According to the General Department of Customs , in the first quarter of 2023, Vietnam exported 18,685 tons of cinnamon with a total turnover of 54.8 million USD, up 45.8% in volume and 13.8% in value over the same period last year. 2022.

Anise is a very potential export item

Notably, in the first quarter of 2023, Vietnam exported 3,369 tons of star anise, with a total export turnover of 21.6 million USD, compared to the same period last year, the export volume increased sharply by 261.9 %.

Currently, cinnamon and anise in Vietnam are strongly consumed in many regions of South Asia (such as India, Bangladesh), the Middle East (UAE, Pakistan), East Asia (Japan, Taiwan - China, Korea), USA and the countries of the European Union - EU.

Facing the trend of increasing demand for raw materials in the food, cosmetic, and pharmaceutical industries, along with many signed free trade agreements , cinnamon and anise products in Vietnam have more motivation and opportunities. develop.

According to the World Spices Association, Vietnam owns a precious spice plant with annual output in the top TOP in the world, which is cinnamon and star anise. Specifically, Vietnam's anise production ranks second in the world and cinnamon output ranks third in the world and is sought after by many markets, earning hundreds of millions of dollars each year.

According to the Food and Agriculture Organization of the United Nations - FAO, in 2020, Vietnam is among the four countries that contribute to 98% of the total global cinnamon production. Anise is a native plant that very few countries own, most of which are Vietnam and China.

According to Marketsandmarkets.com, with this resource, Vietnam is a potential supplier of the world spice and flavoring market which has been valued at USD 21.3 billion in 2021 and will grow to USD 27.4 billion. year 2026.