Are you looking for the newest update on Vietnam star anise price and Vietnam star anise price trend prediction in 2024? Read this article for more information!
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Overview of Vietnam star anise price
The countries that produce the greatest volume of star anise are China, Vietnam, India, Mexico, Turkey, and Egypt. Thus, the average price of star anise in the world depends greatly on the production of these countries.
Why should we care about Vietnam star anise price?
According to the latest data in 2020, the world produced 2.22 million tons of star anise. In which, Vietnam star anise production ranks 2nd globally (according to the statistics of the World Spice Organization). Because of the large output of star anise, Vietnam has a great influence on the price of star anise traded in the international market.
Besides, according to Tridge data, China, Vietnam, and India are now the dominant suppliers of star anise worldwide. Not only is it one of the world’s leading star anise exporters, but Vietnam star anise price is also competitive since the country can produce star anise in large quantities. This country is currently the second biggest supplier of star anise globally, with a total volume of $81.31M export value and accounting for about 18.79% marketing share in export volume. Vietnam star anise price and quality are considered the best in the world.
Top 3 star anise suppliers in the world
So, if you are a serious star anise importer, you need to pay attention to the Vietnam star anise price. There are times when Vietnam star anise price decreases, being lower than in some other countries. Then, this will be a favorable time for you to buy Vietnam star anise – the best star anise quality at a good price.
Factors affecting Vietnam star anise price
There are many factors affecting the price range of Vietnam star anise, which are star anise specifications, star anise market demand and supply, and logistics transport fees. Among them, fluctuations in the supply and demand of star anise in the market will probably affect its price the most. With star anise specifications, currently, in Vietnam, there are 2 seasons for harvesting star anise, which are Spring and Autumn. The Spring star anise is usually more costly due to the better quality, which raises the Vietnam star anise price in general.
Farmer harvesting star anise in Bac Kan province
Therefore, in the Spring and Autumn harvest seasons, the supply of star anise from the Vietnamese market will increase sharply, leading to a downward trend in the world price of star anise (if the supply increases more than the demand); or an uptrend in the world price of star anise (if demand increases more than supply). However, in the global cinnamon market, the supply of star anise is often scarce, so Vietnam star anise prices in recent years tend to increase.
Which type of Vietnam star anise is the most expensive?
Among all types of star anise produced in Vietnam, the whole star anise is considered to have the best quality and the highest price thanks to its outstanding characteristics. The whole star anise retains its petal shape, unlike the broken star anise, and does not contain impurities like the blended star anise. Therefore, whole star anise is often the most preferred type by consumers. Farmers when harvesting will also be careful to recover the intact shape of star anise so that they can offer a better price.
Vietnam star anise price in recent years
In general, from 2019 to 2021, the price of star anise in Vietnam increased sharply. The following information is updated from Nhan Dan news and Nong Nghiep news – 2 famous and reputable newspapers in Vietnam.
The price of fresh domestic star anise in 2019 was initially only from 25,000 – 27,000 VND/kg (1.1 – 1.2 USD/kg), then increased to 30,000 VND/kg (1.3 USD/kg) sometimes the price was up to nearly 50,000 VND/kg (2.2 USD/kg), doubling the price of 2018. With dried ones, Vietnam star anise price fluctuated around 120,000 VND/kg (5.2 USD/kg).
Vietnam star anise price from 2019 – 2021
In the 2020 crop, Vietnam star anise price rose sharply but the supply volume was still scarce. The price of fresh star anise was about a few tens of thousand VND per kg. The dried star anise was traded for 150,000 – 200,000 VND/kg (6.5 – 8.7 USD/kg) .
In the 2021 crop, Vietnam star anise price was so high and rose continuously. Fresh star anise cost more than 75,000 VND/kg (3.2 USD/kg), double the price of the same period in 2020. Dried star anise cost 300,000-320,000 VND/kg (13 – 13.9 USD/kg). Compared to the same period last year, it was only 200,000-220,000 VND/kg (8.7 – 9.6 USD/kg).
2022 update: Everything about Vietnam star anise price
The price of star anise in Vietnam often fluctuates precariously, as a result of the quality variations between the two crops. There are times when Vietnam star anise price is so high that farmers have a lot of money. However, there are also times when star anise price drops, making life difficult for farmers. Currently, there are 3 main types of Vietnam star anise that are usually traded: Whole star anise, broken star anise, and blended star anise.
Vietnam’s domestic price of star anise
On e-commerce platforms as well as physical retail stores and markets, the price of domestic star anise in the Vietnamese retail market usually ranges from 70,000 – 360,000 VND/kg (around 3 – 15 USD/kg), depending on the processing method as well as the types of star anise. With fresh star anise, the price will be from 40,000 – 50,000 VND/kg (around 1.7 – 2.2 USD/kg). As for dried ones, the Vietnam star anise price will be higher, about 200,000 – 360,000 VND/kg (around 8.6 – 15.6 USD/kg).
Vietnam star anise price: Retail domestic price
On the wholesale market, according to Lang Son star anise price update group – one of the regions that grow the most star anise in Vietnam, the in-season price of fresh star anise in the first half of August 2022 is about 30,000 – 35,000 VND/kg (about 1.3 – 1.5 USD/kg); off-season price may range from 50,000 – 100,000 VND/kg (2.2 – 4.3 USD/kg), changes also depending on the climate conditions. Besides, with the dried ones, the Vietnam star anise price is about 120,000 – 180,000 VND/kg (around 5.2 – 7.8 USD/kg).
