In the first 4 months of the year, pepper export turnover reached over 350 million USD, the pepper industry is confident of regaining the 1 billion USD mark in 2024.
Information from the Ministry of Agriculture and Rural Development, in April 2024, Vietnam exported 27,000 tons of pepper, earning 117 million USD, an increase of 4.2% in volume and an increase of 5.1% in turnover compared to last month; Compared to the same period last year, it increased by 2.2% in volume and 40.4% in turnover.
Accumulated in the first 4 months of 2024, pepper exports reached 83,783 tons, with a turnover of more than 353 million USD, down 18.3% in volume, but up 11.5% in turnover compared to the same period in 2023.
The average export price of pepper in April 2024 increased for the fourth consecutive month, reaching 4,342 USD/ton, an increase of 37.4% compared to April 2023. In the first 4 months of 2024, the average export pepper price reached 4,214 USD/ton, up 36.4% over the same period last year.
Notably, there are many new markets increasing Vietnam’s pepper imports, including Pakistan, Germany, Korea, and India, all of which recorded 3-digit growth.
Currently, Vietnam’s pepper exports account for 40% of output and 60% of the global export market share. However, among the world’s largest pepper exporting countries, the price of this “black gold” in Vietnam is ranked last. Specifically, Vietnam’s black pepper price is at 4,200 – 4,300 USD/ton, while the same type of goods from Brazil is 4,900 USD/ton, and those of Indonesia and Malaysia are priced at 4,703 USD/ton and 4,700 USD/ton, respectively. Similarly, Vietnam’s white pepper is priced at 6,000 USD/ton, 1,300 USD/ton lower than the price of Malaysian white pepper and 232 USD/ton lower than the same type in Indonesia.
Ms. Hoang Thi Lien – President of the Vietnam Pepper and Spice Association, said that the factor that has had a positive impact on pepper prices recently comes from limited world supply due to the impact of the El. Nino causes a reduction in global output, including the two largest pepper growing countries, Vietnam and Brazil.
The global pepper market size is valued at 5.43 billion USD, forecast to grow on average more than 20% in the period 2024 – 2032. The Vietnam Pepper Association (VPA) estimates that the pepper output of Vietnam’s 2023-2024 crop will increase by about 5% compared to 2022. Vietnam’s 2024 pepper crop is expected to increase to 225,000 tons compared to an estimated 200,000 tons of last year’s crop.
According to forecasts of the Vietnam Pepper and Spice Association, in the coming time prices will continue to increase, which will help the pepper industry reach the 1 billion USD export mark this year.
According to Thai Thu (thoibaonganhang.vn)
