Vietnam is the largest supplier of pepper to the US, accounting for 23.5% of the total pepper export value.
Known as "black gold", Vietnamese pepper accounts for 60% of global output. According to preliminary statistics from the General Department of Customs, in 2023, Vietnam exported 267,000 tons of pepper, with an estimated value of 912 million USD, up 16.6% in volume but down 6% in value.
The reason for the decrease in export value is that the average export price of Vietnam's pepper decreased by 19.4% compared to 2022, reaching about 3,420 USD per ton in 2023.
In the structure of Vietnam's pepper export categories, black pepper accounts for 71.2%, the rest is white pepper and ground pepper.
Currently, the US is Vietnam's largest customer, accounting for 23.5% of the total export value of this item by the end of November 2023. Vietnam also holds the position of the largest pepper supplier to the US market.
China ranked second, accounting for 14.1%; followed by India and Germany, accounting for 5.4% and 4.3%, respectively, of the total export value of this item.
Vietnam accounts for a large market share in pepper exports in the world . Photo: Onmanorama
According to the Vietnam Pepper and Spice Association (VPSA), Vietnamese pepper has an advantage over some countries such as Indonesia, Malaysia, India, Sri Lanka, Cambodia... thanks to the benefits of EVFTA.
Currently, import tax on ground or crushed pepper exported to the EU has been reduced from 4% to 0%. In addition, the Vietnamese pepper industry is highly appreciated for its processing capacity with the proportion of processed goods accounting for about 30% of total export turnover.
Pepper exports are forecast to remain low due to the lack of domestic supply. This will push up prices. Pepper inventories from 2023 to 2024 will be the lowest in many years. This year's pepper crop is forecast to decrease by about 10-15%, estimated at 160,000-165,000 tons.
Surveys in pepper growing areas in Vietnam show that the growing area is gradually shrinking. Some places are affected by the weather, so the harvest output has decreased. Currently, black pepper is purchased by traders at 95,000 VND per kg; dried red ripe pepper costs up to 130,000 VND per kg. Compared to the same period last year, the price of pepper at this time has increased by about 30%. This is the highest price in the past 3 years.
Hong Chau
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