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VIETNAM’S “TREASURE” ITEM, ONLY 2 COUNTRIES CAN GROW IT, CHINA AND INDIA IMPORT THOUSANDS OF TONS

|April, 8th , 2024

 

 

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This product of Vietnam has a total export turnover of more than 80 million USD in 2023
.

This rare item is star anise. According to the World Spice Association, Vietnam has valuable spice crops, with annual output among the top in the world. That is anise. The reason why anise in general and star anise in particular are considered "treasures" is because this is a native plant that very few countries in the world can grow. In fact, anise is almost only found in Vietnam and China. Furthermore, each year only two anise crops are harvested.

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Anise is a potential export item of Vietnam

According to the Vietnam Pepper Association (VPA), in the first 11 months of 2023, Vietnam exported 15,054 tons of star anise, with a total export turnover of 78.1 million USD, an increase of 29% over the same period in 2022. Many countries around the world import Vietnamese star anise. Specifically, Vietnamese anise is consumed strongly in many regions of South Asia (such as India, Bangladesh), the Middle East (UAE, Pakistan), East Asia (Japan, China and Korea), and the US. and EU countries. Of which, India and China are considered the two main export markets of Vietnamese star anise, accounting for 49.4% and 25.1% respectively.

For the whole year of 2023, Vietnam has exported 16,136 tons of star anise, with a total export turnover reaching 83 million USD, an increase of 26% compared to 2022. According to VPA, the average export price of star anise in 2023 reaching 6,376 USD/ton, down 8% compared to 2022. In particular, India and China are Vietnam's two main export markets, estimated at 7,860 tons (accounting for 48.7%) and 4,116 tons (accounting for 25% of the total). .5%).

According to cafef.vn.

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