Vietnam's pepper exports earn over 1.2 billion USD

Vietnam's pepper exports have reached a record high of over 910.5 million USD in 2023, with a total export volume of 23,900 tons less than expected due to the high price of pepper. The export price of pepper has significantly increased by 72.4% since January, reaching 6,501 USD/ton in October. The average export price of black pepper and white pepper in the first 11 months of the year was 5,073 USD/ton and 6,772 USD/ton, respectively. Domestic pepper prices in Vietnam also surged, leading to substantial profits for growers. The main markets for Vietnamese pepper are the US, Germany, and the United Arab Emirates, contributing to 44.1% of the industry's total export turnover. Experts anticipate that high export prices are likely to persist due to an expected decrease in Vietnam's pepper output in 2025 caused by prolonged drought, which may lead to a global pepper supply shortage in the next 3-5 years.

Source: giaothuong.congthuong.vn Vietnam's pepper export value has far exceeded the 910.5 million USD figure for the whole year of 2023, while the export volume is about 23,900 tons lower. This is also a record high for pepper since 2017. Pepper's return to its golden age is partly due to the high price of this commodity since the beginning of the year. In January this year, the export price of pepper was only at 4,003 USD/ton, by October it had jumped to 6,501 USD/ton, up 72.4% compared to the same period last year. According to the Vietnam Pepper and Spice Association (VPSA), the average export price of black pepper in 11 months reached 5,073 USD/ton, up 47.3% and white pepper reached 6,772 USD/ton, up 36.7% over the same period last year. In the domestic market, pepper prices increased rapidly from 80,000 VND/kg in January to 180,000 VND/kg in mid-June. After that, prices cooled down but remained at a high level, helping pepper growers in our country make a big profit. ...