It is forecasted that the export of Vietnam's pepper and spices will reach 2 billion USD by 2025

Published 2023년 4월 24일

Tridge summary

The Vietnam Pepper Association forecasts that the country's pepper and spices exports will reach $2 billion by 2025, due to the positive harvest forecast for pepper crops and the expected decrease in production from other major producing countries. However, geopolitical factors and strict import market regulations on non-tariff barriers like pesticide residues and heavy metals may cause price instability. In 2022, the pepper and spice industry generated over $1.4 billion in revenue. Vietnam is a major producer and exporter of these commodities, but faces challenges such as pesticide residues in chili products and heavy metal residues in cinnamon. Organizations like IDH Vietnam are partnering with the association to address these challenges and promote sustainable farming and trade practices in the industry.

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

Original content

At the seminar "Vietnam's journey to become a sustainable supplier of pepper and spices" organized by the Vietnam Pepper Association and a number of units on April 21, Ms. According to the Vietnam Pepper Association, exports of pepper and spices are forecast to reach US$2 billion by 2025. Analyzing this statement, Ms. Hoang Thi Lien said that pepper and spice exports have now reached US$1.4 billion. With current conditions, the above figure may be a bit ambitious, however, when the market returns to the way it was before the COVID-19 epidemic, the growth rate of this industry is quite good. Pepper used to be exported to reach 1.1 billion USD. When the demand is high and the supply is tight, there will be pressure on the price, the expectation of a figure of 2 billion USD is visible. Besides, the production process of products is getting more and more standard, organic production increases, the price will be better. Mr. Le Viet Anh, Chief of Office, Vietnam Pepper Association, ...

Source: Vinanet