Vietnam's pepper exports to South Korea increased by nearly 180%

Published 2024년 4월 25일

Tridge summary

In March 2024, Vietnam saw a significant increase in the average export price of pepper, reaching US$4,305/ton, a 44.5% surge compared to the previous year. Despite a 25.4% decrease in export volume in the first quarter of 2024, the export value increased by 1.1% compared to the same period in 2023. The country's pepper exports to several markets, including the United States, Germany, and the Netherlands, saw a notable increase, while exports to India, the UAE, and Egypt decreased. Remarkably, South Korea's import of Vietnamese pepper more than doubled, accounting for 3.8% of Vietnam's total pepper imports and 4% of its total pepper exports. Since 2001, Vietnam has been the world's leading pepper exporter, contributing 28% to the global total.

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Original content

In March 2024, the average export price of Vietnamese pepper reached US$4,305/ton, up 6.3% from February 2024 and a sharp increase of 44.5% from March 2023. The price has risen for the third time in a row since December 2023. In the first quarter of 2024, Vietnam's pepper exports reached 56,780 tons and the export value reached US$235.82 million. The export volume decreased by 25.4% year-on-year, but the export value increased by 1.1%. The average export price of Vietnamese pepper reached US$4,153/ton, an increase of 35.5% over the same period in 2023. Compared with the same period last year in March 2024 and the first quarter of 2024, Vietnam's pepper exports to the Indian, UAE and Egyptian markets decreased. On the contrary, pepper exports to many markets such as the United States, Germany, the Netherlands, Pakistan, Thailand, etc. increased significantly. Increase. In March, Vietnam exported 972 tons of pepper to South Korea, equivalent to more than 4.44 million US dollars. ...

Source: Foodmate