In the 10 months of 2023, pepper exports earned 750.8 million USD

According to preliminary statistics of the Vietnam Pepper Association, in October 2023, Vietnam exported 19,193 tons of pepper of all kinds, with a total export turnover of 72.7 million USD. Compared to September 2023, pepper export volume increased by 15.4%, turnover increased by 17.3%. The average export price of black pepper in October 2023 reached 3,664 USD/ton, white pepper reached 5,211 USD/ton, down 0.7% for black pepper and up 1.1% for white pepper compared to September/ 2023.

China is still Vietnam's largest pepper export market

In October 2023, the US market accounted for 26.9% of Vietnamese pepper exports reaching 5,169 tons and increased by 34.5% compared to the previous month. Next, the Chinese market reached 1,738 tons, down 21.9% over the previous month; Indian market reached 1,300 tons, up 31% over the previous month...

The main exporting enterprises in October included: Nedspice reached 1,921 tons, an increase of 46.3%; Olam Vietnam reached 1,918 tons, an increase of 44.0%; Phuc Sinh reached 1,113 tons, down 19.9%; Harris Freeman reached 1,028 tons, an increase of 50.7% and Pearl reached 894 tons, a decrease of 13.2%...

By the end of October 2023, Vietnam exported 223,578 tons of pepper of all kinds, of which black pepper reached 200,571 tons and white pepper reached 23,007 tons. Total export turnover reached 750.8 million USD, of which black pepper reached 640.2 million USD, white pepper reached 110.6 million USD.

Compared to the same period last year, pepper exports increased by 14.6%, however export turnover decreased by 11.7%. The average export price of black pepper in the 10 months of 2023 reached 3,553 USD/ton, white pepper reached 5,082 USD/ton. Compared to the same period last year, black pepper export price decreased by 17.6% for black pepper and 15.6% for black pepper. % for white pepper.

Nedspice is the largest pepper export enterprise in 10 months reaching 15,462 tons, an increase of 8.5% over the same period in 2022. Next are some leading export enterprises in the Vietnam Pepper Association including: Olam Vietnam reached 15,326 tons; Pearl reached 14,144 tons; Phuc Sinh reached 12,720 tons and Haprosimex JSC reached 9,015 tons.

In the first 10 months of 2023, China is still Vietnam's largest pepper export market reaching 57,723 tons, accounting for 25.8% market share and increasing 265.3% over the same period, however, the import volume in recent months of China is on a downward trend after purchasing enough goods from the first 2 quarters of the year.

The United States is Vietnam's second largest pepper export market with 42,600 tons, accounting for 19.1% of the market share and a decrease of 6.3% over the same period.

The European region accounted for 19.0% of the export market share and decreased by 4.8% over the same period, of which Germany decreased by 7.4% to 7,754 tons, the Netherlands decreased by 4.7% to 6,582 tons, and Russia down 8.1% to 4,662 tons, UK down 8.1% to 4,077 tons.

Pepper exports to the Indian market reached 10,538 tons, down 8.5% over the same period; UAE market reached 10,025 tons, down 29.8% over the same period.

Pepper exports to Korea, Japan, and Pakistan also decreased while exports to the Philippines, Thailand, Iran, and Saudi Arabia increased over the same period.

The two markets Türkiye and France recorded a sharp increase in exports of 69.7% and 31.1%, reaching 3,900 tons and 3,097 tons, respectively.

Pepper exports to the African market increased by 9.9%, of which Egypt increased by 30.1% to 3,687 tons, South Africa increased by 10.5% to reach 1,957 tons and Senegal increased by 35.6% to reach 1,863 tons.

The export market still lacks signs of improvement

The Import-Export Department (Ministry of Industry and Trade) forecasts that pepper exports will remain at a low level because domestic supply is no longer abundant and consumption demand in the US and EU markets has not really improved. Currently, the amount of exported pepper originating from Vietnam has run out.

In the last months of this year, businesses will export from imported goods and pre-existing inventory. It is estimated that the total amount of inventory and imports is about 80,000 tons, while domestic consumption is about 10,000 tons and the amount of inventory transferred to next year is about 30,000 tons, leaving about 50,000 tons for export in the last months of the year. now.

The Vietnam Pepper Association said that in the period from May to July, pepper trading in Vietnam is vibrant because the harvest has just ended and the pepper is still new. However, in the third and fourth quarters, customers will look to countries like Brazil and Indonesia to buy because this is the time of pepper harvest in these two countries.

According to the Vietnam Pepper Association, there is currently not much actual pepper inventory left among the public, most of which is only left in agents and some speculators. Meanwhile, some processing enterprises already have enough goods to process at the end of the year so there is no real need to buy at this time.

In the long term, Vietnam's pepper supply is forecast to be in short supply due to fierce competition from other crops such as durian and passion fruit.

Ms. Hoang Thi Lien - President of the Vietnam Pepper Association said that if the cutting of pepper to switch to growing fruit trees is prolonged, it is possible that in the next 3 years there will be a shortage of supply. "If Vietnam's output declines deeply in the next 3 years due to a strong wave of crop shifting, it may cause farmers to "miss out" on pepper prices, Ms. Hoang Thi Lien shared .

Regarding the market, Ms. Hoang Thi Lien commented that in the context of economic recession, the Russia-Ukraine conflict, and the Israel-Palestine conflict affect the global market, including oil prices and the world trade situation. gender in general.

Many countries are in a state of foreign currency scarcity. Vietnam is dependent on the export market, so it has witnessed a decline in commodity industries in general, and the pepper and spice groups are no exception.

In addition, macro management policies, purchasing power, and consumption power of major markets, including the US and EU, which are key markets of Vietnam, will likely be difficult to recover in the short term.