Spices Exports: Turmeric, Garlic and Ginger Exports Skyrocket
[Update August 27th, 2024] In 2024, Vietnam is still one of the largest spices exporters in the world. Besides pepper, Vietnam made millions of USD from ginger, garlic, and turmeric exports in five months of this year. According to the data, there was a 3–14 times increase in value for each product over the same period last year. This post will discuss more about Vietnam’s turmeric, garlic, and ginger exports and the potential of spices exports in 2024.
1. Turmeric, Garlic, and Ginger exports skyrocket
Vietnam has been one of the world’s leading exporters of spices. It reaches an annual revenue of nearly 1.5 billion USD. The export turnover is almost half a billion USD in the first five months, up 21% from the same period in 2023. Peppercorn is the most popular among them. This year has also seen a rise in other spices, like turmeric, ginger, and garlic, in addition to pepper.
Exports of turmeric reached 3 million USD, up 14 times over the same period last year. Ginger exports reached 5.6 million USD, up almost 9 times. And exports of garlic reached 4.7 million USD, up three times, according to data from the Customs Department.
2. The potential of Vietnamese Spices Exports in 2024
In a similar, more countries are importing more Vietnamese chili. This product’s export turnover in the first five months of 2024 is approximately 44.5 million USD. It’s a 10% increase over the same period the previous year.
Industry experts stated that a decline in worldwide supply was the cause of the rise in the export of various spices during the first five months of 2024. In the meantime, China, Japan, and the US all became more and more in demand for spice. At the moment, the top 5 countries that prefer Vietnamese spices are the US, China, India, the UAE, and the Philippines.
The Vietnam Pepper and Spice Association (VPSA) claims that Vietnam is the world’s third-largest exporter of spices and holds a dominant position in numerous significant markets. Nonetheless, the industry continues to face numerous difficulties. The destruction of trees has resulted in a significant decrease in pepper output over the last five years.
According to VPSA projections, this year’s pepper production may drop to 160,000–165,000 tons, a decrease of roughly 10-15%. Another issue affecting star anise production is dispersed and haphazard planting areas.
Other spices that are always in a state of “good harvest, low price” and “lack of quality control” include ginger, turmeric, and chilies. Specifically, the area dedicated to cinnamon increased from 13,863 hectares in 2000 to 186,000 hectares in 2023, making Vietnam the world’s largest producer of cinnamon bark, with an output of 72,000 tons in 2023. For sustainable development, the cinnamon sector still requires a strategic direction, though.
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