Vietnam star anise price in international trade
Vietnam star anise price fluctuates between 6,000 USD and 10,000 USD per metric ton, depending on the seasonal crops and types of spice. Currently, the FOB export price of July 2022 of Vietnam star anise ranges from 74xx – 84xx USD/ton.
Vietnam star anise price updated by K-Agriculture
According to the price update of K-Agriculture – the leading manufacturer and exporter of star anise in Vietnam, the Vietnam star anise price for the whole type ones in July 2022 ranges from 79xx – 81xx USD/ton (FOB price).
Vietnam star anise price compared to the world price
The Vietnam star anise price is often higher than the price of star anise in other countries such as China (the average price of star anise in China usually ranges from $67xx – $9xxx/kg, depending on the harvest season).
So, what are the reasons for that high price? The answer lies in the fact that Vietnam star anise has the best quality in the international market.
Vietnam star anise price compared to the world price
Star anise is a native plant only found in two countries, which are Vietnam and China. Compared to China and India, Vietnam has preferable competitive advantages in star anise production as it has the most suitable soil and climate conditions for planting star anise.
K-Agriculture star anise planting area in Van Quan, Lang Son
Besides, this herb grows naturally in the northern mountains of Vietnam. As what is natural is always good, star anise grown here is very healthy and usually provides good harvest yields. Together with our skillful farmers, star anise plants are taken care of to grow with the best quality. Currently, Vietnam’s star anise is of the world’s top quality that no other countries can compare. Especially, Vietnamese star anise produced in Lang Son is of such high value that it is considered “as precious as gold”. Therefore, Vietnam star anise price is a little bit costly.
Is Vietnam star anise expensive?
Vietnam star anise price is higher than that of other countries, but with its excellent quality, it’s totally worth it. Regardless of the price, the demand for Vietnam star anise still increases, affirming the world’s number 1 quality. Depending on your needs, you can freely choose a suitable supplier in the price range, but if you buy star anise for cooking, it is recommended to use high-quality ones.
K-Agriculture Factory workers preparing star anise for export
In fact, the export price of star anise has been subsidized by the Vietnamese government. It means you might have been charged more for that same quality. In conclusion, the Vietnam star anise price matches its quality and is not too expensive.
Vietnam star anise price trend prediction in 2022
We have forecasted the price trend of Vietnam star anise, as follows:
Prediction of domestic Vietnam star anise price
At this time, people growing star anise in the Van Quan, Lang Son area are entering the main star anise harvest season. This year’s star anise crop is predicted to be nutritious and profitable, leading to an increase in domestic supply, thanks to favorable weather and government support. According to the Lang Son newspaper (accessed on August 15th, 2022), fresh star anise is being traded at about 35 – 40 VND/kg (1.5 – 1.7 $/kg). The price is expected to increase slightly to 50 VND/kg (around 2.2 $/kg).
Autumn 2022 Van Quan harvesting season
However, looking at the star anise demand and supply is essential to know how much the domestic Vietnam star anise price will be higher or lower. The fact is that, with star anise, domestic consumption is insignificant, mainly for export, which brings the highest economic efficiency.
Vietnam star anise price prediction in global trading
In the world, star anise-producing countries are also entering the main harvest period. Therefore, the global supply of star anise will rise, leading to the world price trend cooling down. However, it is also essential to look at the world consumption demand to know how much the Vietnam star anise price in trading will be higher or lower.
2022 Vietnam star anise price trend in global trading
We forecast that the Vietnam star anise price in the last few months of 2022 may be higher and run around 8xxx $/ton (FOB Haiphong port) for the premium ones. Furthermore, the Vietnamese star anise industry is also predicted to keep growing in the coming years.
Our daily price update of Vietnam agriculture products
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K-Agriculture – The best supplier of Vietnam star anise
Suppose you are looking for a supplier of the best star anise from Vietnam, you cannot miss K-Agriculture Factory – a company established in 1996 with experience in exporting Vietnamese agricultural products to more than 80 countries in the world. In 2020, K-Agriculture has been powered by the Vietnam Ministry of Industry and Trade and has become the National project. We have the best Vietnam star anise price and finest star anise quality. Besides, we are an OEM (Original Equipment Manufacturer). We take full responsibility for providing the product according to the customer’s request, including product composition, specifications, inspection, packaging design, packaging, and shipping.
Recently, K-Agricultural was honored to accompany Gaia Cares – a Canadian charity in the Summer Rice Donation project for low-income seniors in Chinatown. We are so glad to have been trusted to contribute our best rice products to this meaningful project. Being a giant in trading star anise products internationally in Vietnam – the biggest Vietnamese star anise exporter since 1996, K-agriculture is proud to bring buyers broken cinnamon with uniform quality standards and affordable prices.
The Summer Rice Donation project for low-income seniors in Chinatown
K-Agriculture Factory promises to supply the best Vietnam star anise price and quality with full services.
Contact us for more information:
Email: info@k-agriculture.com
Website: https://k-agriculture.com/
Whatsapp: +84 84 444 4867 (Ms Camila), +84855555837 (Ms Kris)
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