Vietnamese Pepper Export-Import Trends in Jan-24 and Pepper Production Forecasts in 2024

From January 1 to 15, 2024, Vietnam recorded exports of 7.6 thousand tons of pepper, generating a total export turnover of USD 29.9 million. Conversely, Vietnam pepper imports during this period amounted to 2,256 tons, resulting in a total import turnover of USD 7.8 million. Notably, 86% of the imports originated from Brazil, accounting for 1.9 thousand tons, while 9.6% came from Indonesia, totaling 216 tons. The forecasts from experts suggest a potential 10 to 15% decline in Vietnam's pepper production for 2024, estimating it to be within the range of 160 thousand to 165 thousand tons. Along with the lowest inventories in years, the anticipated supply shortage from Vietnam is poised to drive up pepper prices in 2024.

Unlike coffee, pepper is less affected by fluctuations in global financial markets. The primary determinant for pepper prices remains the balance between supply and demand among market participants.