India remained Vietnam’s largest export market for cinnamon in 2024, with shipments reaching 35,885 tons, accounting for 35.9% of total exports — down 5.7% compared to 2023.
Vietnam’s Cinnamon Export Overview in 2024
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According to the Vietnam Pepper and Spice Association (VPSA), in December 2024, Vietnam exported 9,604 tons of cinnamon, earning USD 25.3 million, down 10.7% from the previous month.
The top cinnamon exporter during the month was Prosi Thăng Long, accounting for 17.5% of the total export volume with 1,678 tons, followed by Gia vị Sơn Hà (514 tons), Huy Chúc M&M (453 tons), Olam Vietnam (451 tons), and Senspices Vietnam (325 tons).
India was the largest market, importing 4,056 tons, representing 42.2% of Vietnam’s cinnamon export share.
Annual Performance: Volume Up, Value Growth Slows
In total, Vietnam exported 99,874 tons of cinnamon in 2024, earning USD 274.5 million — an 11.7% increase in volume and 5.2% growth in value year-on-year.
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India: 35,885 tons (35.9% share), down 5.7%
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United States: 11,078 tons (11.1% share), up 9.0%
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Bangladesh: 7,928 tons (7.9% share), up 42.5%
Top Exporting Companies
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Prosi Thăng Long: 14,891 tons (14.9% share), up 7.6% YoY
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Gia vị Sơn Hà: 6,163 tons (6.2% share), up 31.8%
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Tuấn Minh: 4,618 tons (4.6% share), up 48.3%
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Senspices Vietnam: 4,299 tons (4.3% share), down 16.2%
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Olam Vietnam: 4,128 tons (4.1% share), up 19.8%
Imports Decline Sharply in 2024
In December 2024, Vietnam imported 387 tons of cinnamon worth USD 0.9 million, down 5.1% from November. Indonesia remained the largest supplier, accounting for 77.5% of the import volume (300 tons).
Throughout 2024, Vietnam imported 4,508 tons of cinnamon, valued at USD 10.9 million, marking a 69.6% drop in volume and a 71.2% decline in value compared to 2023.
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Indonesia: 2,278 tons (50.5% share), up 21.9%
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China: 1,531 tons (34.0% share), down 87.3%
The largest importing company was Gia vị Sơn Hà, with 1,208 tons, accounting for 26.8% of Vietnam’s total cinnamon imports.
Trade Surplus and Outlook
Overall, Vietnam’s cinnamon industry achieved an impressive trade surplus of USD 263.6 million in 2024. Despite the decline in exports to India, the country maintained strong performance in other markets, reinforcing its position as a leading global cinnamon exporter.