According to Vietnam Pepper and Spice Association (VPSA), in 2023, Vietnam exported 89,383 tons of cinnamon, total export turnover reaching 260.9 million USD, an increase of 14.6% in volume but a decrease of 10,7% in value compared to 2022.
Average export price of cinnamon in 2023 reached 2,918 USD/tonnes, down 22.1% compared to last year. India is the main export market of Vietnamese cinnamon, accounting for 42.6% reaching 38,038 tonnes, an increase of 14.0% over the previous year.
Next is the US market accounting for 11.4% reaching 10,163 tonnes, an increase of 7.0%; Bangladesh accounted for 6.2% reaching 5,564 tonnes, an increase of 32.1%.
The leading cinnamon exporting enterprises in VPSA include: Prosi Thang Long reaching 13,839 tonnes, accounting for 15.5%, down 8.4%; Senspices Vietnam reached 5,131 tonnes, accounting for 5.7%. increased by 39.0%; Son Ha spices reached 4,677 tonnes, accounting for 5.2%, down 0.7%; Olam Vietnam reached 3,445 tonnes, accounting for 3.9%, down 27.1% and Tuan Minh reached 3,115 tonnes, accounting for 3.5%, down 0.1%.
Regarding imports, Vietnam imported 14,806 tonnes of cinnamon, turnover reached 37.6 million USD, compared to the same period in 2022, the import volume decreased by 28.0%. Vietnam imports cinnamon mainly from China and Indonesia, accounting for 81.2% and 12.6%, reaching 12,017 tonnes and 1,869 tonnes, respectively.
Along with cinnamon, in 2023, Vietnam exported 16,136 tonnes of star anise, total export turnover reaching 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/tonne, down 8% compared to 2022.
India and China are the two main export markets of Vietnamese anise, reaching 7,860 tonnes and 4,116 tonnes, accounting for 48.7% and 25.5% of the export market share, respectively.
The leading exporters of anise in VPSA include: Prosi Thang Long reaching 2,396 tonnes, accounting for 14.8% market share; Nedspice reached 1,243 tonnes, accounting for 7.7% and Tuan Minh reached 550 tonnes, accounting for 3.4%.
According to a report from Ministry of Agriculture and Rural Development, area of Vietnamese cinnamon in 2023 is estimated to reach 180,000 hectares. Cinnamon acreage has increased in recent years because cinnamon prices were high in 2018, so farmers began to expand cinnamon cultivation.
Cinnamon trees are considered by farmers as a saved asset, they will be harvested when they need money. However, 2023 is a difficult economic year, so farmers are forced to harvest cinnamon to make ends meet, leading to the cinnamon harvest in 2023 estimated at about 70,000 tonnes.

Source: Vitic/ congthuong.vn