According to the Vietnam Pepper and Spice Association (VPSA), in the first 15 days of October 2024, Vietnam exported 9,039 tons of pepper with a total export turnover of 58.3 million USD. Previously, the VPSA said that in the first 9 months of the year, Vietnam exported 200,894 tons of pepper of all kinds. Black pepper reached 177,953 tons, and white pepper reached 22,941 tons. Total export turnover was 991 million USD, of which black pepper reached 781.9 million USD and white pepper reached 142.1 million USD.
The US remained the main export market in the first half of October, accounting for 31.7% of the market share with a volume of 2,865 tons.
Compared to the same period in 2023, exports decreased by 1.7%. However, export turnover increased to 46.1%. The average export price of black pepper in 9 months was 4,852 USD/ton, and white pepper 6,461 USD/ton. This was up 40.9% for black pepper and 30.4% for white pepper compared to the same period last year.
Thus, from the beginning of the year to October 15, pepper exports reached 209,933 tons of pepper of all kinds. Total export turnover exceeded 1 billion USD and reached 1.0493 billion USD.
Pepper exports exceed 1 billion USD.
In the opposite direction, in the first half of October 2024, Vietnam imported 2,295 tons with a total import turnover of 13.7 million USD. Indonesia was the main supplier of pepper to Vietnam with 1,824 tons, accounting for 79.5%.
By mid-October, Vietnam imported 26,073 tons of pepper. Total import turnover was 115.7 million USD.
The Import-Export Department (Ministry of Industry and Trade) forecasts that world pepper prices will remain high in the short term due to limited supply. Brazil and Indonesia are in the harvest. Meanwhile, world demand has not increased sharply, along with China’s not buying much. As a result, prices are only likely to increase slightly.
However, in the long term, pepper export prices will be supported because Vietnam’s output in 2025 is expected to decrease. The pepper crop in 2025 in Vietnam will be almost entirely harvested in February. Some regions may last until March and April, 1-2 months later than previous years due to prolonged drought.
Today, domestic pepper prices have increased by 500–11,000 VND/kg in some provinces and cities, ranging from 143,000–144,500 VND/kg.
In Dak Lak and Dak Nong, traders are buying black pepper at the highest price of 144,500 VND/kg. In Dong Nai and Ba Ria-Vung Tau, the price of pepper is 143,500 VND/kg. In Binh Phuoc and Gia Lai, the price is at the lowest price of 143,000 VND/kg.
In the world market, the price of Indonesia’s black pepper Lampung is listed at 6,794 USD/ton. White pepper Muntok price is stable at 9,302 USD/ton.
The price of Brazil’s black pepper ASTA 570 is traded at 6,400 USD/ton.
In Malaysia, the price of black pepper Kuching remains at 8,700 USD/ton. The price of white pepper remains at 11,200 USD/ton.
The price of Vietnam’s black pepper 500 g/l and 550 g/l is in the range of 6,500 – 6,800 USD/ton. White pepper reaches 11,200 USD/ton. The price of white pepper in Malaysia went sideways at $11,200/ton.