News

Vietnam’s spice industry has huge development potential

Herbs, Spices & Seasonings
Vietnam
Market & Price Trends
Published Apr 3, 2024

Tridge summary

Vietnam, currently the global leader in pepper production and export, is facing a decline in pepper cultivation due to the expansion of other crops like coffee and durian. The Vietnam Pepper and Spice Association, led by Huang Thi Lien, is focusing on preserving Vietnam's dominant position in the pepper market while also promoting the growth of other spices such as cinnamon and star anise. This comes amid a surge in global demand for spices, attributed to increasing health consciousness. To bolster its spice industry, Vietnam is working on improving business conditions for spice companies, fostering innovation, and providing preferential loans to high-tech firms. In 2023, the country's spice exports, including pepper and cinnamon, amounted to US$1.257 billion, with projections to reach US$2.2 billion within five years.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As for pepper, Vietnam ranks first in the world in pepper production and export volume. However, against the backdrop of the rapid development of other crops such as coffee and durian, Vietnam's pepper planting area and production are on a downward trend. Huang Thi Lien, president of the Vietnam Pepper and Spice Association, said that at present, attention must be paid to maintaining the planting area and production of pepper to ensure that Vietnam can maintain its proactive position and play a role in regulating world market prices as it currently does. Thus, conditions will be created and resources will be provided to support the development of other spices with potential, such as cinnamon and star anise. Ms. Huang Thi Lien said that consumers around the world are increasingly concerned about health issues and the demand for spices is constantly increasing. Increase. Vietnam's spice products are rich and diverse, and the quality of some spices has been highly praised by ...
Source: Foodmate
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