Vietnam is one of the world’s leading spice exporters, generating approximately USD 1.5 billion annually. Vietnamese spices are now present to more than 125 countries. In which, there are main spices that we dominate many key export markets.
The main Vietnam export spices include pepper, cinnamon, chili, cloves, and star anise. These spices have seen significant growth in both export quantity and value. Alongside increasing the range of spices, trade promotion activities play a crucial role in bringing Vietnamese spices to global consumers.
Vietnames spices
In the first seven months of 2024, pepper export companies reported maintaining an 8% global market share. The average export price has doubled compared to the same period in 2023. To penetrate demanding markets, Vietnam spice companies focus on deep processing methods such as pepper sauces, and ground pepper, which add value to the products.
A leader of a spice export factory shared: “Each year, we invest in building processing plants and sourcing materials to foster growth. Especially, we focus on food safety standards to meet higher requirements from the demanding markets.”
Not only pepper but other spices are also targeting complete natural processing to meet market demands.
Square cut cassia from Vietnam
“It often takes a long time to secure a contract with a foreign partner. Vietnam spice enterprises must remain persistent and participate in exhibitions to connect with importers,” said the leader.
According to the Vietnam Pepper and Spice Association, Vietnam exported over 28,000 tons of various peppers in June alone, generating more than USD 141 million.
Reddish star anise from Vietnam
Additionally, Vietnamese cinnamon products lead the world in production, with major export markets including India, the United States, and Bangladesh. Exports of ginger, garlic, and turmeric have also surged many times compared to the same period last year, bringing in millions of dollars.
“With a 50% share of the global market, Vietnam holds pricing power. Strong coordination among the Ministries, associations, and businesses is vital to ensure sustainable benefits for farmers.”
To maintain their position, export businesses need to focus on deep processing, developing high-quality organic farming areas, and promoting sustainable trade practices.
Vietnamese source: https://vtv.vn/kinh-te/gia-vi-viet-rong-duong-xuat-khau-20240903101340291.htm