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| In the first 11 months of 2023, Brazil consumed more than 97 million USD worth of pangasius fish from Vietnam. (Source: Industry and Trade Newspaper) |
The Brazilian market unexpectedly favors this type of seafood, with a sudden increase of 81%
According to newly released information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Brazil is the third largest single market for Vietnamese pangasius. Vietnam has been a supplier of white fish (mainly pangasius) to Brazil for many years.
Accordingly, in November 2023, the export value of Vietnamese pangasius to Brazil reached nearly 14 million USD, an increase of 81% over the same period in 2022. November 2023 was the month when pangasius products were exported to this Latin American country with the highest value and the highest growth since February 2022. This is also the 5th consecutive month in 2023 that this market recorded positive growth in pangasius imports.
VASEP assessed that in the first 11 months of 2023, Brazil consumed more than 97 million USD worth of pangasius fish from Vietnam, an increase of 11% over the same period in 2022. Unlike many other markets, this Latin American country only imports frozen pangasius fillet products from Vietnam.
According to the latest data, the average export price of Vietnamese pangasius to Brazil in October 2023, although slightly increased compared to the previous month, remained below 3 USD/kg, continuing to decrease by 16% compared to the same period in 2022.
According to experts, 2023 can be considered a difficult year for the entire pangasius industry when most export prices to markets decrease. Brazil is no exception, although prices have decreased, compared to the period from mid-2019 to early 2023, this is still an acceptable price.
On the contrary, the export volume of Vietnamese pangasius to this country has tended to increase continuously since June 2023.
Thanks to that, the export value still grew positively, despite the continuous decline in the average export FOB price. In October 2023, Vietnam exported nearly 3,000 tons of pangasius to Brazil. The demand for Vietnamese pangasius in Brazil remained stable and increased somewhat compared to other markets in the context of the general decline.
Citing data from the International Trade Center (ITC), VASEP said that Vietnam is still the leading supplier of white fish (mainly pangasius) to Brazil. However, Vietnamese pangasius is gradually having to compete not only with countries that are starting to farm this fish, but also with some other white fish such as hake (HS code 030474) or cod (HS code 030363).
Brazil is one of the important markets for Vietnamese pangasius. Export growth to this market in 2023 will be a driving force for Vietnamese export enterprises to seize market opportunities to boost exports of Vietnamese pangasius to this country with an increasingly large middle class.
Tea exports hit 7-year low
The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs, saying that it is estimated that in the fourth quarter of 2023, Vietnam's tea exports will reach 39.3 thousand tons, worth 70 million USD, up 16.7% in volume and 18.1% in value compared to the third quarter of 2023, down 22.1% in volume but up 1.4% in value compared to the fourth quarter of 2022.
The average export price of tea in the fourth quarter of 2023 reached 1,778.9 USD/ton, up 1.2% compared to the third quarter of 2023 and up 30.1% compared to the fourth quarter of 2022.
In general, in 2023, tea exports are estimated to reach 121 thousand tons, worth 211 million USD, down 16.9% in volume and 10.9% in value compared to 2022. The average export price of tea in 2023 is estimated to reach 1,737.3 USD/ton, up 7.3% compared to 2022. Thus, 2023 is the year with the lowest export output in 7 years.
The main factors causing Vietnam's tea exports to decline significantly in 2023 are weak market demand and increasingly strict import regulations in major tea export markets.
In addition, Vietnam's current tea exports are mainly in raw form with low processing content. Most tea export items tend to decrease in the 11 months of 2023, with green tea leading in volume and value at 52.6 thousand tons, worth 104 million USD, down 6.9% in volume and 1% in value compared to the same period in 2022; followed by black tea at 42.2 thousand tons, worth 57.2 million USD, down 16.1% in volume and 18.4% in value; scented tea reached 3.5 thousand tons, worth 7.3 million USD, down 4.7% in volume but up 6.7% in value.
Notably, oolong tea exports reached 1,100 tons, worth 3.5 million USD, up 101.8% in volume and 106.5% in value over the same period in 2022.
Most of the tea import value in major markets in the world from Vietnam accounts for a low proportion. Therefore, despite weak market demand, Vietnam's tea industry still has the opportunity to expand its market share.
However, to boost exports to major markets around the world, the Import-Export Department recommends that the Vietnamese tea industry must promote safe tea production; encourage tea production enterprises to apply high technology, biology, and organic agricultural production; support tea growers to link production with processing and product consumption; support enterprises to promote, promote trade, and find markets for tea products; diversify products, focusing on rapidly increasing the proportion of high-value products and new products...
