Vietnam's pepper export nears US$500 million
So far this year, Vietnam has shipped abroad 114,424 tonnes of pepper worth US$493.1 million, down 13.2 in volume but up 20.6% in value over the same period last year.
The average export price of black pepper is US$4,197 per tonne and white pepper, US$5,804 per tonne, up US$754 and US$849, respectively compared to the same period in 2023.
The US was the largest importer of the Vietnamese spice in the period with 30,466 tonnes, accounting for 26.6% of the total and up 44.4% year on year. Exports also skyrocketed in some markets such as Italy, Germany, and Russia with rises of 179%, 103.2% and 49.7%, respectively.
Vietnam has promoted pepper export to many traditional markets such as the US, India, Germany, the Netherlands, the Republic of Korea, and Egypt. Export to many markets increased sharply in both volume and value.
According to the Vietnam Pepper and Spice Association (VPSA), Vietnam's pepper production this year is estimated to decrease by 10% compared to last year, to only about 170,000 tonnes - the lowest in the past five years. Meanwhile, the supply from countries such as Brazil, Indonesia, India and even smaller producers like Malaysia and Sri Lanka is also declining.
