 tons and capturing 67.6% of the market.
Over the first nine months of 2024, Vietnam’s cinnamon imports totaled 3,448 tons, worth $8.3 million, reflecting a 74% decline in volume and a 76% decrease in value from the previous year. Meanwhile, exports rose, with Vietnam shipping 69,350 tons from January to September 2024, a 2.7% increase, although export value decreased by 2.8% to $194.2 million. Leading exporter Prosi Thang Long shipped 9,999 tons, accounting for 14.4% of the market.
Vietnam’s cinnamon-growing regions cover over 180,000 hectares in northern mountainous and North Central Coast provinces, including key areas like Yen Bai and Lao Cai. With cinnamon bark reserves between 900,000 to 1.2 million tons and annual harvests of 70,000 to 80,000 tons, Vietnam remains the world’s top cinnamon exporter, with a turnover exceeding $292 million in 2022.
In 2023, Vietnam exported nearly 90,000 tons of cinnamon, holding 34.4% of the global export market. Major buyers include India, China, Bangladesh, and the US. Although output grew by 14.6%, export value fell by 10.7%, reflecting global price fluctuations.
Cinnamon, particularly the cassia variety, is widely cultivated in Vietnam, China, and Indonesia. Supporting hundreds of thousands of ethnic minority households, Vietnam’s cinnamon industry significantly boosts regional socio-economic development. As global demand grows, especially in pharmaceuticals, cosmetics, and functional foods, Vietnam has invested in modern processing facilities to meet market demands.
Today, Vietnam exports cinnamon to nearly 100 countries, controlling 95% of the Indian market, 36.5% in the US, and 35% in Europe. However, processed cinnamon exports are relatively low, making up only 18.6% of total exports, with 70% going to the US and 12% to Europe.
IMEX SECTOR | EU, Cyprus Expand Electric Vehicle Trade with Rising Imports and Exports
