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Vietnam's Pepper Exports Approaching $500 Million


Published Date: June 14, 2024
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Looking to Import pepper in bulk? Vietnam has exported 114,424 tons of pepper valued at 493.1 million USD so far this year; this is a decrease of 13.2% in volume but an increase of 20.6% in value over the exact same period last year. Compared to the same period in 2023, the average export price for black pepper is 4,197 USD per tonne, and for white pepper, it is 5,804 USD per tonne. These prices reflect an increase of 754 USD and 849 USD, respectively.

US Leads Vietnamese Spice Imports with Significant Growth

During that period, the United States was the biggest importer of Vietnamese spices, importing 30,466 tonnes, or 26.6% of the total and up 44.4% year over year. In certain markets, including Italy, Germany, and Russia, exports also surged dramatically, rising by 179%, 103.2%, and 49.7%, respectively. Vietnam has encouraged the sale of pepper to a number of established markets, including Egypt, the US, India, Germany, the Netherlands, and the Republic of Korea. Both the volume and value of exports to numerous markets increased significantly.

Global Pepper Supply Faces Decline

The Vietnam Pepper and Spice Association (VPSA) projects that this year's pepper production in Vietnam would be the lowest in the previous five years, at only 170,000 tons, a 10% decline from last year. Concurrently, there is a decrease in the supply coming from nations like Brazil, Indonesia, India, and even smaller suppliers like Malaysia and Sri Lanka.

Conclusion

In conclusion, higher prices along with robust demand from significant buyers such as the US and European markets have led to a considerable increase in the value of Vietnam's pepper exports, despite a decline in volume. This trend has been exacerbated by Vietnam's efforts to expand its exports and the worldwide fall in pepper supplies. Vietnam's pepper business continues to evolve and seize possibilities as it negotiates current market conditions.

If you want to import or Export Pepper in Bulk or agro commodities in bulk, Tradologie.com is the best B2B platform. It facialites the bulk transactions without any middlemen through its state-of-the-art SaaS platform. Visit www.tradologie.com to explore B2B export opportunities and stay updated with the latest trends in the industry. 

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