Vietnam's "black gold" dominates the US market
Known as “black gold”, Vietnamese pepper accounts for 60% of global output. According to preliminary statistics from the General Department of Customs, in 2023, Vietnam exported 267,000 tons of pepper, with an estimated value of 912 million USD, up 16.6% in volume but down 6% in value.
The reason for the decrease in export value is that the average export price of Vietnam's pepper decreased by 19.4% compared to 2022, reaching about 3,420 USD per ton in 2023.
In which, according to the structure of Vietnam's pepper export categories, black pepper accounts for 71.2%, the rest is white pepper and ground pepper.
Currently, the US is Vietnam's largest customer, accounting for 23.5% of the total export value of this item by the end of November 2023. Vietnam also holds the position of the largest pepper supplier to the US market.
China ranked second, accounting for 14.1%; followed by India and Germany, accounting for 5.4% and 4.3%, respectively, of the total export value of this item.
According to the Vietnam Pepper and Spice Association (VPSA), the reason for this result is that Vietnamese export enterprises have an advantage over some exporting countries such as India, Malaysia, Indonesia, etc. thanks to the EVFTA Agreement, which helps reduce import tax on ground or crushed pepper to the EU from 4% to 0%.
In addition, the US has reduced pepper imports from India while Vietnamese products have good prices and increasingly high quality, so they are favored by this country. The Vietnamese pepper industry is also highly appreciated for its processing capacity with the proportion of processed products accounting for about 30% of total export turnover.
Vietnam owns a thousand-dollar product, countries compete to hunt for it
Vietnam owns a flower that is known as the trillion-dollar flower because of its high economic value and is sought after by many countries, which is star anise. Star anise, also known as star anise, is the flower of a plant native to China and northeastern Vietnam. According to Tridge data, China, Vietnam, and India are currently the dominant suppliers of star anise worldwide. Of these, Vietnam and China are the only two countries that can produce star anise in large quantities thanks to favorable conditions.
According to statistics from the Vietnam Pepper Association (VPA), Vietnam's star anise exports in December reached 1,082 tons with a value of 4.9 million USD, up 12.1% over the previous month. India and China were the two main markets in December with output reaching 424 tons and 335 tons, respectively.
In the whole year of 2023, our country earned 83 million USD from star anise export, with output reaching 16,136 tons, a sharp increase of 26% in volume.
The average export price in 2023 reached 6,376 USD/ton, down 8% compared to the previous year. In the whole year of 2023, India and China remained the two largest markets with 7,860 tons and 4,116 tons, accounting for 48.7% and 25.5% of the export market, respectively.
In Vietnam, Lang Son is known as the 'capital' of star anise with a growing area of about 40,000 hectares, an annual output of more than 16,000 tons and an average annual economic value of over 1,000 billion VND. Star anise is mainly grown in the districts of Van Quan, Binh Gia, Bac Son, Trang Dinh, Chi Lang, Van Lang and Cao Loc.
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| According to statistics from the Vietnam Pepper Association (VPA), Vietnam's star anise exports in December reached 1,082 tons with a value of 4.9 million USD, up 12.1% over the previous month. (Source: VPA) |
Star anise is actually a fruit, each flower consists of 5-8 diamond-shaped petals arranged in a star or spoke shape. This plant does not require much care, just take the seeds or seedlings and plant them in the ground and let the plant grow naturally. Star anise usually flowers from March to May, in July and September the star anise begins to ripen and people can harvest. Normally, a star anise tree must be 5 years old or older to be harvested, each year there are only 2 harvests, so star anise is already rare and even more valuable.
Star anise essential oil is a precious raw material for the production of massage and digestive medicines, cosmetics and fragrances. Star anise stems have a characteristic flavor like seeds and are eaten as vegetables. Seeds are processed and used in some food products. Star anise powder is very suitable for baking and is the main spice for many recipes such as duck, pork, etc.
In the West, anise oil is produced by distilling star anise, and anise essential oil is often added to some wines. It is also used as a flavoring in desserts and baked goods. In traditional medicine, star anise helps stimulate digestion and is also used to treat and relieve stomach aches.
Cinnamon, star anise and medicinal plant products are increasingly gaining attention and expanding export markets due to changes in consumer awareness, views and tastes towards a green, clean, healthy lifestyle and supporting increased immunity. With the increasing demand for raw materials in the food, cosmetics, pharmaceutical industries, etc., and many free trade agreements being signed, Vietnamese cinnamon and star anise products have more motivation and opportunities for development.
According to Fortune Business Insights, the total market value of herbal products is expected to reach $430 billion by 2028.
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