Vietnam: Pepper exports in 2024 will set a record of 1.3 billion USD

Published 2024년 10월 15일

Tridge summary

In September 2024, Vietnam experienced a significant surge in pepper exports, with a 10.4% increase in volume and an 84.9% increase in value compared to the same period last year, reaching 20,000 tons worth 125 million USD. From January to September 2024, pepper exports totaled 203,000 tons, earning over 1 billion USD, despite a slight decrease in volume but a substantial increase in value compared to the previous year. The average export price of pepper in this period reached 4,941 USD/ton, with September 2024 recording the highest average export price at 6,239 USD/ton. The United States continues to be the largest market for Vietnamese pepper, followed by the UAE, Hong Kong, and Germany. Pepper prices are expected to continue increasing due to the absence of Chinese suppliers and increased cultivation, with the 2025 crop output predicted to slightly increase. However, the history of overexpansion of pepper cultivation areas has led to supply exceeding demand in the past, resulting in low prices and farmer losses.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: trungtamwto.vn According to data just released by the General Department of Customs, in September 2024, Vietnam exported 20,000 tons of pepper, worth 125 million USD, up 10.4% in volume and 84.9% in value over the same period last year. In the first 9 months of 2024, pepper exports reached 203,000 tons, earning more than 1 billion USD, down 1.5% in volume but up 46.9% in value over the same period last year... Regarding export prices, the average in the first 9 months of 2024 reached 4,941 USD/ton, up sharply by 49.2% over the same period last year. Notably, in September 2024 alone, the average export price of pepper reached 6,239 USD/ton, an increase of 67.5% compared to September 2023, and this is also the month that recorded the highest export price in many years. EXPORTS INCREASED SHARPLY IN EUROPEAN MARKET, DECREASE IN ASIA However, the data announced by the Vietnam Pepper and Spice Association is lower than that of the General Department of Customs, causing pepper ...

Source: AgroInfo.vn