In the first seven months of 2024, star anise exports reached 8,685 metric tons. The total export revenue reached USD 41.9 million. Compared to the same period last year, the volume increased by 5.1% but the revenue decreased by 17.1%. The export value of star anise will increase to USD 27.4 billion by 2026, according to the forecast of the Vietnam Pepper Association.
Due to its characteristic aroma in many sectors, star anise exports have affirmed its position in the market. Vietnamese star anise is the vital ingredient in the food, pharmaceutical and cosmetic industries. Vietnam is a potential supplier of star anise to the world spice and flavoring market.
Vietnamese star anise is strongly popular in many countries. Namely, they are India, Bangladesh, the Middle East, Japan, China and South Korea, the US and EU countries. Especially, India and China are two main export markets, accounting for 50% and 25% respectively.
Vietnam is famous with many types of precious spices such as pepper, chili, cinnamon, anise. The export turnover reaches tens of billions of USD each year.
In particular, star anise is considered a “treasure” given by heaven when only few countries own it. In fact, star anise plantation is almost only popular in Vietnam and China. Star anise is known as the “trillion petal” because of its high economic value, sought after by many countries.
According to data from Tridge Company, China, Vietnam and India are currently the world’s largest suppliers of star anise. Of these, only Vietnam and China can produce in large quantities due to favorable conditions.
In recent years, the star anise exports have made significant progress. Export enterprises star anise have paid more attention to improving product quality. In addition, they always upgrade by applying modern production processes and complying with international food safety standards.
As a result, promoting research and development of star anise processed products has also contributed to increasing export value. Take essential oil as an example, it’s use is increasingly popular and in high demand in the international market.
Producing star anise according to organic standards is the good innovation. It will help increase product values and ensure safety for consumers. After harvesting fresh star anise, farmers dry and extract star anise essential oil. Such essential oil has high economic value and widely used in many fields such as: medicinal herbs, flavors, cuisine, handicrafts.
In order to produce high-quality raw materials, many Vietnamese spice companies have built their own growing areas. Also, they signed contracts to guarantee consumption of organic star anise products for farmers. Moreover, they invested in modern machinery system to process dried star anise and extract star anise essential oil.
The high demand for star anise exports in the food, cosmetic, pharmaceutical industries will make this investment process occur more quickly. On the other hand, free trade agreements will create favorable conditions for the development of Vietnamese star anise products.
Vietnamese source: doanhnghieptiepthi.vn