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ActionsVietnam’s pepper market share in China increased to nearly 37%
23/02/2024
Vietnam's pepper market share in China's total imports increased from 32.4% in 2022 to 36.6% in 2023.
According to the Ministry of Industry and Trade, in 2023, China imported pepper from 25 countries and territories around the world. In particular, Indonesia is the largest pepper supplier to China in 2023, with a volume of over 4,000 tons, worth USD 17.63 million, a decrease of 11.5% in volume and a decrease of 19.5% in value compared to 2022.
Indonesia's pepper market share in China's total imports decreased from 52.1% in 2022 to 44.09% in 2023.
Meanwhile, Vietnam is the second largest pepper supplier to China in 2023, reaching approximately 3,360 tons, worth USD 13.23 million, an increase of 18% in volume and an increase of 1% in value compared with 2022.
Vietnam's pepper market share in China's total imports increased from 32.39% in 2022 to 36.57% in 2023.
China's annual pepper import demand of about 65,000 - 70,000 tons. Normally, after the Lunar New Year, Vietnam is in peak autumn season, which is also the time when Chinese traders increase search for sources of goods.
In 2023, China increased pepper imports from the Brazilian and Malaysian markets, but decreased from India.
In 2024, China's pepper import demand is forecast to increase compared to 2023. This is an opportunity for pepper exporters around the world.
According to data calculated from the General Administration of China Customs, the country's pepper imports in 2023 reached 9,180 tons, worth USD 39.75 million, an increase of 4.5% in volume, but a decrease of 6.1% in value compared to 2022.
Regarding price, in 2023, China's average import price of pepper from the world reached USD 4,328/ton, a decrease of 10.2% compared to 2022. In particular, China's average import price of pepper from most sources decreased, except India, which increased by 14.5% to USD 6,493/ton.
Kylie Nguyen
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