Although the Vietnamese cinnamon market in 2023 is somewhat gloomy due to the impact of the Covid pandemic, the selling price of Vietnamese cinnamon still fluctuates continuously. So in early 2024, what is the selling price of cinnamon in Vietnam? Will the price fluctuate strongly or not? Let’s find out more details with K-Agriculture in the article below
Contents
OVERVIEW OF THE CURRENT CINNAMON MARKET
Cinnamon is one of the key crops in the socio-economic development of farmers in the northern mountainous provinces in Vietnam. Currently, the total area of cinnamon in Vietnam is about more than 200,000 hectares. Vietnam’s cinnamon spice export value has continuously increased in recent years. Currently, Vietnam’s cinnamon output is still leading in exports of about 72,000 tons in 2023. To improve product value and sustainable development To stabilize the cinnamon area, localities are aiming to form clean raw material areas and produce organically.
Vietnamese cinnamon has a lot of potential, especially in high-quality markets like the US and Europe. Furthermore, Vietnam also benefits a lot from new generation FTA trade agreements such as CPTPP and VPA/FLEGT Agreement. . Demand for cinnamon spice is growing faster than global supply, with Vietnam accounting for about 34.4% of the market share. Currently, Vietnamese cinnamon is consumed strongly in many regions of South Asia (such as India, Bangladesh), the Middle East (UAE, Pakistan), East Asia (Japan, Taiwan – China, Korea), America and European countries. Union – EU.
Cigar cinnamon is being dried in the sun during the production process
UPDATE CINNAMON PRICES IN THE 1st QUARTER AT K-AGRICULTURE
Cinnamon spice is a popular spice in the world, so cinnamon is highly sought after in the market and its price fluctuates over time. Furthermore, Vietnam is currently the country that produces cinnamon with the best quality. world with competitive prices, so Vietnam’s demand for cinnamon is very large.
A special feature of the cinnamon tree is that it is not a seasonal crop. If the price of cinnamon is not good, farmers may not harvest cinnamon at that time but wait for the price to increase before harvesting cinnamon. Even after harvesting, if cinnamon is produced and stored properly, cinnamon can last for 2-3 years without losing its scent and flavor. According to the latest price list from K-Agriculture Factory, the price of Vietnamese cinnamon spice FOB Hai Phong Port/1 ton in March 20224 is as follows:
| Type | Cinnamon split (20 – 45 cm) | Cinnamon cigar (8 – 12 cm) | Cinnamon stick (20 – 45 cm) | Cinnamon Broken (15 cm) | Cinnamon broken cigar (1 – 4cm) |
| Price ($/ton) | $241x – $27xx | $41xx – $48xx | $43xx – $49xx | $159x – $19xx | $22xx |
CINNAMON ORDERS IN MARCH
In March, K-agriculture successfully completed orders for 7 tons of broken cinnamon and 20 tons of cigar cinnamon. We are always confident with high quality cinnamon products, competitive prices, and meticulous attention to detail in each order.
Cinnamon cigars are being packaged
K-agriculture employees are checking the quality of goods
K-agriculture employees are checking the quantity of goods
Staff are carrying boxes of cinnamon onto the car to the port
K-Agriculture factory is one of the most reputable exporters of high-quality cinnamon spice in Vietnam with more than 25 years of international business. We have a system of cinnamon factories covering thousands of square meters, so we are committed to the most competitive factory prices in the market. K-Agriculture factory ensures product quality is 100% real cinnamon that has been peeled, contains no preservatives, no fake products, and no poor quality Chinese products. As a major company in the field of international cinnamon products business in Vietnam – the largest exporter of cinnamon sticks, split cinnamon and cinnamon sticks since 1996, K-agriculture is proud to offer buyers cinnamon sticks. with consistent quality standards and affordable prices.
Hope you found this article useful. Please leave a comment to have experts from K-agriculture, one of the largest agricultural factories in Vietnam, explain more!
K-Agriculture is forever grateful and respectful!
- Address: 169 Nguyen Ngoc Vu, Trung Hoa ward, Cau Giay district, Hanoi, Vietnam
- Email: info@k-agriculture.com
- Website: https://k-agriculture.com
- Phone number: +84855555837
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