
Vietnam’s Spice Exports: A Growing Success in 2024
In the first 8 months of 2024, Vietnam’s spice industry has continued to thrive, exporting key spices like chilli, cinnamon, star anise, and pepper. These valuable exports have brought in millions, even hundreds of millions of dollars, cementing Vietnam’s position as a global spice powerhouse.
Strong Export Numbers for Pepper
Pepper remains one of Vietnam’s leading export products. According to the Vietnam Pepper and Spice Association (VPSA), as of the end of August, Vietnam had exported 183,756 tons of pepper. This includes 162,721 tons of black pepper and 21,035 tons of white pepper, with total export earnings reaching $881.2 million. Black pepper accounted for $754.1 million, while white pepper brought in $127.1 million.
Although export volume has decreased by 2.1% compared to the same period last year, the total export value has surged by 43%. The rise in revenue is due to a significant increase in average export prices, with black pepper averaging $4,712 per ton and white pepper $6,326 per ton. This represents an increase of $1,270 per ton for black pepper and $1,371 per ton for white pepper compared to last year.
VPSA representatives are optimistic about reaching the $1 billion export target for 2024, as demand typically rises toward the end of the year.

Chilli Exports on the Rise
Chili has also seen impressive growth in export value. In the first eight months of 2024, Vietnam exported 8,800 tons of chilli, generating over $21.2 million in revenue. This marks a 6.1% increase in export volume and a remarkable 34.8% increase in export value compared to the same period last year.
China remains the largest importer of Vietnamese chilli, accounting for 83.8% of the market, although exports to China fell slightly by 0.2%. Laos and the United States also showed strong growth, with exports to Laos increasing by 48% and to the U.S. by 143.3%.
With fresh chilli prices currently ranging from 25,000 to 28,000 VND per kilogram, farmers are seeing good profits. The overall growth of the chilli market is evident, as Vietnam’s chilli export revenue for the entirety of 2023 was $20 million, while in just eight months of 2024, it has already surpassed that figure.

Cinnamon Exports Continue to Climb
Cinnamon is another valuable spice that has contributed significantly to Vietnam’s export earnings. By the end of August 2024, Vietnam had exported 62,918 tons of cinnamon, generating $177 million in revenue. This marks a 1.7% increase in export volume compared to the same period last year.

Vietnam: A Global Leader in the Spice Industry
Vietnam is one of the world’s top spice exporters, generating around $1.5 billion in revenue annually, which accounts for 50% of the world’s spice supply. Vietnamese spices are now exported to 125 countries, dominating key markets worldwide.
In addition to its robust production capabilities, Vietnam’s spice industry has seen increased investment in deep processing, which has further enhanced the value of its spice exports. For example, the Phuc Sinh Group has invested heavily in expanding its pepper processing plants, focusing on food safety and sustainable practices (ESG) to meet the high standards of international markets.
Phan Minh Thông, the “King of Pepper” and Chairman of Phuc Sinh Group, remains confident that 2024 will be a strong year for pepper, with prices expected to continue rising due to limited supply both in Vietnam and globally. However, Thông emphasizes the importance of sustainable growth: “It’s essential for businesses and farmers to work together and invest in long-term sustainability rather than chasing short-term gains when prices are high.”

To succeed in competitive markets, Vietnamese spices like pepper, chilli, cinnamon, and star anise are shifting toward value-added products. Deep-processed items such as cold-dried pepper, pepper sauces, and pepper powder are increasingly in demand, as well as all-natural, processed products that align with consumer preferences for organic and clean-label goods.
Chilica, a leading player in Vietnam’s chilli industry, is pioneering the development of fermented chilli sauce. This value-added product ensures a stable market for chilli farmers and significantly enhances the value of Vietnamese chilli. By focusing on deep processing, Chilica is helping to elevate the status of Vietnamese chilli in the global market.
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