Export of star anise spice spikes in Vietnam

Published 2023년 6월 19일

Tridge summary

The Vietnam Pepper Association reported a significant increase in star anise exports, with India making up 63% of the market share. Both India and China saw triple-digit growth in purchases in the first five months of the year, and the US and Netherlands also increased their purchases. Exports are projected to surpass 100 million USD by the end of the year. Vietnam, which controls most of the world's star anise supply, has seen increasing export values for cinnamon and anise products, reaching 274 million USD in 2021. The price of dried star anise in Vietnam fluctuates based on quality. The global spice and flavorings market is expected to grow to 27.4 billion USD by 2026.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The above information has just been announced by the Vietnam Pepper Association (VPA). In which, India accounts for 63% of the export market share of star anise, the remaining 37% is China, the US and other markets. Exporters said that in the first 5 months of the year, India and China massively bought this spice from Vietnam with triple-digit growth. In addition to the two markets above, the US and the Netherlands are also increasing their purchases of Vietnamese star anise. It is expected that by the end of the year, the export of this spice to markets can reach over 100 million USD. According to data from the General Department of Forestry, for cinnamon and anise products, the export value has continuously increased, reaching more than 245 million USD in 2020 and about 274 million USD in 2021, accounting for more than 8.3% of export turnover. fruit and vegetable exports. It is expected that this year, the export value of cinnamon anise will reach about 276 million USD. The ...

Source: VNExpress