Vietnam has been leading the world in the production and export of pepper for more than 20 years, accounting for 40% of the harvest and 60% of the global export market share.
The global pepper market is valued at 5.43 billion USD per year and is expected to have an average growth rate of more than 20% in the period 2024–2032. In addition to the domestic plating area, Vietnam is increasing imports of this spice from many markets to strengthen its position as the world leader in exports.
According to preliminary statistics from the Vietnam Pepper Association (VPA), Vietnam’s pepper imports in July reached 1,855 tons with a value of 10.7 million USD, down 4.9% compared to June.
Vietnam owns a spice that accounts for 60% of the world’s export output.
In the first 7 months of the year, Vietnam imported 19,557 tons of pepper of all kinds, with a turnover of more than 80.3 million USD. This was an increase of 15% in volume over the same period in 2023. Notably, Brazil, Cambodia, and Indonesia were the three largest suppliers of pepper to Vietnam, reaching 7,322 tons, 6,485 tons, and 4,211 tons, respectively.
Regarding the structure of imports, black pepper reached 17,443 tons and white pepper reached 2,414 tons. Total import turnover reached 80.3 million USD, compared to the same period in 2023. The import volume increased by 14.9%.
In the opposite direction, in the first 7 months of the year, Vietnam exported 164,357 tons of pepper of all kinds. Total export turnover reached 764.2 million USD. Export volume decreased by 2.2%; however, export turnover increased to 40.8%.
The average export price of black pepper in 7 months was 4,568 USD/ton, and white pepper was 6,195 USD/ton, up 32.7% and 25.0%, respectively, over the same period in 2023. Vietnam’s pepper and spices have been exported to more than 120 countries and territories, dominating many important markets.
According to the VPA, Vietnam’s pepper production in 2024 is estimated to decrease by 10% compared to 2023, to about 170,000 tons—the lowest level in the past 5 years. The area of pepper cultivation is also declining as farmers switch crops, while the pepper supply in the global market is nearly 100,000 tons short of demand.
It is forecast that in the coming time, when supply is scarce, countries will increase their imports, especially China. In May, Vietnam’s pepper exports to China reached 3,137 tons, an increase of 4.8 times compared to the previous month and the highest level in the past 11 months.
According to the Import-Export Department of the Ministry of Industry and Trade, the price of pepper in producing countries will continue to remain high due to increased demand. Meanwhile, the supply from producing countries such as Indonesia, Brazil, Malaysia, or Cambodia is not enough to compensate for the reduced exports from Vietnam. Currently, consumers around the world are willing to pay a high price for high-quality pepper.
In particular, the US, EU, and Middle East markets have increased the demand for products that meet the sustainability of social, environmental, and economic aspects throughout the supply chain.