The United States is Vietnam's largest pepper import market.

According to the Import-Export Department ( Ministry of Industry and Trade ), in the first 5 months of the year, the US market imported more than 28 thousand tons of pepper with a value of more than 128 million USD, an increase of 35.7% in volume and 53.4% in value compared to the same period last year. This is also the largest market for Vietnamese pepper.

The United States is Vietnam's largest pepper import market.

Ranked second is the German market with 6,842 thousand tons and a value of more than 32.8 million USD, an increase of 85.8% in volume and 119.9% in turnover over the same period last year.

Third place is India with 6,813 thousand tons worth more than 28 million USD, up 38.8% in volume and 76.3% in value over the same period last year.

Among the top 10 export markets of Vietnamese pepper in the first 5 months of 2024, all recorded growth in both turnover and value except for the United Arab Emirates.

Specifically, in the first 5 months of 2024, pepper exports to this market only reached 5,558 thousand tons with a value of 23,108 million USD, down 10.3% in volume but recording a growth of 14.6% in value.

Notably, pepper exports to the Korean market recorded triple-digit growth in both volume and value. Specifically, in the first 5 months of the year, pepper exports to this market reached 3,262 thousand tons with a turnover of 14,841 million USD, up 153.7% in volume and 188.7% in value over the same period last year.

According to data from the General Department of Customs, Vietnam's pepper exports in May 2024 reached 26.34 thousand tons, worth over 117 million USD, up 0.5% in volume and 0.7% in value compared to April 2024; compared to May 2023, it decreased by 9.0% in volume but increased by 30.2% in value. In the first 5 months of 2024, Vietnam's pepper exports reached 109.33 thousand tons, worth 469 million USD, down 16.8% in volume but up 15.4% in value compared to the same period in 2023.

In May 2024, the average export price of Vietnam's pepper reached 4,443 USD/ton, up 0.2% compared to April 2024 and up 43% compared to May 2023. In the first 5 months of 2024, the average export price of Vietnam's pepper reached 4,290 USD/ton, up 38.7% over the same period in 2023.

Pepper price growth is forecast to slow down, but prices will remain high due to limited supply and increased demand. In producing countries such as Brazil, Indonesia and Vietnam, this year's crop output is forecast to decrease. According to statistics from the Ministry of Agriculture and Rural Development , Vietnam's pepper growing area in 2023 will reach 120,000 hectares, with an output of 190,000 tons. Pepper output in 2024 is estimated to continue to decrease to 170,000 tons, the lowest level in the past 5 years.

Source: https://congthuong.vn/hoa-ky-la-thi-truong-nhap-khau-ho-tieu-lon-nhat-cua-viet-nam-328750.html