According to the Vietnam Pepper and Spice Association (VPSA), in the first 15 days of October, Vietnam exported 9,039 tons of pepper, with a total export turnover of VND 58.3 million. Thus, from the beginning of the year to October 15, pepper exports earned over USD 1 billion.

The United States remained the main export market, accounting for 31.7% of total exports with 2,865 tons, while Olam was the largest exporter, with 1,424 tons, accounting for 15.8%. Followed by Nedspice Vietnam with 945 tons, Phuc Sinh with 793 tons, Tran Chau with 761 tons, and Lien Thanh with 578 tons.

According to VPSA, as of the end of September 2024, Vietnam had exported 200,894 tons of pepper of all kinds, of which black pepper reached 177,953 tons and white pepper reached 22,941 tons. Total export turnover reached USD 991 million. Compared to the same period in 2023, the export volume decreased by 1.7%, however, the export turnover increased by 46.1%.

The reason is that the average export price increased sharply with the price of black pepper in the first 9 months reaching USD 4,852/ton, white pepper reaching USD 6,461/ton, an increase of 40.9% for black pepper and 30.4% for white pepper respectively compared to the same period last year.

Thus, from the beginning of the year to October 15, pepper exports reached 209,933 tons of pepper of all kinds, reaching a turnover of USD 1.04 billion.

In the opposite direction, in the first 15 days of October 2024, Vietnam also imported 2,295 tons, with a total import value of USD 13.7 million, mainly from Indonesia. Accumulated from the beginning of the year, Vietnam has imported 26,073 tons of pepper, with a total import value of VND 115.7 million.

The Import-Export Department (Ministry of Industry and Trade) forecasts that world pepper prices will remain high in the short term due to limited supply. Brazil and Indonesia are in the harvest season, while world demand is not significantly increased, along with China not buying in large quantities, leading to prices only being able to increase slightly.

However, in the long term, pepper export prices will still be supported, because Vietnam's output of this commodity in the 2025 crop is expected to decrease. The 2025 pepper crop in Vietnam will be harvested almost entirely in February, with some regions extending to March and April, 1-2 months later than previous years due to the impact of prolonged drought.

Kylie Nguyen