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VIETNAM: THE TOP CINNAMON/CASSIA EXPORTER
|Dec 11,2023

Vietnam is the third country in the world in cinnamon output, accounting for 17% and is the number 1 cinnamon exporter in the world with a turnover of 292.2 million USD.


Vietnam is the third country in the world in cinnamon output, accounting for 17% and is the number 1 cinnamon exporter in the world with a turnover of 292.2 million USD.


On November 15, the Department of Forestry (Ministry of Agriculture and Rural Development), Vietnam Pepper and Spice Association organized a National Workshop on sustainable development of Vietnam's cinnamon industry; At the same time, launching the Public Private Partnership (PPP) Working Group on pepper and spices, and the cinnamon industry subcommittee.


At the conference, Deputy Director of the Forestry Department Trieu Van Luc said that currently the whole country has about 180,000 hectares of cinnamon growing, mainly in the Northern mountainous and North Central regions... Cinnamon growing is the livelihood of hundreds of thousands of households. ethnic minorities in remote areas, contributing to the socio-economic development of many localities.


Cinnamon has many uses in production and life, such as being used as a spice, flavoring, medicine, food processing, raising livestock and poultry or used as fertilizer...


According to the Vietnam Pepper Association, by the end of October 2023, Vietnam exported 74,744 tons of cinnamon with a value of 220.3 million USD, an increase of 19.2% in volume, but a decrease of 1.3% in value compared to the same period last year. The average export price of cinnamon in 10 months reached 2,948 USD/ton, down 17.2% over the same period last year. The main import market of Vietnamese cinnamon is India, accounting for 43.9% of the market share; Next is America, Bangladesh...




According to President of the Vietnam Pepper and Spice Association Hoang Thi Lien, by 2022, Vietnam will be the 3rd country in the world in cinnamon output, accounting for 17%, and the number 1 cinnamon exporter in the world with millions of dollars. quota reached 292.2 million USD. Currently, some businesses are investing in modern cinnamon processing factories, especially some FDI enterprises, but this is not enough compared to Vietnam's cinnamon industry.


Ms. Hoang Thi Lien said that Vietnam does not have a national sustainable development strategy for cinnamon. In addition, the connection between processing and exporting enterprises and cinnamon growers has not developed even though Vietnam has more than 600 companies operating in the spice sector, mainly doing business; The formation of cooperative groups and cooperatives connected to businesses is still limited...


Notably, spice industry businesses still lack technology and capital to invest in deep processing to increase product value, including cinnamon; In-depth technical capacity does not meet the requirements, there is no research to evaluate other potential from cinnamon to promote value-added solutions (carbon market, value of cinnamon by-products...).


Sharing about the development orientation of the cinnamon industry, Deputy Director of the Forestry Department (Ministry of Agriculture and Rural Development) Trieu Van Luc said that it is necessary to determine the land fund and scale of growing areas; perfect institutions, policies, and mechanisms specific to cinnamon; research, select, create and produce cinnamon varieties; develop raw material areas; Organize production, develop primary processing and processing facilities and product consumption markets.


National Director of IDH (Sustainable Trade Initiative) in Vietnam Huynh Tien Dung said that many businesses have linked with farmers to transfer technology and train on growing organic cinnamon, but are still small. Some businesses have initially linked up in production and processing, but the cinnamon industry has not received adequate investment attention.

According to Hanoimoi.vn

 

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