June 24, 1999
| | |
| ||
| June 24, 1999 | atimes.com | |
| ||
| Southeast Asia Vietnam sniffs out niche in spice trade HANOI - Already a top grower and exporter of rice and robusta coffee, Vietnam has burst onto the pepper market in recent years and is now moving into cinnamon, star anise, ginger, turmeric and herbs, foreign traders said. David Marchington, director of brokers Chambers and Knight Ltd. in London, predicted Vietnam would make further inroads into the pepper trade. He said that pepper from Vietnam compares favourably in quality with similar grades found elsewhere. Vietnam, which ships most of its pepper abroad, has targeted exports of 20,500 tonnes this year from 15,000 tonnes in 1998. From January to May, exports were worth an estimated $66 million. Prices have ranged from $3,300 to $4,000 a tonne FOB Saigon Port in the past six months. Some traders say Vietnam is now the world's second largest black pepper exporter after India. But it is the more exotic spices in Vietnam such as cinnamon, star anise and ginger that excited Mark Barnett, director of Pacific Basin Partnership. Barnett's company has a co-operation contract with the Vietnam National General Export-Import Corporation 1 to process cinnamon for export to world markets. According to Barnett, Vietnam hasn't yet realized its niche market potential in cinnamon. But several major American companies have begun using Vietnamese cinnamon in recent years. He added that Vietnam's cinnamon exports are currently around 2,000 tonnes a year worth US$3.5 million of annual world trade of 45,000 tonnes and that figure will rise. Meanwhile, several thousand tonnes of star anise - a spice often used in Chinese cooking - are being exported. Ginger and turmeric are grown in abundance, with several companies from Hong Kong and Taiwan making regular purchases. (VNA) | |||||||||
 |
|
Front | China | Southeast Asia | Japan | Koreas | India/Pakistan | Central Asia/Russia | Oceania Business Briefs | Global Economy | Asian Crisis | Media/IT | Editorials | Letters | Search/Archive |
back to the top ©1999 Asia Times Online Co., Ltd. |
