The US spent more than 100 million USD importing a type of Vietnamese nut in the first half of the year, a product that our country holds half of the world’s output.

According to preliminary statistics from the General Department of Customs, Vietnam exported 21,235 tons of pepper in June 2023, reaching a turnover of 76.74 million USD, down 26.6% in volume and down 14.6%. in value compared to the previous month.

Overall, in the first 6 months of the year, the country’s pepper exports reached 152,678 tons, equivalent to a turnover of 483.17 million USD, an increase of 23.5% in volume but a decrease of 13.8% in value. The average export price of pepper reached 3,164 USD/ton, down 30% in price compared to the same period in 2022.

In the first half of 2022, the US is Vietnam’s largest pepper consumption market. Specifically, Pepper exports to the US market reached 25,858 tons, equivalent to a turnover of 103.15 million USD, accounting for 17% of the total volume and 21.4% of the total export turnover of pepper in the country. . Despite being the largest customer, exports to this country are recording a decrease of 16.6% in volume and a decrease of 32.3% in turnover compared to the same period in 2022.

Export prices also decreased by more than 18% over the same period last year, reaching 3,989 USD/ton.

In the opposite direction, according to data from the Vietnam Pepper Association, in the first 6 months of 2023, Vietnam imported 15,083 tons of pepper of all kinds, of which black pepper reached 14,115 tons, white pepper reached 968 tons, compared to During the same period in 2022, imports decreased by 29.2%, equivalent to 6,216 tons, of which black pepper decreased by 21.8% and white pepper decreased by 70.3%.

For the whole year of 2022, pepper exports brought our country more than 970 million USD with nearly 229 thousand tons of all kinds, accounting for 55% of the total pepper export output worldwide. However, a slight decrease of 12.37% in volume and a slight decrease of 3.5% in value compared to 2021.

Also in 2022, pepper exports to the US earned more than 282 million USD, an increase of 23.23% in value compared to 2021 and accounting for nearly 30% of the market share in Vietnam’s total pepper export turnover. For many years, the US has continuously been the largest customer of Vietnamese pepper.

Although India is the homeland of pepper, Vietnam is the world’s largest producer and exporter of pepper. Currently, Vietnam has 6 key pepper producing provinces including Binh Phuoc, Dak Nong, Dak Lak, Ba Ria – Vung Tau, Dong Nai and Gia Lai. Regarding the market, Vietnamese pepper is currently present in more than 100 countries and territories.

Vietnam has an advantage over some other pepper producing countries such as Indonesia, Malaysia, India, Sri Lanka, Cambodia… thanks to advantages from EVFTA. Specifically, the import tax on ground or crushed pepper exported to the EU decreased from 4% to 0%. In addition, Vietnam’s pepper industry is also highly appreciated for its processing capacity with the rate of processed goods currently accounting for about 30% of total export turnover.

In the second half of 2023, the Vietnam Pepper Association forecasts that the purchasing power of pepper and spices in the EU and US markets will record a sluggish situation in the near future while the economic crisis is still ongoing. continue. On the other hand, buyers have the mentality of waiting for the new crop from Indonesia in July, with the hope of lower prices, so transactions from the EU and US markets are not yet active and the market is having a tug-of-war between buyers and sellers.