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Illustrative image (Photo: congthuong.vn) |
Last year, Vietnamese cinnamon accounted for 18.2% in output and 34.4% of the export market share globally.
In the first 10 months of this year, Vietnam shipped 74,744 tons of cinnamon abroad, earning US$220.3 million, up 19.2% in volume but down 1.3% in value year-on-year.
India is Vietnam’s biggest importer, accounting for 43.9% of the market share, followed by the US and Bangladesh.
Hoang Thi Lien, president of the Vietnam Pepper and Spice Association (VPSA), said that Vietnam is lacking a national-level strategy on sustainable development of this sector.
At the event, a public-private partnership (PPP) working group on pepper and spices was established.
Representing the group, Trieu Van Luc, deputy director of the Department of Forestry under the Ministry of Agriculture and Rural Development, gave directions for the development of the cinnamon sector, including determining land fund and planting area scale; perfecting institutions, policies, and mechanisms; researching, selecting and producing varieties; and developing semi-processing and processing facilities and consumption markets.
