Cordyceps and Matsutake mushrooms led Bhutan’s agricultural exports in 2024, generating significant foreign revenue from countries beyond India and Bangladesh. According to export records, the two high-value forest products collectively earned nearly Nu. 150 million, highlighting their continued dominance in Bhutan’s niche export market for primary commodities.

Cordyceps, known for its medicinal properties and high market value, was the top export commodity by both value and volume. Bhutan exported over 85 kilograms of Cordyceps to nine countries, earning Nu. 99.24 million. Vietnam emerged as the largest importer, purchasing 75.35 kilograms worth Nu. 34.17 million from 22 Bhutanese exporters. Other destinations included Hong Kong (7.35 kg; Nu. 7.02 million), Cambodia, Taiwan, China, the United Kingdom, Switzerland, and the United States.

The demand for Cordyceps remained strong despite its relatively small volume, underscoring its premium pricing in international markets. For instance, even a single kilogram exported to Cambodia fetched Nu. 0.9 million, while a minimal quantity of 0.009 kg sent to the UK was valued at Nu. 0.01 million.

Matsutake, another prized fungus known for its culinary and cultural significance in East Asian markets, was the second-highest export commodity. Bhutan exported 9.9 metric tonnes of Matsutake in 2024, earning Nu. 50.45 million. While specific destination countries were not listed in the summary, its ranking indicates strong regional demand, particularly from countries with established gourmet and medicinal mushroom markets.

Following Cordyceps and Matsutake, other notable exports included various spices (Nu. 3.59 million), shelled Arecanut (Nu. 3.41 million), and Buckwheat (20.24 metric tonnes exported), reflecting Bhutan’s expanding agricultural trade portfolio.

Among other agricultural exports, Malaysia imported 8 metric tonnes of crushed or ground ginger valued at Nu. 5.46 million, handled by a single exporter. Germany imported one metric tonne of pepper worth Nu. 1.83 million, and a shipment of 3.62 metric tonnes of hazelnuts was sent to Australia, earning Nu. 0.77 million.

In total, Bhutan exported 21 different primary agricultural commodities to international markets beyond its traditional trading partners, India and Bangladesh. The data reflects the country’s increasing focus on diversifying export destinations and promoting high-value, low-volume niche products to maximize earnings.

The performance of Cordyceps and Matsutake underscores the potential of Bhutan’s natural and organic products in global markets, especially when supported by sustainable harvesting practices and effective export facilitation.

By Kinley Yonten