According to ministry statistics of the Vietnam Pepper and Spice Association (VPSA), pepper exports in the first 10 months of 2024 will decrease by 1.9% in volume but increase in value by 48% compared to the same period in 2023.

Specifically, in October 2024, Vietnam exported 18,493 tons of pepper of all kinds, an increase of 7.9% over the same period last year. Export figures in October reached 120.2 million USD, of which pepper export turnover reached 99.8 million USD and white pepper reached 20.4 million USD. The average export price of black pepper in October reached 6,284 USD/ton, down 28 USD, and white pepper reached 8,029 USD/ton, up 191 USD, according to VTV. Vietnam exported 219,387 tons of pepper of all kinds; of which black pepper reached 193,892 tons, white pepper reached 25,495 tons. Total export turnover reached more than 1.1 USD. Black pepper reached 881.6 million USD, white pepper reached 162.6 million USD. The United States is the largest export market of Vietnamese pepper, accounting for 28.5% reaching 62,553 tons, an increase of 46.8% over the same period last year. 

In the third quarter of 2024, pepper prices on the world market remained high, especially in August and September. The reason is said to be limited supply and increased import demand from markets. Furthermore, later that period, Vietnam's pepper exports significantly shifted. If in the second quarter of 2024 and the third quarter of 2023, Asia was Vietnam's largest pepper export region, then in the third quarter of 2024, there had been a shift to the Americas region.

It is expected that in early 2025, our country's pepper exports will be favorable thanks to the expected strong increase in purchasing demand from the Chinese market. Meanwhile, after Indonesia's most recent harvest, until February 2025, the world pepper supply had not yet had a significant addition. This is said to be a favorable factor when Vietnam enters the new harvest season of 2025, according to Industry and Trade.

Source: VPSA