Strong Performance Despite Decline in Volume

Vietnam’s cinnamon exports are continuing their global expansion, with key markets like India, the United States, and Bangladesh leading the charge. In the first four months of 2024, the country exported 22,352 tonnes of cinnamon, generating a turnover of USD 65.2 million. Although these figures represent a slight dip compared to the same period in 2023—with export volume down by 9.4% and value decreasing by 11%—Vietnamese exporters have successfully maintained a steady supply to meet international demand.

India, U.S., and Bangladesh: Major Markets

India remains the top destination for Vietnamese cinnamon, importing 6,132 tonnes, which makes up 27.4% of Vietnam’s total cinnamon exports. Despite a 32.9% drop in volume from last year, India’s role as a major importer remains crucial.

The United States takes second place, importing 3,137 tonnes or 14% of the total export volume. Notably, U.S. demand grew by 13.9% compared to last year. Bangladesh comes in third, importing 2,042 tonnes, about 9.1% of total exports, though demand from Bangladesh has dropped by 34.8% year-on-year.

Expanding Opportunities in Emerging Markets

Vietnam’s cinnamon is also making headway in emerging markets like Iran and the UAE. Iran imported 217 tonnes, reflecting an impressive 267.8% surge, while the UAE bought 212 tonnes, marking a 133% increase over March 2024. These figures underscore the growing global reach of Vietnamese cinnamon, as exporters tap into new markets.

Even with slight declines in overall volume and value, Vietnam continues to play a significant role in the global cinnamon trade. Leading exporters, including Vinapro, are focusing on maintaining consistent supply chains to meet the needs of their international partners.

Conclusion: Stable Outlook for Vietnamese Cinnamon Exports

Despite challenges, Vietnamese cinnamon remains a dominant force in the global spice market. With strong ties to established markets and significant growth in emerging regions, the future of Vietnam’s cinnamon trade looks bright.

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