According to data reported by the Ministry of Agriculture and Rural Development, in April 2024, Vietnam exported 27,000 tons of pepper, worth 117 million USD. This result was up 4.2% in volume and 5.1% in turnover against the last month. Compared to the same period last year, it increased 2.2% in volume and 40.4% in turnover.

Accumulated in the first 4 months of 2024, pepper exports reached 83,783 tons, with a turnover of more than 353 million USD, down 18.3% in volume, but up 11.5% in turnover over the same period in 2023.

Pepper exports will reach 1 billion USD in 2024.

PEPPER PRICES CONTINUE TO RISE

Some large enterprises in the pepper industry said that up to now, they have signed orders with customers in Europe until September 2024. They are actively implementing the plan to prepare goods to meet both quantity and quality requirements for partners.

Since the beginning of the year, export and domestic prices of pepper have continuously increased. The average export price in April 2024 reached 4,342 USD/ton, up 0.8% over the last month and 37.4% over the same period in 2023.

Experts said that, in recent times, pepper is one of the hot agricultural products with an increase of about 30% compared to the same period last year. The main reason for the increase in prices is the decrease in production area of about 5,000 ha due to crop conversion and weather.

After many years of low prices, causing farmers to cut down this plant, their lives have improved. Good income from coffee, pepper, and durian helps them be active in selling and re-cultivating new crops.

PEPPER EXPORTS ARE CONFIDENTLY EXPECTED TO REGAIN 1 BILLION USD

Ms. Hoang Thi Lien – Chairwoman of the Vietnam Pepper Association (VPA), said that the positive impact on pepper prices in the past time came from the limited supply in the world. The El Nino has caused a decrease in global production, including the two largest pepper-growing countries, Vietnam and Brazil.

Looking at the long term, Ms. Lien said that in the next 3-5 years, pepper production is not enough for consumer demand. Buyers are looking forward to having a link so as not to create a mass number of orders in the market, bringing down the pepper prices. In other words, There is now a war between the buyers and sellers.

Assessing market trends, Ms. Lien said that starting from the second quarter of 2024, the Chinese market will show signs of participation in white and black pepper. This is expected to create a push to help domestic pepper prices exceed the 100,000 VND/kg mark in the second quarter of this year.

The VPA expects Vietnam’s pepper production in 2024 to increase to 225,000 tons from an estimated 200,000 tons of last year’s crop.

According to the forecast of the VPA, the price will continue to increase in the coming time, which will help the pepper industry reach 1 billion USD this year. Although China reduced its purchases sharply, Vietnam’s pepper is likely to achieve the above goal thanks to low supply and diversified export markets./.