Vietnam has a series of export products that bring in billions of dollars. Notably, Vietnamese pepper accounts for 60% of the world’s export output. According to statistics, there are 100,000 pepper growers, 200 export enterprises, and 35 pepper processing factories nationwide.
The Vietnam Pepper Association (VPA) estimated that pepper production in 2024 will only reach about 170,000 tons, down 10% compared to last year. This is the lowest level in the last 5 years. Therefore, in addition to domestic supply, Vietnam also increases imports from other suppliers to maintain its position.
According to statistics from the VPA, Vietnam imported 1,491 tons of pepper in August 2024, equivalent to more than 8.2 million USD, down 20% in volume compared to last month. Brazil was the largest supplier of pepper to Vietnam, reaching 736 tons, an increase of 808.6% over July 2024. Next was Indonesia and Cambodia.
In the first 8 months of the year, Vietnam imported 21,348 tons of pepper. Turnover reached more than 88 million USD, up 12.3% over 2023. Vietnam’s pepper imports mainly came from Brazil with 8,058 tons, down 30.5%. Notably, imports from Cambodia reached 6,635 tons, a sharp increase of 96.1% over the same period last year. Indonesia was the third-largest market with 4,530 tons, up 95%.
Vietnam’s pepper accounts for 60% of the global market share.
In terms of the import structure, black pepper reached 18,657 tons, and white pepper reached 2,691 tons.
In the world spice cart, pepper now accounts for a large proportion and plays an important role in culinary culture. In particular, pepper products are promoted for processing in pharmaceuticals, cosmetics, and health care.
The pepper market size is valued at 5.43 billion USD and is expected to have an average growth of more than 20% in the period 2024-2032. In 2023, Vietnam exported 264,094 tons of pepper of all kinds, with a turnover of 906.5 million USD. Compared to 2022, the export volume in 2023 increased by 13.8%, but turnover decreased by 8% due to the decrease in export prices.
Experts forecast that pepper supply in the global market is in a shortage of nearly 100,000 tons over demand. In the coming time, when supply is scarce, countries will increase their imports, especially the Chinese market. At its peak in May, Vietnam’s pepper exports to China reached 3,137 tons, an increase of 4.8 times compared to April, and this was the highest level in the past 11 months.
According to the forecast of the Import-Export Department, Ministry of Industry and Trade, the price of pepper in producing countries will continue to remain high due to the increase in demand. Meanwhile, the supply from producing countries, such as Indonesia, Brazil, Malaysia, and Cambodia, is not enough to compensate for the reduced exports from Vietnam. Now, consumers around the world are willing to pay a high price for high-quality pepper.