In recent years, the pepper market has experienced significant fluctuations but also holds great potential for development. As one of the largest pepper-producing countries in the world, Vietnam not only plays a crucial role in supplying pepper to the global market but has also made considerable progress in enhancing the quality and value of this spice.

1. Production

  • Vietnam is the largest producer and exporter of pepper in the world, accounting for over 50% of the global export market share.
  • Pepper production in Vietnam has undergone many fluctuations in recent years. Significant growth in both acreage and production has helped Vietnam maintain its leading position in the global pepper market. However, challenges from climate change, diseases, and market fluctuations require the Vietnamese pepper industry to continuously improve and adopt sustainable farming practices. With the right strategies, Vietnam’s pepper production can stabilize and continue to grow in the future.

2. Prices

  • Last year, due to the global economic downturn, sustained high inflation, prolonged geopolitical tensions, and significant volatility in the global financial markets, the pepper trade faced numerous challenges. 
  • According to data from the General Department of Customs, in 2023, Vietnam exported 267 thousand tons of pepper, earning 912 million USD, which represents a 16.6% increase in volume but a 6.0% decrease in value compared to 2022. The average export price of Vietnamese pepper reached approximately 3,420 USD per ton in 2023, a decrease of 19.4% compared to 2022.

Reference information here.

3. Export market

  • The Vietnam Pepper Association (VPSA) stated that the statistics from member companies are slightly lower than the Customs figures.
  • Specifically, in December 2023, Vietnam exported 20,227 tons of various types of pepper, a decrease of 0.3% compared to November 2023; of which black pepper accounted for 17,833 tons and white pepper 2,394 tons. The export turnover of pepper in December 2023 reached 77.6 million USD, a decrease of 0.7% compared to November 2023. The average export price of black pepper in December 2023 was 3,728 USD per ton, the same as in November 2023, and the price of white pepper was 5,189 USD per ton, an increase of 112 USD compared to November 2023.
  • The US continued to be the main export market for Vietnamese pepper in December 2023, accounting for 30.7% of the export market share, reaching 6,212 tons, an increase of 13.8% compared to the previous month. Following were the UAE with 1,271 tons, China with 1,030 tons, and India with 1,011 tons.
  • According to VPSA, in 2023, the country exported a total of 264,094 tons of various types of pepper, an increase of 13.8% compared to 2022. The total export turnover reached 906.5 million USD, a decrease of 8.0%; of which black pepper reached 770.6 million USD and white pepper 135.9 million USD.
  • Asia was the largest export market for Vietnamese pepper in 2023, accounting for 52.7% of the market share. China led with 22.8% of the export market share, reaching 60,135 tons, an increase of 174% compared to 2022.
  • Following were India: 12,812 tons, accounting for 4.9% and an increase of 4.2%; UAE: 12,132 tons, accounting for 4.6% and a decrease of 24.7%; Philippines: 8,021 tons, accounting for 3.0% and an increase of 27.5%. The Americas was the second largest export market, accounting for 22.8% and an increase of 0.3%, with the US being the second largest export market for Vietnamese pepper, reaching 54,271 tons, accounting for 20.5% and a decrease of 0.8% compared to last year.
  • Exports to European markets accounted for 19.5%, a decrease of 1.4% compared to last year. Exports to African markets increased by 7.8%.

Reference information here.

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