Source: Kinhte.congthuong.vn
By the end of the first 8 months of the year, the total amount of pepper exported was 182,930 tons, with a value of nearly 878 million USD, down 2.7% in quantity but up 41.8% in value thanks to high prices.
With rising pepper prices and a favorable market, it is expected that Vietnam’s pepper export turnover may exceed 1 billion USD this year, marking the strong return of “black gold” after 6 years. year.
However, the amount of pepper exported from now until the end of the year may be lower than usual because the amount of exported goods in the past 8 months has exceeded the output of 170,000 tons of the 2024 crop.
According to the latest information from the Vietnam Pepper and Spice Association (VPSA), the amount of pepper inventory transferred from the 2023 season plus the amount imported in 2024 is only about 40,000 – 45,000 tons. This number is much lower than previous years, and is expected to put pressure on pepper supply until March 2025, when the new crop begins to be harvested.
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| The demand for pepper in the world market is still very vibrant. |
The main reason for this situation is that the 2024 crop is affected by weather and prolonged drought, which causes pepper output to decrease significantly and harvest time to be delayed by 1-2 months compared to previous years. . It is forecast that the 2025 pepper crop will be harvested almost entirely in February, with many regions extending it to March and April, 1 to 2 months later than in previous years.
The Industry and Trade Information Center – Ministry of Industry and Trade (VITIC) quoted the CEO of Brazspice Spices International – Marcellus Giovanni – as saying, through a quick survey of pepper gardens in key areas such as Dak Nong and Dak Lak, Binh Phuoc, Ba Ria – Vung Tau and Dong Nai, pepper chains are quite numerous but many are sparse. Besides, pepper is still very young compared to the same period last year.
From the above independent survey, it shows that there is concern about the next crop’s output and the harvest time may be delayed. This may cause Vietnam’s new crop supply to be delayed, causing an imbalance in supply and demand in the world pepper supply chain. In addition, demand for pepper in the world market is still very high, however demand from China can fluctuate depending on prices.
Therefore, many experts predict that due to limited supply while demand is still high, pepper prices on the market are expected to increase in the near future. Pepper export businesses will face many challenges because competition for sources of goods will become more fierce, and businesses will also face price pressure from customers. .
Pepper growers can benefit because pepper prices increase and farmers will have more income, but they also need to face difficulties in taking care of pepper gardens due to the effects of weather.
The pepper supply and demand situation is experiencing complex fluctuations, requiring relevant parties to have close coordination to overcome difficulties and seize opportunities. Accurate forecasting of the market situation will help businesses and farmers make effective business decisions.
