According to ministry statistics of the Vietnam Pepper and Spice Association (VPSA), pepper exports in the first 10 months of 2024 will decrease by 1.9% in volume but increase in value by 48% compared to the same period in 2023.
Specifically, in October 2024, Vietnam exported 18,493 tons of pepper of all kinds, an increase of 7.9% over the same period last year. Export turnover in October reached 120.2 million USD; Of which, black pepper export turnover reached 99.8 million USD, white pepper reached 20.4 million USD. The average export price of black pepper in October reached 6,284 USD/ton, down 28 USD and white pepper reached 8,029 USD/ton, up 191 USD.
Accumulated in the first 10 months of 2024, Vietnam has exported 219,387 tons of pepper of all kinds; Of which, black pepper reached 193,892 tons, white pepper reached 25,495 tons. Total export turnover reached more than 1.1 USD. Black pepper reached 881.6 million USD, white pepper reached 162.6 million USD. Compared to the same period last year, export volume decreased by 1.9% (black pepper decreased by 3.3%, white pepper increased by 10.8%), however export turnover increased by 48%. The reason is that export pepper prices in 2024 will reach a much higher level than in 2023. The average export price of black pepper reached 4,971 USD/ton, an increase of 1,528 USD and white pepper reached 6,626 USD/ton, an increase of 1,671 USD compared to with the same period.
The United States was the largest export market of Vietnamese pepper in 10 months, reaching 62,553 tons, accounting for 28.5% of total export output, an increase of nearly 47% over the same period last year. Next are the United Arab Emirates (UAE), Germany, India and the Netherlands markets. China is currently Vietnam’s 6th largest export market, but over the same period, export volume decreased by 84%.
Compared to the same period last year, although export volume decreased, pepper export turnover increased by 48%.
Besides domestically grown raw materials, Vietnam also imports pepper from other countries to serve processing and export needs. In October, the amount of imported pepper soared by more than 98% compared to the previous month. Specifically, Vietnam imported 4,818 tons of pepper of all kinds worth more than 29.3 million USD, mainly from Indonesia and Brazil.
In 10 months, Vietnam imported 28,596 tons of pepper of all kinds, total import turnover reached 131.3 million USD, compared to the same period last year, import volume increased by 27.1%, turnover increased by 78.5%. %.
Indonesia became the largest pepper supplier to Vietnam with an output of 10,287 tons, an increase of 257% over the same period, accounting for 36% of imported output. Pepper imports from Brazil reached 9,013 tons, down 35.5% and imports from Cambodia 6,695 tons, up 96.7% over the same period in 2023.
Pepper processing and exporting enterprises said that Vietnam’s pepper inventory is currently very small, and the 2025 harvest is expected to be 1-2 months later than usual and output is reduced due to the impact of drought. Meanwhile, Indonesia has just finished the 2024 harvest, output is still abundant and prices are continuously cooling down, so businesses are taking advantage of buying. In addition to Indonesia, Vietnam also prioritizes imports from neighboring countries like Cambodia instead of distant sources like Brazil to save transportation costs.
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