India imported 3,986 tonnes of cinnamon from Vietnam in October, accounting for 39.2% of the total market share and representing a 50.1% increase from September, reported the Vietnam Pepper and Spice Association (VPSA).
The October volume shows India was one of the three largest consumers of Vietnamese cinnamon, alongside the United States and Bangladesh, said VPSA.
VPSA statistics indicate Vietnam exported 79,516 tonnes of cinnamon for US$220.5 million over the past 10 months. Of the total volume, India purchased 27,381 tonnes, while the US and Bangladesh imported 8,562 tonnes, and 6,850 tonnes, respectively.
India imports a significant amount of cinnamon from Vietnam despite the higher prices. Vietnam is a major global supplier of high-quality cinnamon, which is a key ingredient in Indian consumers’ meals. Over the years, Vietnam’s cinnamon has become well-regarded for its quality, even with price fluctuations.
In addition, India’s demand for cinnamon has been increasing since 2016, positioning it as the top importer of the spice globally. Vietnam continues to supply most of India’s cinnamon needs, even as the prices rose, because it can meet the volume and quality demanded by the market.