Vietnam's pepper exports expected to hit new record of $1.3 billion in 2024

Published 2024년 11월 27일

Tridge summary

In October 2024, Vietnam's pepper exports experienced a month-on-month 7.7% increase and a year-on-year 9.1% increase, resulting in an export value of US$120.6 million despite a decrease in export volume by 4.8% from the previous year. From January to October 2024, the pepper exports totaled 218,732 tons, generating US$1.11 billion, marking a 47% increase in export value but a 3% decrease in export volume year-on-year. This growth is primarily due to a significant increase in the export price of pepper. The United States continues to be the largest market for Vietnamese pepper, followed by Germany and the UAE, while exports to China have seen a dramatic decrease. These trends are expected to result in a new record of US$1.3 billion in pepper exports in 2024.

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

Original content

According to data from the General Administration of Customs of Vietnam, in October 2024, Vietnam's pepper exports reached 18,415 tons, earning US$120.6 million, a month-on-month increase of 7.7% and a year-on-year increase of 9.1%. Compared with the same period last year, the export volume decreased by 4.8%, but the export value increased by 65.3%. From January to October 2024, Vietnam's pepper exports were 218,732 tons, earning US$1.11 billion. Although the export volume decreased by 3% year-on-year, the export value increased by 47%. After 10 years, Vietnam's pepper exports have exceeded US$1 billion again, and it is expected to set a new record of US$1.3 billion in 2024. The growth of pepper exports depends on the pepper export price of US$5,077/ton from January to October 2024, an increase of 51.5% over the same period last year. In terms of export markets, the United States is still the largest exporter of Vietnamese pepper from January to October 2024. The export market ...

Source: Foodmate