The Import-Export Department (Ministry of Industry and Trade) forecasts that Vietnam’s pepper exports will be more vibrant in the remaining months of the first quarter of 2023. The reason is that Vietnam has just finished the harvest season with abundant pepper production.
According to the Import-Export Department, in Jan 2023, Vietnam’s pepper exports decreased in both quantity and value. However, there are some positive factors showing that it will be better in the first quarter of 2023.
Specifically, the data of the General Department of Customs shows that Vietnam’s pepper exports in Jan 2023 reached 12,553 tons, worth 43.2 million USD. This result is down by 38.6% in quantity and 41.2% in value compared to Dec 2022; compared to Jan 2022, it is down by 20.5% in quantity and 41.8% in value.
Pepper exports show signs of recovery.
In terms of export prices, in Jan 2023, the average export price of Vietnam’s pepper reached 3,442 USD/ton, which is down 4.3% compared to Dec 2022 and 26.8% compared to Jan 2022. In particular, the average export price of pepper to most major export markets decreased compared to the previous month and the same period in 2022. Notably, the average export price of Vietnam’s pepper to the Philippines and Japan increased by 30.3% and 30% respectively compared to Dec 2022.
In terms of market structure, in Jan 2023, pepper exports to many key markets decreased compared to Dec 2022, except for India, Egypt, Japan, and Senegal. Compared to Jan 2022, pepper exports to the US, India, the Philippines, Japan, and the UK decreased, but exports to Egypt, Thailand, and Senegal increased.
According to the Import-Export Department, the situation of pepper export in Jan 2023 is positive when there are two long Tet holidays in this month. In the coming months of the first quarter of 2023, pepper exports will be better because the recovery of purchasing power from China has brought new expectations for Vietnam’s pepper exports.
According to the Ministry of Industry and Trade, pepper prices in the domestic market continue to increase in some key localities, fluctuating from 61,500 to 65,000 VND/kg.
Specifically, the pepper price in Gia Lai is at the lowest level of the market at 61,500 VND/kg, in Dong Nai 62,000 VND/kg; Dak Nong, Dak Lak 63,000 VND/kg; Binh Phuoc 64,000 VND/kg and Ba Ria – Vung Tau at the highest level of 65,000 VND/kg./.