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MARCH 21, 2023

According to information from the Vietnam Pepper and Spices Association (VPSA), in the first two months of 2023, Vietnam exported 40,814 tons of pepper with a turnover of 128.6 million USD, up 33% (10,138 tons) quantity but decreased by 9%, equivalent to 12.7 million USD in turnover compared to the same period last year.

China has surpassed the US to become Vietnam's largest pepper export market with 10,209 tons, an increase of 8.6 times over the same period last year and half of the amount of pepper that Vietnam exports to this market in the whole of last year.

Trung Quốc là thị trường xuất khẩu hồ tiêu lớn nhất của Việt Nam. Ảnh minh họa

In the same period in 2022, China's share of Vietnam's total pepper exports has increased to 25% from about 4%.

In February, the quantity of pepper exported to the Chinese market recorded the highest level since June 2020 with 8,485 tons, up to 392.2% compared to January and accounting for 30.1% of the export market share export.

Last year, due to the influence of the "Zero Covid" policy, Vietnam's pepper exports to the Chinese market only reached 20,498 tons, down 46.4% compared to 2021. This is also the lowest level in 5 years. However, the fact that China has completely opened its border since the beginning of this year after nearly 3 years of closure against the epidemic has helped Vietnam's pepper export activities to this market prosper again.

President of the Vietnam Pepper and Spices Association (VPSA) Hoang Thi Lien said that in the first two months of this year, the average export price of pepper was about $3,177 per ton, down 31.4% over the same period in 2022. This is also the reason why export turnover decreased by 9%. In particular, in February, the export price of pepper hit the lowest level for 1 year, about 3,006 USD/ton.

This year, the pepper harvest process is slow, on average, the whole country has only harvested 50-60% of the pepper quantity of the 2022-2023 crop year. In the first quarter, Vietnam's pepper trade will be more active because the harvest has just ended and the pepper is still new. In the third and fourth quarters, customers will look to countries such as Brazil and Indonesia to buy because this is the harvest time of these two countries.

Currently, Vietnam's pepper is at the top of the world and Vietnam is the largest producer and exporter of pepper in the world. In 2022, only pepper products , Vietnam exported more than 232,000 tons, export turnover of nearly 990 million USD.

If calculating the total export turnover of the whole pepper and spice industry, it currently reaches more than 370,000 tons, equivalent to over $1.4 billion.


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