Let Vietnamese spices dominate the global market

Published 2023년 4월 30일

Tridge summary

Vietnam is a major producer and exporter of pepper and spices, contributing over 11% to the global market share in 2022. The country saw an increase in pepper and cinnamon exports in the first quarter of 2023 despite a slight decrease in value. However, the industry faces challenges such as strict import regulations on pesticide and heavy metal residues, environmental and social sustainability, and geopolitical factors. The Vietnam Pepper and Spices Association (VPSA) is making efforts to support businesses in complying with these regulations and promoting trade.

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

Original content

Great potential and advantages According to the Vietnam Pepper and Spices Association (VPSA), in 2022, the export turnover of pepper and spices will reach more than 1.4 billion USD, contributing to more than $55 billion USD in agricultural, forestry and fishery export turnover in 2022. In the first quarter of 2023, Vietnam exported 76,727 tons of pepper, total turnover reached 235.9 million USD. Compared to the same period last year, it increased by 40.5% in volume but decreased by 7.3% in value. Along with that, cinnamon exported 18,685 tons with 54.8 million USD, up 45.8% in volume and 13.8% in value. Exported 3,369 tons of anise with 21.6 million USD, up 261.9% in volume… Currently, Vietnam is one of the major spice producers and exporters in the world, in 2022 Vietnamese spices account for about 11 % of the global market share, including the leading position, accounting for a large import market share in the US, EU, China, India and Middle East markets of some Vietnamese ...

Source: Haiquanonline