Preliminary report from Vietnam Customs General Department showed that in December 2023, pepper exports reached 20,285 tons of all kinds of pepper, equivalent to $77.56 million, up 0.2% in volume and slightly down 0.2% compared to the previous month. Total pepper exports in 2023 reached 265,897 tons, worth $910.5 million, up 16.3% in volume and down 6.2% in value compared to the same period in 2022.
Average export price for black pepper reached $3,585 per ton, white pepper reached $5,091 per ton. In 2022, the export price for black pepper was $3,591 per ton, white pepper reached $5,095 per ton, a decrease of $420 for black pepper and $635 for white pepper.
Besides, pepper prices in major growing areas in Vietnam also continued to rise, fluctuating between 81,000 – 84,000 VND/kg.
Vietnam’s pepper industry showed positive processing capacity with processed products accounting for about 30% of total export turnover.
According to the Vietnam Pepper Association, Vietnam has become the world’s largest exporter of pepper since 2001, with total exports reaching 56,506 tons, accounting for 28% of the world’s total export. Vietnam has continuously been the leading country in pepper production and export since then.
A report in June 2021 by the General Statistics Office confirmed that Vietnam is always ranked first in the world in pepper production and export. Not only an exporter, but Vietnam has also become the world’s center for pepper production in the past 10 years.
Pepper exports are forecasted to remain at a low level due to the limited domestic supply. This will push up prices. The pepper inventory in 2023 transferred to 2024 will be the lowest in many years. This year’s pepper crop is forecasted to decrease by about 10-15%, reaching 160,000-165,000 tons.
