The global pepper supply depends on Vietnam’s exports

It’s predicted that the pepper price will continue to remain high due to the increase in world demand. While supply from Indonesia, Brazil, Malaysia, and Cambodia is not enough to compensate for decreased exports from Vietnam. What is the Vietnam pepper price today? What are the fluctuations in the pepper market? Let’s find out in the post below!

Overview of current Vietnam pepper price and market today

On April 9th, pepper prices ranged from 3,67 – 3,73 USD/kg. In the past few weeks, pepper prices in Vietnam began to show signs of decreasing about 0,12 – 0,16 USD/kg, after reaching the peak at 3,85 USD/kg on March 8th.

Vietnamese pepper and spices are exported to more than 120 countries, dominating many important markets. VPSA’s preliminary statistics show that in the first 3 months of the year, Vietnam exported 56.712 tons of pepper of all kinds, with a total turnover of 235.6 million USD. In particular, black pepper reached 49,743 tons, worth 196.9 million USD, and white pepper reached 6,969 tons, reaching a turnover of 38.7 million USD. Compared to the same period last year, it decreased by 26.1% in volume and 0.1% in turnover.

The average export price of black pepper reached 3,966 USD/ton, white pepper reached 5,552 USD/ton, an increase of 562 USD for black pepper and 593 USD for white pepper respectively compared to the same period last year.

Brazil and Cambodia are the two main pepper suppliers to Vietnam, reaching 4,363 tons and 2,084 tons. However, over the same period, imports from Brazil decreased by 16.3% while imports from Cambodia increased by 66.5%.

Asia countries are the largest to import pepper from Vietnam, accounting for 37.7%, reaching 21,365 tons. However, compared to the same period, it decreased by 54.3%. India is the largest market importing Vietnam pepper, reaching 3,793 tons, an increase of 19.6%. Exports to China only reached 1,083 tons, a decrease of 95.8% over the same period. Exports to Korea reached 2,164 tons, a sharp increase of 179.9%.

The Americas region ranked second in importing Vietnam pepper, accounting for 29.7%. The United States was the largest export market, reaching 15,185 tons, an increase of 27.9% over the same period.

Exports to Europe account for 26.3%, increasing 24.7% over the same period in 2023. In particular, exports to Germany increased the most: 113.8% equivalent to 3,701 tons. Exports to the Netherlands increased by 76.9%. reached 2,598 tons.

The world depends on Vietnam’s pepper exports

In countries with large pepper production such as Brazil, the harvest season has been over, the main season in Indonesia and Malaysia is in July every year. On the other hand, Vietnam has just finished the harvest. Therefore, it can be said that from now until July 2024, the world depends on Vietnam’s pepper exports. Currently, Vietnam’s pepper accounts for 60% of the export market share, but export volume in the first 3 months of 2024 has decreased sharply by more than 26%.

Currently, consumers around the world are willing to pay high prices for high-quality pepper. In particular, the major markets such as the US, EU, Middle East, etc, increase the need to import products that meet sustainability in social, environmental and economic aspects throughout the supply chain. Therefore, Vietnam pepper prices still remain at a good level even though they have increased compared to the same period last year

The reason why Vietnam becomes the main supply source

According to the Vietnam Pepper Association (VPSA), Vietnam’s pepper harvest has just ended, so the phenomenon of hoarding and pushing up prices is unlikely to happen shortly. However, pepper prices are forecast to remain high. This year’s pepper crop was harvested early due to hot weather soon being affected by El Nino. The actual output is lower than VPSA’s expectation, estimated at only 140 to 150 thousand tons. Currently, Dak Nong province and other regions have finished harvesting, and Dak Lak province has also harvested about 40%.

According to Dak Nong Provincial Department of Agricultural Development, the whole province currently has 34,000 hectares of pepper, with an output of nearly 70,000 tons. Pepper farming in recent years has had many positive changes, moving towards organic and garden ecological diversity. The association of pepper production with quality certification and product consumption contracts is also increasingly expanding.

If you are looking for a source to import pepper, Vietnam pepper price today is the perfect choice for you. Pre-order with HAVIGO now before we run out of pepper!