According to data from the General Department of Customs, Vietnam’s pepper exports in March 2024 reached approximately 25.92 thousand tons, worth 111.58 million USD, an increase of 92.7% in volume and an increase of 104.8% % in value compared to February 2024, compared to March 2023, down 27.5% in volume, but up 4.8% in value.
In March 2024, Vietnam’s average export price of pepper reached 4,305 USD/ton, an increase of 6.3% compared to February 2024 and a sharp increase of 44.5% compared to March 2023. Thus, the price has increased for the third consecutive time since December 2023.
Including the first quarter of 2024, Vietnam’s pepper exports reached 56.78 thousand tons, worth 235.82 million USD, down 25.4% in volume, but up 1.1% in value over the same period. 2023. Vietnam’s average pepper export price reaches 4,153 USD/ton, up 35.5% over the same period in 2023.
In March 2024, compared to the same period last year, the amount of Vietnamese pepper exported to the Indian, United Arab Emirates, and Egyptian markets decreased. On the contrary, pepper exports to many markets increased sharply, such as the United States, Germany, the Netherlands, Pakistan, Thailand…
In general, in the first 3 months of 2024, pepper exports to many traditional and potential markets increased sharply, such as the United States, India, Germany, the Netherlands, Pakistan… On the contrary, pepper exports decreased to other markets. Market: United Arab Emirates, Thailand, Egypt…
Among the markets, Korea has emerged as an active buyer of Vietnamese pepper since the beginning of the year.
Specifically, in March, Vietnam exported 972 tons of pepper to Korea, equivalent to more than 4.44 million USD, an increase of 269.6% in volume and 308.2% in turnover compared to March. /2023.
Including the first quarter, the country of kimchi spent more than 9.37 million USD to import 2,165 tons of pepper from Vietnam, an increase of 179.7% in volume and an increase of 188.5% in value over the same period last year. last. This country accounts for 3.8% in volume and 4% in turnover of Vietnam’s total pepper exports.
The average export price in 3 months reached 4,329 USD/ton, up 3.14% over the same period last year.
According to the Vietnam Pepper Association, starting in 2001, Vietnam has become the world’s largest pepper exporter with a total export volume of 56,506 tons, accounting for 28% of the world’s total exports. Since then, Vietnam has continuously been the leading country in pepper production and export.
Recently, domestic pepper prices have continuously skyrocketed, nearly reaching 100,000 VND/kg. The Vietnam Pepper and Spice Association (VPSA) said that due to low supply, high USD and global geopolitical situation, transportation is difficult. In addition, speculation is the main reason for the recent increase in pepper prices.
Currently, our country’s harvest has basically ended. After harvesting, experts warn, pepper plants will often be “exhausted” and fall during the dry season.
The Import-Export Department forecasts that pepper prices in producing countries will continue to remain high due to increased demand, while supply from producing countries Indonesia, Brazil, Malaysia, and Cambodia is not enough to compensate for the export volume. Reduced exports from Vietnam.
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