In analyzing a forecast, Ms. Hoang Thi Lien, President of the Vietnam Pepper Association (VPA), noted that the current export revenue of pepper and Spices Sellers has reached 1.4 billion USD. Under the current circumstances, this number might seem a little overly optimistic, but when the market returns to its pre-COVID state, the industry's growth rate is actually quite good. 

In the past, pepper exports totaled 1.1 billion USD. When demand is high and supply is limited, there will be pressure on prices, and the expected figure of 2 billion USD is feasible. The price will be better because the manufacturing process is becoming more standardized and because the amount of organic food produced is rising. 

Global Production 

The head of the Vietnam Pepper Association, Mr. Le Viet Anh, thinks that the 2023 pepper season in Vietnam is fairly optimistic, with an anticipated harvest output of 200,000 tons, up 9.3% from the previous year. Additionally, the International Pepper Community (IPC) predicts that other producing nations like Brazil, Indonesia, and India will all see lower harvests than they did in 2022. 

According to estimates, 526 thousand tons of pepper will be produced worldwide in 2023, down from 537.6 thousand tons in 2022. It is anticipated that Vietnamese cinnamon production will rise from 2022 to 2023 and total about 45,000 tons. 

Revenue Generated 

In 2022, the pepper and spice sector helped generate export earnings of over 1.4 billion USD and in the industry, pepper accounted for 69.4% while cinnamon accounted for 20.6%. The contribution of Star Anise 5.1%, nutmeg and mace 2.3%, ginger and turmeric 1.6%, and chili peppers 0.8% was also significant.

The Vietnam Pepper Association reports that in Q1/2023, Vietnam exported 76,727 tons of pepper, bringing in 235.9 million USD, up 40.5% in volume but down 7.3% in value from the same period the previous year. Additionally, exports of cinnamon increased by 13.8% in value and 45.8% in quantity to 18,685 tons with a value of $54.8 million. Exports of star anise increased by 261.9% to 3,369 tons worth 21.6 million USD. 

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