Vietnam: Pepper exports hit $353 million in four months amidst soaring prices

Published 2024년 5월 8일

Tridge summary

Vietnam has experienced a notable increase in the value of its pepper exports in the first four months of the year, earning $353 million from 83,783 tonnes, despite a decrease in volume. The export price of pepper has risen for the fourth consecutive month to an average of $4,342 per tonne, 37.4% higher than the previous year, due to reduced supplies from Vietnam and Brazil impacted by El Nino. The country has seen significant growth in pepper imports from new markets like Pakistan, Germany, South Korea, and India. Despite Vietnam's dominance in the global pepper market, controlling 40% of the output and 60% of exports, its pepper prices are the lowest. However, domestic prices have risen, and there are expectations that the industry could reach the $1 billion export milestone this year due to the continued high prices.

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Original content

Pepper export continued to enjoy high export prices in April, enabling Việt Nam to earn US$353 million from this 'black gold' export in the first four months. In April, Việt Nam exported 27,000 tonnes of pepper, fetching $117 million, representing a slight increase of 2.2 per cent in volume but a significant surge of 40.4 per cent in value compared to the same month last year, data from the Ministry of Agriculture and Rural Development showed. Ending April, pepper exports reached 83,783 tonnes, worth $353 million, marking a decrease of 18.3 per cent in volume but an increase of 11.5 per cent in value year-on-year. The pepper export price in April climbed for the fourth consecutive month, averaging $4,342 per tonne, up 37.4 per cent compared to the previous year. Over the first four months, the average export price reached $4,214 per tonne, showing an increase of 36.4 per cent year-on-year. Many new markets, including Pakistan, Germany, South Korea and India, have significantly ...

Source: WTOCenter