The Vietnam Pepper and Spice Association (VPSA) said that by the end of November 2024, Vietnam had exported 235,335 tons of pepper of all types, including 207,498 tons of black pepper and 27,837 tons of white pepper.
The total export turnover reached over 1.2 billion USD, with black pepper accounting for over 1 billion USD and white pepper for 181.5 million USD. Compared to the same period in 2023, the export volume decreased by 3.5%; however, the export value increased by 46.9%.
Experts believed that pepper prices will rise significantly in 2024 thanks to the markets in the US, Europe, and the Middle East.
Currently, pepper prices are stable at a high level, so farmers are very excited. The shortage of supply will support the increase in pepper prices in the coming time.
At the end of the latest trading session, the IPC listed the price of Lampung black pepper from Indonesia at 6,841 USD/ton, a slight decrease, similar to the price of Muntok white pepper at 9,141 USD/ton.
Pepper prices are stable at a high level.
The price of ASTA 570 black pepper from Brazil remains stable at 6,275 USD/ton. The price of ASTA black pepper from Malaysia is 8,200 USD/ton, and the price of ASTA white pepper from this country reaches 10,400 USD/ton.
The price of Vietnamese black pepper has increased slightly to 6,300 USD/ton for the 500 g/l type, while the 550 g/l type has remained at 6,600 USD/ton. The price of white pepper is unchanged at 9,400 USD/ton.
The pepper exports of Brazil, the second-largest supplier in the world after Vietnam, only reached 57,290 tons in 11 months of 2024. This was a sharp decrease of 21.8% compared to the same period last year.
According to the Brazilian National Foreign Trade Statistics Center (Comex Stat), Brazil exported 4,302 tons of pepper in November, an increase of 18.8% compared to the last month but a decrease of 43.5% compared to the same period last year.
With this result, Brazil’s total pepper exports in 11 months of the year only reached 57,290 tons, a sharp decrease of 21.8% (15,987 tons) compared to the same period in 2023. However, thanks to the high prices, the export revenue still reached 227.6 million USD, an increase of 13.3% compared to the same period last year.
The UAE became the main export market for Brazil’s pepper in 11 months of 2024, with a volume of 7,556 tons. This was an increase of 7.2% compared to the same period last year, accounting for 13.2% of the export market share of this South American country.
The Ministry of Industry and Trade predicts that in 2025, export activities will be favorable and have room for growth due to the cooling of global inflation and the recovery of international market demand.
Besides, the recovery of major markets such as the US or EU will be an important driving force for boosting exports. The business community is determined to utilize the momentum of export growth with market advantages, especially the new-generation FTAs.
In addition to the advantages, import-export activities also face some challenges. Accordingly, in 2025, the global geopolitical situation will continue to be complex and unpredictable with uncertainties.