The world has a positive view of Vietnam's spices and flavorings

Published 2021년 10월 31일

Tridge summary

Vietnam's spice and flavorings industry, particularly pepper, is experiencing a surge in demand on a global scale, reaching 110 countries and accounting for 60% of the world's pepper exports. Despite challenges such as increased shipping costs, the industry is expected to see improving prices and sustainable growth. The government and industry experts suggest strategies for suitable development and recommend market research and innovation to penetrate markets like India and Europe. The Import-Export Department forecasts a continued increase in global pepper prices, indicating a positive outlook for Vietnam's exports.

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

Original content

The increasing demand for imported spices and flavorings in the world is a good sign for Vietnam's spices and flavorings. Among the spices of Vietnam, pepper is very famous in the world market and accounts for the highest proportion of export turnover. Up to now, Vietnamese pepper has been present in 110 countries and territories around the world, accounting for 60% of pepper exports in the world. The world's important supply Mr. Hoang Phuoc Binh, Permanent Vice President and General Secretary of Chu Se Pepper Association (Gia Lai), said that pepper is now starting a new price cycle. In the next few months and the following years, the price will gradually improve, it is likely that by the end of this year the price will reach 90,000-100,000 VND/kg. It is forecasted that the price of pepper may peak like the previous cycle in the next 8-10 years and the price is expected to reach 250,000-300,000 VND/kg. Although pepper prices have increased, pepper growers no longer suffer losses ...

Source: Vinanet