Star Anise is a product of the star anise tree, a type of plant that thrives and grows in limited regions worldwide, including some provinces in Vietnam and China. The star anise tree ranges from 2 to 6 meters in height, with straight trunks and thick, fragrant leaves. Notably, the star anise tree only begins to yield flowers from the fourth year onwards after planting, with stable yields achieved after 20 years.

Star Anise is not only widely used in Vietnamese cuisine as a seasoning for dishes like pho and curry but also known for its ability to stimulate the taste buds and create appetizing sensations. This enhances the value of star anise, not just as an agricultural product but also as a crucial component in the food industry.

Market Summary:

In the global market context, star anise, a particularly rare and valuable product, has brought Vietnam significant revenue, with nearly 8 million USD in just the first two months of 2024. Known as a hard-to-find product, the rarity of star anise has attracted attention and high demand from countries such as India and China, as well as the US market.

Notable Export Results:

According to preliminary data from the Vietnam Pepper Association (VPA), Vietnam’s star anise exports in February 2024 reached 558 tons, generating revenue of 3.4 million USD. Overall, in the first two months of the year, revenue reached 7.9 million USD from 1,437 tons of star anise, although there was a slight decrease of 2.3% compared to the same period last year. India, importing 731 tons, accounted for 50.9% of total exports, followed by the US market with a rate of 9.3%.

Key Export Enterprises:

Among the companies contributing to this achievement, Prosi Thang Long and Nedspice lead with export volumes of 333 tons and 109 tons, respectively.

Market Prospects and Potential:

Looking ahead, according to a report by Fortune Business Insights, the herbal product market, including star anise, is expected to reach a value of 430 billion USD by 2028. Vietnam, with over 5,100 species of medicinal plants and a promising environment, is poised to become a significant player in this economic sector.