US investor buys big stake in Vietnamese curcumin company
In early 2017, PHI Group, an investor from the US, unexpectedly announced the purchase of a 51 percent stake of Hoang Minh Chau, called the ‘curcumin King’ of Khoai Chau area in Hung Yen province. The value of the deal remains a secret. Analysts believe that the main purpose of PHI Group in the deal is accessing the turmeric growing area and taking full advantage of Hoang Minh Chau brand to build a production chain that makes high-quality curcumin and turmeric-made products in accordance with organic standards. One kilo of fresh turmeric sells for for VND20,000, but curcumin can be sold for a price 50 times higher. Turmeric is one of the specialty varieties planted throughout the country.
