Vietnam Pepper and Spice Association projects the country’s total spice export turnover to reach US$2.2 billion in the next 5 years.
Vietnam currently ranks 3rd globally as a spice supplier and processor after India and China, but mainly exports products with low processed content, said VPSA.
Vietnam spice industry comprises of only 14 factories with deep processing technology.
However, Vietnam is still ranked the market leader in the production and export of pepper.
Hoang Thị Lien, VPSA President, said that all efforts needed to be focused on pepper to ensure stable production as Vietnam will take the lead in regulating world market prices.
The VPSA said that the country’s exports of pepper, cinnamon, anise, chili, nutmeg, ginger and turmeric reached US$1.3 billion in 2023.
