In the first 7 months of 2024, Vietnam’s average pepper export price is estimated at 4,665 USD/ton, up 45% over the same period last year.
According to the Vietnam Pepper and Spice Association (VPSA), the increase in pepper prices in the domestic market is not as expected due to low demand from the Chinese market. Currently, pepper prices in the Chinese market are lower than those in Vietnam, which may be the main reason for the restriction on pepper imports from Vietnam.
Also according to the Import-Export Department, it is estimated that the average export price of pepper in Vietnam in July 2024 will reach 5,272 USD/ton, up 13.2% compared to June 2024 and up 53.5% compared to July 2023. In the first 7 months of 2024, the average export price of pepper in Vietnam is estimated at 4,665 USD/ton, up 45% over the same period last year.
According to statistics from the General Department of Customs, Vietnam exported nearly 80.65 thousand tons of pepper in the second quarter of 2024, worth 375.38 million USD, up 41.9% in volume and 59.1% in value compared to the first quarter of 2024, up 5.3% in volume and 50.1% in value compared to the second quarter of 2024.
In the first 6 months of 2024, Vietnam exported approximately 141.4 thousand tons of pepper, worth 629.86 million USD, down 7.4% in volume, but up 30.3% in value over the same period last year.
In terms of export markets, in the second quarter of 2024, Vietnam’s pepper export turnover to all continents increased compared to the first quarter of 2024 and the second quarter of 2023. Notably, the pepper export growth rate to all continents recorded double- to triple-digit growth. In the first 6 months of 2024, pepper export turnover to most continents increased, except for Oceania.
In the second quarter of 2024, pepper export turnover to all traditional markets increased compared to the first quarter of 2024. Compared to the second quarter of 2023, our country’s pepper export turnover to most traditional markets increased, except for the Chinese market. In the first 6 months of 2024, our country’s pepper export turnover to most traditional markets increased, except for the Chinese market. Notably, the pepper export rate to the German market recorded a triple-digit increase.
In the second quarter of 2024, the export turnover of all types of pepper increased compared to the first quarter of 2024 and the second quarter of 2023. In the first 6 months of 2024, the export turnover of black pepper increased by 24.6% over the same period last year, reaching 445 million USD; ground black pepper increased by 55.4%, reaching 87 million USD.
According to Industry and Trade Newspaper/ VPSA
