Vietnam is well-known as one of the world’s top four cinnamon centers. As a result, Vietnamese cinnamon has established itself as one of the market’s brightest prospects. The following page will provide you a complete review of Vietnamese cinnamon.
An overview of Vietnamese cinnamon
A brief overview of Vietnamese cinnamon background information may aid you in your decision to purchase this product.
Definition of Vietnamese cinnamon
The definition of Vietnamese cinnamon
Vietnamese cinnamon is a Cassia species of annual plant that is native to mainland Southeast Asia. Vietnamese cinnamon is harvested in two distinct seasons. The first is spring, which lasts from February to March, and the second is fall, which lasts from August to September. Vietnam, together with Indonesia, China, and Sri Lanka, is the world’s largest cinnamon producer.
Main distribution of Vietnamese cinnamon
There are several sites where Vietnamese cinnamon is grown nowadays, but the most prominent is Van Yen district in Yen Bai province.
Main distribution of Vietnamese cinnamon
- By the end of 2019, the overall area of cinnamon cultivation in Van Yen district was over 40,000 hectares, while the total area of cinnamon cultivation in the country was approximately 150,000 hectares.
- Van Yen is an excellent location for growing Vietnamese cinnamon for two reasons. The first is due to the good natural conditions, with the majority of the cinnamon-growing area being high mountains between 150 and 700 meters, with high rainfall, high air humidity, and low heat radiation. The human aspect is the second reason for the presence of Vietnamese cinnamon concentrates in this country. The Dao people of Van Yen district, Yen Bai province, have developed professional cinnamon farming techniques based on a long history of traditional cinnamon production.
Besides Yen Bai, Quang Ninh, Quang Nam, Lao Cai and Thanh Hoa are the places that have witnessed an increase in the Vietnamese cinnamon cultivation size.
Major importers of Vietnamese cinnamon
Major importers of Vietnamese cinnamon
Vietnamese cinnamon is mostly imported by countries in the Middle East and North America. According to the OEC, the top destinations for Vietnamese cinnamon exports in 2019 are India ($71.8 million), the United States ($23.4 million), Bangladesh ($15 million), Indonesia ($9.6 million), and South Korea ($6.84 million). Vietnamese cinnamon has recently begun to catch the attention of European cinnamon providers.
Elements impacting the price of Vietnamese cinnamon
This section will provide the main elements impacting the price of Vietnamese cinnamon including supply, demand and government policies.
Supply impacting the price of Vietnamese cinnamon
According to FAOSTAT, the global production of cinnamon in the world was : 222,122 tonnes, in which Vietnam accounted for 31,429 tonnes. The supply of Vietnamese cinnamon is quite abundant compared to other big cinnamon hubs like Sri Lanka. However, the demand-supply imbalance in recent years threatens the price of Vietnamese cinnamon. Because of that, the price of cinnamon has a tendency to increase in the future.
Demand impacting the price of Vietnamese cinnamon
The demand for Vietnamese cinnamon has been on the rise in both the domestic market and the foreign market, especially the United States and the European countries. The main reasons comes from the loosening of business policies and border opening policies. Plus with the tightness in supply, the price of Vietnamese cinnamon is estimated to drastically increase in the near future.
Government policies impacting the price of Vietnamese cinnamon
EVFTA Agreement benefits Vietnamese cinnamon exporting
Bilateral and multinational trade agreements make cross-border trade easier and remove barriers such as tariffs. As a result, Vietnamese cinnamon has a variety of advantages in terms of pricing. For example, the EU-Vietnam Free Trade Agreement (EVFTA) took effect in early August 2020, eliminating 99 percent of all tariffs. As a consequence, a variety of Vietnamese agricultural goods, including cinnamon, may now be sold to the EU at a lower cost.
Top reliable providers of Vietnamese cinnamon
If you are looking for trustworthy providers of Vietnamese cinnamon, you should not ignore the recommendation lists below.
K-Agriculture
K-Agirculture Factory
K-Agriculture Factory has long been one of the most reliable providers of Vietnamese cinnamon. Having undergone over 20-year experience plus with the strong assistance of the Ministry of Industry and Trade, K-Agriculture Factory brings competitive prices in cinnamon products.
Contact:
Phone: +84855 555 837 (Whatsapp Available)
Website: vietnamesecinnamon84.com
Email: sarahnguyen.kagri@gmail.com
Visimex
Visimex Corporation Joint Stock Company, a subsidiary of the NIC Group, was founded in 2002 and is one of Vietnam’s leading producers of high-quality spices, foods, and agricultural products. Now that Vsimex has a global distribution of 70 countries and meets HACCP, BRC, Halal, Kosher, and ISO 22000: 2007 quality standards, this Vietnamese cinnamon supplier is secure and contributes considerably to the country’s export value.
Hanfimex
Hafimex was created in 2003 with the purpose of “For A Healthy Food Chain,” and is one of the leading Vietnamese cinnamon exporters and manufacturers of foods and seasonings. Hanfimex developed their cinnamon production in the raw-materials area of Yen Bai, Vietnam’s cinnamon hub, over 500 hectares. This firm piled up dozens of fresh amazing triumphs in the area of cinnamon trading between 2013 and 2020.
To recap, this article has provided all the basic information you need to know about Vietnamese cinnamon. Hopefully, after this, you can find reliable cinnamon suppliers in Vietnam.
