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Vietnam has a type of wood tree that, although commonly grown in many provinces and cities with an area of hundreds of thousands of hectares, is a precious tree in the world: cinnamon. According to statistics, our country owns up to 180,000 hectares in the Northern and North Central mountainous provinces. Vietnam’s cinnamon bark reserves alone are estimated at 900,000 – 1,200,000 tons, with an average harvest of 70,000 – 80,000 tons/year.
In the world, cinnamon is grown mainly in Vietnam, China, Indonesia like Casia and Madagascar, and Sri Lanka like Ceylon. Among the world’s approximately 300 species of cinnamon, 4 species have the most circulated products in the international market including: mandarin cinnamon/malaylan cinnamon, Chinese cinnamon/stick cinnamon, Vietnamese cinnamon stick/cinnamon, and cinnamon stick. . Cinnamon is considered the best quality cinnamon, accounting for 90% of the EU market share, a very demanding market.
Besides domestic supply, our country is also importing this plant from other countries to consolidate its leading export position in the world with an export turnover of more than 34.4% globally.
According to preliminary statistics of the Vietnam Pepper Association (VPA), in November 2024, Vietnam imported 408 tons of cinnamon, with a turnover of 1.0 million USD, compared to the previous month, the import volume increased by 54 million USD. .0%. Indonesia and China are the two main cinnamon suppliers to Vietnam, reaching 234 tons and 158 tons.
Cumulatively in the first 11 months of the year, Vietnam imported 4,121 tons of cinnamon with a turnover of 10 million USD, compared to the same period last year, the import volume decreased by 71.9% and the turnover decreased by 73.1%. Indonesia is the largest cinnamon supplier to Vietnam with 1,978 tons, accounting for 48%. Followed by the Chinese market with 1,490 tons, accounting for 36.2%.
Previously in 2023, Vietnam imported nearly 15 thousand tons of cinnamon, with a turnover of 37.6 million USD. Regarding the export situation, our country has earned 249.2 million USD from cinnamon exports since the beginning of the year until now, an increase of 4% over the same period.
Vietnam is a country with diverse sources of medicinal herbs, many precious and rare types. However, experts assess that this is not a source of goods with high export turnover. The main reason is that there is no planning for the development of medicinal plants in Vietnam, which is spontaneous, especially because specific outputs have not been determined, so destruction still occurs due to lack of consumption.
Experts said that in order to increase opportunities and create conditions for promoting the export of Vietnamese cinnamon, anise and medicinal plant products to the international market, it is necessary to resolve 5 main groups of issues: Actively research and develop products, preserve genes and rare varieties of medicinal materials; human resources training; promote joint ventures and partnerships, develop export markets; building brands for products and the Vietnamese pharmaceutical industry; develop logistics services; Planning large raw material areas to create commercial output large enough to serve export.
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