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Vietnam advised to bolster intensive spice processing to increase added value

HANOI
2024-06-13 16:13

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HANOI, June 13 (Xinhua) -- As a world leading spice exporter with a revenue of some 1.5 billion U.S. dollars every year, Vietnam should bolster intensive processing and trade promotion to increase added values, Vietnam News Agency reported Thursday, citing experts.

Vietnamese spices have been present in more than 120 countries and territories worldwide, and set a foothold in many important markets such as the United States, the European Union, India, and China. However, export revenue to India and China have been on the downward trend, said the report.

Hoang Thi Lien, president of the Vietnam Pepper and Spice Association, said trade promotion had an important role to play to help Vietnamese spices reach out to the world.

The association is building a strategy for sustainable market development while popularizing the Vietnamese spices, she said.

It will also support member enterprises to expand trade opportunities at large international exhibitions, she said.

Vietnam earned 322.7 million dollars from exporting 87,400 tons of spices in the first quarter of this year, a year-on-year fall of 4.8 percent and 24.1 percent, respectively, according to the association.
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