Tiếng Việt
中文 (中国)In 2023, Vietnam exported 267,000 tons of pepper, an increase of 16.6% in volume, with an estimated value of 912 million USD. In particular, the United States is still the largest market for Vietnam’s pepper supply, accounting for 23.5% of the total pepper export value.
Known as “black gold”, Vietnamese pepper accounts for 60% of the global output. According to preliminary statistics given by the General Department of Customs, in 2023, Vietnam exports 267 thousand tons of pepper, with an estimated value of 912 million USD, up 16.6% in volume but down 6% in value.
The reason for the decrease in export value is that Vietnam’s average export price of pepper decreased by 19.4% compared to 2022, reaching about 3,420 USD per ton in 2023.
Of which, according to the structure of Vietnam’s pepper exports, black pepper accounts for 71.2% and the remainder is white pepper and ground pepper.
To date, the United States is Vietnam’s largest market, accounting for 23.5% of the total export value of this product by the end of November 2023. Vietnam also holds the position of the largest pepper supplier to the US market.
Ranked second is China, accounting for 14.1%; followed by India and Germany, accounting for 5.4% and 4.3% respectively, of the total export value of this item.
According to the Vietnam Pepper and Spice Association (VPSA), the reason for achieving this result is that Vietnamese export businesses have an advantage over some exporting countries such as India, Malaysia, and Indonesia… thanks to the EVFTA Agreement, which helps reduce import taxes on ground or crushed pepper to the EU from 4% to 0%.
Additionally, the United States has reduced imports of pepper from India while Vietnam’s products have good prices and increasingly high quality, so they are favored by the United States. Vietnam’s pepper industry is also highly appreciated for its processing capacity with the rate of processed goods accounting for about 30% of the total export turnover.
Despite the advantage, according to VPSA, pepper exports are forecast to remain at a low level due to not abundant domestic supply, with the inventory from 2023 carried over to this year reaching the lowest level in recent years. That will lead to an increase in pepper prices.
Surveys in Vietnam’s pepper growing areas show that the growing area is gradually shrinking, and some areas are affected by weather, so the harvest output is reduced. This year’s pepper crop is forecast to decrease by about 10-15%, estimated at 160-165 thousand tons.
Black pepper is currently purchased by traders for 95,000 VND per kg; dried and ripe red pepper costs up to 130,000 VND per kg. Compared to the same period last year, pepper prices this time increased by about 30%. This is the highest price in the past 3 years.
Source: Vietnamexport
