Vietnamese spices make deep inroads into international market

May 5, 2022

Despite facing stiff competition, Vietnamese spices are increasing their presence in demanding markets around the world as businesses take advantage of free trade agreements and adopt advanced technologies.

Vu Kim Hanh, chairwoman of the Business Association of Vietnamese High Quality Products, said localities and firms in the spices and seasoning industry had devised production recovery plans, turned to advanced technologies, diversified products, and capitalised on recent free trade agreements Vietnam has signed to bolster exports once COVID-19 is brought under control.

According to the Trade Promotion Agency, Vietnam’s agricultural sector and the spices and seasonings industry have enjoyed a remarkable transition, turning the country into a global supplier of those products.

Trade promotions and technical support have helped firms surmount difficulties and develop by producing more added value items, according to Hanh.

Vietnamese firms have also worked to gradually meet more stringent requirements by foreign partners, and are able to provide high-quality and safe added value products.

Among Vietnamese spices, peppercorn has gained a foothold in the international market and accounts for a lion’s share of exports.

Demand for peppercorn and other spices is on the rise while global exports have been declining due to the ongoing COVID-19 pandemic, whose fallout includes skyrocketing logistics fees.

Dh Foods Joint Stock Company has signed a deal with the US’s Heritage Beverage Company making it the exclusive distributor of its speciality spices in that country, and plans to ship 10 containers this year starting in the third quarter.

Its general director, Nguyen Trung Dung, hopes that Heritage will help his company conquer the Asian food market in the US, which is valued at 40 billion USD and serves 30 million people of Asian origin, including three million from Vietnam.

It is estimated that more than 80 percent of supermarkets have Asian food stalls.

VNA

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