In Q1 of 2023, Vietnam exported 3,369 tons of star anise. The total export turnover reached 21.6 million USD, which increased sharply by 261.9% compared to the same period last year.
According to the General Department of Customs, in Q1 of 2023, Vietnam exported 18,685 tons of cinnamon with a total turnover of 54.8 million USD. This result is up 45.8% in volume and 13.8% in value over the same period in 2022.
Star anise is a very potential export item of Vietnam.
Notably, in Q1 of 2023, Vietnam exported 3,369 tons of star anise with a total export turnover of 21.6 million USD. Compared to the same period last year, the export volume increased sharply by 261.9%.
Currently, Vietnamese cinnamon and star anise are strongly consumed in many South Asian regions (such as India and Bangladesh), the Middle East (UAE and Pakistan), East Asia (Japan, Taiwan – China, and Korea), the US, and countries of the EU.
In the face of the increasing demand for raw materials in the food, cosmetic, and pharmaceutical industries, along with many signed Free trade aggrements, Vietnam’s cinnamon and star anise products have more motivation and opportunities for development.
According to the World Spices Association, Vietnam owns precious spices with annual output at the TOP of the world, cinnamon and star anise. Specifically, Vietnam’s star anise production ranks second and cinnamon production ranks third in the world. These spices are favored by many markets, bringing hundreds of millions of dollars each year.Based on the data from the Food and Agriculture Organization of the United Nations (FAO), in 2020, Vietnam is among the 04 countries contributing to 98% of global cinnamon production. Star anise is a native tree, which very few countries own while Vietnam and China account for the most.
Also according to Marketsandmarkets.com, with this resource, Vietnam is a potential supplier of the world spice and flavoring market which has been valued at 21.3 billion USD in 2021 and will increase to 27.4 billion USD in 2026./.