According to a national seminar on sustainable development of the sector, Vietnamese cinnamon accounted for 18.2 percent of production and 34.4 percent of global export market share in 2022.
In the first 10 months of the current year, sales of this spice abroad, mainly to India, the United States and Bangladesh, exceeded 74,000 tons and generated revenues of more than 220 million dollars, making the latter indicator an annual decrease of 1, 3 recorded percentage points.
During the meeting, Vietnam Pepper and Spice Association President Hoang Thi Lien warned that the country lacks a national strategy for the sustainable development of this sector.
In this sense, the deputy head of the Forestry Department of the Ministry of Agriculture and Rural Development, Trieu Van Luc, announced some guidelines to promote this culture, including the determination of the land fund and the size of the plantation area.
In addition, work will be done to improve institutions, policies and mechanisms, research, selection and production of varieties, and development of processing plants and consumer markets, he expected.
mem/mpm