According to statistics from the Customs Department, in September, Vietnam exported over 20,000 tons of pepper, with a value of over 136 million USD. This is a decrease of 4.6% in volume and 2.5% in value compared to August.
In the first three quarters of the year, Vietnam exported over 186,000 tons of pepper, worth over 1.2 billion USD. Although the volume decreased by 6.9%, the value increased by a remarkable 27.6% compared to the same period in 2024.
Average export prices increased significantly, with black pepper reaching 6,647 USD/ton (up 1,795 USD) and white pepper reaching 8,716 USD/ton (up 2,254 USD) compared to the same period in 2024.
In terms of the market, the US remains the largest customer for Vietnamese pepper, with nearly 42,000 tons, worth over 312 million USD. Although there was a 28% decrease in volume, the value increased by 4.3% compared to the first nine months of 2024.
Pepper exports in 9 months exceeded the total for the entire year of 2024.
From the beginning of the year, the largest pepper exporting countries to the United States are Vietnam, Indonesia, India, Brazil, and China. Vietnam continues to be the largest supplier to the US market, accounting for 64.4% of the total pepper imports. The advantage of lower tax rates compared to Brazil or India, along with stable supply capacity, provides a basis for the recovery of Vietnam’s pepper exports to the US in the coming time.
Germany is the second-largest market, with over 13,000 tons, valued at nearly 100 million USD. These figures represent a 1% increase in volume and a significant 43% increase in value compared to the same period in 2024.
India ranks third with over 10,000 tons, valued at over 71 million USD, an 8% increase in volume and a 64% increase in value compared to 9 months of 2024.
Currently, the pepper harvest in Vietnam has ended, with an estimated production of 180,000 tons, a decrease of 10,000 tons compared to 2024. This is due to the lack of expansion in new pepper planting areas during the past year.
The failure to expand the planting area, along with unfavorable weather, contributed to the limited supply. This scarcity is what made domestic pepper prices go against the global trend.
The VPSA also forecasts that global pepper prices will increase in the second half of the year as demand from major markets increases, creating more favorable conditions for Vietnam’s pepper exports.
On the world market, at the close of the most recent trading session, according to data from the International Pepper Community (IPC), the price of Indonesian Lampung black pepper increased by an additional 1 USD/ton, reaching 7,234 USD/ton.
Conversely, the price of Brazilian ASTA 570 black pepper decreased by 100 USD/ton to 6,100 USD/ton, the lowest level in the market.
In Malaysia, the price of Kuching black pepper is 9,500 USD per ton.
According to the VPSA, export demand to major markets such as China, India, and Europe remains stable. However, the buying has slowed somewhat as importers want to wait for prices to adjust lower.
In the domestic market, growers don’t have much inventory, but purchasing power is temporarily weak due to a wait-and-see mentality. The market is currently in a slowdown, with both buyers and sellers waiting for the next developments.