+84 (24) 3200 3356Vietnam International Pepper & Spice Outlook (VIPO) 2024 – Sustainability Through Inclusivity
Written by SOFIA TRAN
march 10, 2024
On March 8-9, Hanfimex Group participated in the Vietnam International Pepper & Spice Outlook (VIPO) 2024 held at the InterContinental WestLake Hanoi Hotel. Organized by the Vietnam Pepper and Spice Association, the conference saw the attendance of 300 domestic and international guests and exhibition booths showcasing Vietnamese enterprises to promote and introduce their companies, products, and strengths of the export spice industry to global markets.
With the theme “Sustainability Through Inclusivity“, VIPO 2024 comprised 3 discussion sessions on the topics of (i) sustainability; (ii) market regulations; (iii) reports on Vietnam’s and the world’s Pepper and Cinnamon crops for the 2023-2024 season; and (iv) networking and meeting with clients.
Vietnam is one of the key contributors to the global spice supply chain, holding a significant market share of approximately 11% (after India and China), with pepper production accounting for 35% of output and 55% of export market share. Vietnam plays a crucial role in shaping global pepper exports, averaging a 60% share of the global export market. Vietnam has been the world’s leading pepper exporter for the past 20 years. In 2023, global pepper exports reached 423.8 thousand tons, a 4% increase compared to 2022. Vietnam alone exported 264 thousand tons in 2023.
However, according to experts’ insights, the development of the pepper industry is currently facing several challenges. Firstly, geopolitical factors continue to exert widespread influence on the global economy, particularly in Europe and America, leading to a decline in demand for commodities including pepper in recent times. Secondly, market quality control regulations are becoming increasingly stringent, subject to frequent adjustments and changes. Thirdly, the adverse effects of climate change in the Central Highlands region, where pepper is predominantly cultivated, have resulted in unfavorable conditions, causing significant damage to the agricultural sector in general and pepper cultivation in particular. Additionally, macroeconomic factors such as fluctuating exchange rates and high bank interest rates have further compounded the challenges faced by businesses in their operations.
Given this reality, VIPO 2024 aims not only to review the development of the Vietnamese spice industry in 2023 and its potential for future growth but also serves as a call to all stakeholders regarding the importance of maintaining and developing a sustainable global spice supply chain. It emphasizes the long-term commitment and close collaboration between markets and suppliers to enhance awareness and actions for the protection and respect of resources, thereby creating a sustainable future for the industry. (According to Ms. Hoang Thi Lien – Chairwoman of the Vietnam Pepper and Spice Association)
At VIPO 2024, Hanfimex Group showcased its products at its booth. The products included white pepper, black pepper, cashews, coffee, cinnamon, cloves, etc., both wholesale and deeply processed products. With over 10 years of international presence, Hanfimex’s product lines and brands have secured a firm position in the international market. Hanfimex Group will continue to pursue sustainable values by providing quality-assured products while adhering to social responsibility through the implementation of SMETA and FAIR TRADE standards. It will continue its efforts to improve the lives of farmers, enhance working conditions for laborers, and contribute to environmental protection, thus supporting the sustainable development of Vietnam’s agricultural sector and safeguarding global consumer health.
The VIPO conference, held annually, serves not only as a platform for stakeholders to address challenges within the supply chain but also as an opportunity for Vietnamese enterprises to elevate the brand presence of Vietnamese spice products on the international stage.
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