Vietnamese pepper is present in most markets in the CPTPP bloc

Published Oct 29, 2024

Tridge summary

The article highlights the significant growth in Vietnam's cinnamon and other spice exports, including pepper, star anise, and chili, in the first half of 2024. Despite a slight increase in output, a decrease in value is attributed to market supply and demand fluctuations. The majority of these exports are to Asia, particularly India, with smaller quantities to the Americas, Europe, and Africa. The implementation of FTAs, especially the CPTPP, has been crucial in boosting these exports. Vietnam is capitalizing on its production advantage in the CPTPP market, with Japan showing a notable interest in investment in Vietnam's spice industry. The article emphasizes the importance of building strong Vietnamese pepper brands in the CPTPP market by establishing direct connections with farmers, ensuring quality, and promoting sustainability and traceability.

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

Original content

Vietnamese pepper maintains its position in the CPTPP market According to statistics from the Vietnam Pepper and Spice Association, in the first 6 months of 2024, the country exported about 62,000 tons of cinnamon, reaching a turnover of more than 177 million USD. Output increased slightly compared to the same period last year, but the value decreased due to supply and demand in the market. Cinnamon exports are currently concentrated mainly in Asia, especially India, with about 60% of total cinnamon exports; second is the Americas with the main market being the United States, accounting for about 20% of total exports; third is Europe with about 10% and Africa with nearly 40%. In addition, exports of some other spices such as star anise, chili, pepper, etc. also recorded very positive growth when output increased and prices also increased significantly. Regarding the implementation and taking advantage of incentives from FTAs, especially new generation FTAs such as CPTPP, Ms. Hoang ...

Source: Vinanet