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Exports from the US, China and India were very popular despite the high price in the first seven months of the year

Exports from the US, China and India were very popular despite the high price in the first seven months of the year

Vietnam has a rare and valuable agricultural product that few countries have: exports from the USA, China and India, all very popular despite the high price, increased sharply in the first seven months of the year - photo 1.

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According to preliminary statistics from the Vietnam Pepper Association (VPA), in July 2022 Vietnam exported 822 tons of star anise with a turnover of US$4.9 million, down 20% from June 2023. The main markets in July include India with 54.9% , the USA with 10.6% and the Netherlands with 4.2%. In terms of production, India is the largest export market for Vietnamese star anise at 511 tons.

By the end of July 2023, Vietnam exported 8,265 tons of star anise, generating sales of US$50.6 million, up 50% in volume and 41.4% in value over the same period last year. At the end of July, India was still Vietnam’s largest importer with a 62% share, followed by China, the US and the UK with 8.6%, 6.7% and 3.9% respectively.

Vietnam has a rare and valuable agricultural product that few countries have: exports from the USA, China and India, which are extremely popular despite the high price, increased sharply in the first seven months of the year - photo 2.

The export price reached USD 6,122/ton, down 6.07% from the same period last year.

In 2022, Vietnam earned 12,855 tons of aniseed US$72.9 million, down 12.2% in volume and down 36.7% from the same period in 2021.

According to the World Spices Association, Vietnam has a valuable spice plant with the world’s highest annual production: cinnamon and star anise. Specifically, Vietnam’s anise production ranks second in the world and cinnamon production third. According to the Food and Agriculture Organization of the United Nations (FAO), Vietnam is among the four countries that account for 98% of the total global cinnamon production in 2020. Anise is a native plant found in very few countries, most notably Vietnam and China.

Thanks to its good quality and stable quantity, this item is popular in many markets and fetches hundreds of millions of dollars. In Vietnam, the anise cultivation area is about 50,000 hectares, mainly in Lang Son and Cao Bang, with an annual output of more than 16,000 tons. At present, star anise in Lang Son Province is cultivated scattered in most of the districts, but is concentrated in Van Quan, Binh Gia, Van Lang, Loc Binh and Cao Loc districts, with a total area of ​​more than 40,000 hectares, equivalent to over 40,000 hectares . 70% of the country’s aniseed area with a production of 13,000-15,000 tons/year.

It is forecast that the cinnamon industry will continue to grow in the years to come, however there are also concerns about the risk of massive conversion, quality management difficulties, price risks and negative impacts on the natural and social environment. In many forums, industry experts have recommended this topic and made suggestions for the sustainable development of cinnamon and anise in Vietnam. Accordingly, experts recommend promoting research and technology application, strengthening and ensuring organic farming standards, diversifying processed or refined products, etc.

You are reading the article Exports from the US, China and India were very popular despite the high price in the first seven months of the year

at thuvienpc.com – Source: Cafef.vn

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