Vietnam has been making significant strides in the global cinnamon export market, with the first half of 2023 witnessing impressive growth. This article explores the latest export figures, key markets.
Exports in the First Half of 2023
In the first six months of 2023, Vietnam’s cinnamon export volume reached an impressive 43,186 tons, marking a significant increase of 25.1% compared to the same period in 2022. The total export turnover amounted to 129.2 million USD, representing a slight increase of 0.4% in value.
Key Export Markets
India, the United States, and Bangladesh emerged as the top three export markets for Vietnamese cinnamon, accounting for 67.1% of the total exports. India took the lead with 17,380 tons, experiencing a remarkable growth rate of 35.4%. The United States followed with 5,000 tons, while Bangladesh witnessed a substantial increase of 60.7% with 4,271 tons.
Growing Opportunities and Expansion
Apart from the main export markets, Vietnam also experienced positive growth in cinnamon exports to other countries. China, Egypt, Indonesia, Türkiye, and Poland showcased promising growth potential, opening new doors for Vietnamese cinnamon in the global market.
Exports in June:
In June alone, Vietnam exported 9,292 tons of cinnamon, generating an export turnover of 28.5 million USD. This marked a 0.8% increase in export volume and a 4.0% increase in turnover compared to May. India and the United States remained the primary export markets, with India accounting for 4,693 tons (50.5% market share) and the United States accounting for 1,122 tons (12.1% market share).
Vietnam’s cinnamon export industry is flourishing, with impressive growth in both volume and value in First Half 2023. The country’s reputation for producing high-quality cinnamon has garnered the attention of major markets such as India, the United States, and Bangladesh. With Visimex’s expertise and commitment to organic agriculture, the future looks bright for Vietnam’s cinnamon exports, promising sustained growth and continued success in the global market.
Discover our products by clicking here
Follow our LinkedIn
