The impressive growth of ginger and turmeric exports shows the great potential of the “gold mine” underground.
According to statistics from the Vietnam Pepper and Spice Association, Vietnam exported 29,544 tons of ginger, turmeric, and other spices in 2024, with a total export value of 59.5 million USD. Compared to 2023, the export volume decreased by 15.5%, but the export value increased significantly by 20.7%.
There has been a change in the market preference for this product from Vietnam. In 2024, Vietnamese ginger was increasingly favored in Indonesia, India, and Pakistan. While in 2023, this item was purchased the most by China with 10,271 tons, followed by Bangladesh with 6,585 tons and India with 4,394 tons.
Ginger is a popular item in many markets, such as India, China, Pakistan, and Australia. This spice helps Vietnam earn tens of millions of USD.
Ginger, turmeric, and other spices have achieved positive results over the past year.
Ginger is a familiar item for Vietnamese people, but in other markets, it is highly favored and valued. Data from 2023 shows that in Australia, the price of Vietnamese ginger was around 9-13 AUD per kg (150,000-200,000 VND). Ginger is packaged in half-kilogram or one-kilogram, mainly for restaurants. Besides frozen ginger, processed ginger from Vietnam is also consumed quite strongly. Especially, ginger jam is a highly favored product in cold regions.
Currently, there are 30 members of the VPA participating in the export of ginger and turmeric, along with about 80 other companies.
According to the Vietnam Trade Office in Australia and India, the potential for exporting ginger from Vietnam to these markets is very large. The price of this product is also competitive compared to goods from other countries. In addition to its fragrance and quality, Vietnamese ginger is also cheaper compared to domestic products in other countries.
Turmeric is also a popular item in culinary, beauty, and medicinal applications.
Vietnam has established itself as a leading country in spice exports, achieving an annual turnover of about 1.5 billion USD. It is expected that the total export value of Vietnam’s spice products could reach about two billion USD by 2025, with an export volume of around 500,000 tons.
Not only ginger but also turmeric and other spices have also achieved positive results over the past year. Customs data shows that turmeric exports in 2024 reached 3 million USD, a 14-time increase compared to the same period in 2023. Meanwhile, garlic exports reached 4.7 million USD, a threefold increase. Customs data shows that turmeric exports in 2024 reached 3 million USD, a 14-fold increase compared to the same period in 2023, while garlic exports reached 4.7 million USD, a threefold increase.
Chili is a type of spice that brings in good revenue. According to statistics from the VPA, Vietnam’s chili exports in the first half of 2024 were 7,326 tons, with a total export value of 17.9 million USD.
To enhance the status of spice products in general, experts have recommended implementing specific solutions for each crop, establishing appropriate mechanisms to promptly meet the demands of export markets, and ensuring the sustainability of these products.