Vietnam International Pepper and Spice Outlook 2024 serves as a platform for exporters, suppliers, cooperatives, farmers and government bodies to gather, foster networking and explore cooperation opportunities.
Phan Minh Thông, General Director of Phúc Sinh JSC, said the fund would not participate in operating the business but simply provide financial support. This has been the first time the company received foreign investment in 22 years of operation....
Viet Nam is one of the major spice producers and exporters in the world, of which exports account for about 11 per cent of the global market share last year, according to ITC.
Accordingly, for Viet Nam, spices that were previously controlled at 50 per cent such as coriander, basil, mint, parsley have been removed from the control list.
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.
Vietnamese rice, spices, and fruit have been increasing their presence in demanding markets worldwide as local businesses are taking advantage of free trade agreements.
With tropical weather and diverse ecosystems, Viet Nam is rich in spices, including many very special and popular flavours such as cinnamon, anise, pepper, cardamom, cashew and chili.
The domestic food production industry has great potential for
development but local firms need to revamp production and study consumer
trends to compete with foreign rivals, experts say.