Vietnam ranks first in the world in terms of cinnamon exports, accounting for 18.2 percent in output and 34.4 percent of the export market share globally, Vietnam News Agency reported.
The statistics were revealed on Wednesday at a national conference on sustainable development of the cinnamon sector co-hosted by the Vietnam Pepper and Spice Association and the Department of Forestry under the Ministry of Agriculture and Rural Development.
Hoang Thi Lien, the association’s chairwoman, said cinnamon had a lot of export potential, but the product is affected by the trend of green consumption, reducing emissions and carbon. Cinnamon products must own traceability and quality assurance.
Although Vietnam is the world leader in cinnamon exports, the country is lacking a national-level strategy for sustainable development of this sector, she said.
According to the association, Vietnam exported 74,744 tons of cinnamon in the first 10 months of this year, earning 220.3 million U.S. dollars, up 19.2 percent in volume but down 1.3 percent in value year-on-year.
India is Vietnam’s biggest importer, accounting for 43.9 percent of the market share, followed by the United States and Bangladesh.