VN becoming big market for Korean ginseng

The Republic of Korea exported 1.362 tons of ginseng worth US$9.5 million to Viet Nam, up 93% in volume and 32% in value compared to the figures in 2010, Yonhap News Agency cited statistics of the Korea Trade-Investment Promotion Agency (KOTRA) as saying that. 

China, on the other hand, is going after the Viet Nam market with low-priced products and has been drawing success. China was able to double its exports of ginseng roots to Viet Nam over the past 5 years to 28%, compared with Korea whose exports of the products fell from 83% to 55%, KOTRA added.

KOTRA forecast that Korea's exports may also be hurt as Viet Nam cultivates its own ginseng to lower its dependence on imports.

                                                                                                                                    By Vien Nhu