Vietnam: Peppercorn exports to China are down more than 80%

Published 2024년 8월 8일

Tridge summary

The Vietnam Pepper and Spice Association reports a significant shift in the global pepper market, with China's import of Vietnamese pepper dropping to the fifth place behind the United States, Germany, India, and the UAE. This shift is attributed to China's domestic pepper prices being lower than imported goods and slower economic growth, leading to decreased spending and sufficient inventories. Despite this, the total export volume of Vietnamese pepper remains steady, with notable increases in exports to the United States and Germany. The export turnover has seen a substantial increase due to rising pepper prices, but domestic prices have since fallen due to decreased global consumption. The VPSA anticipates that demand from the Chinese market is unlikely to improve in the second half of the year. With Vietnam's pepper industry holding a significant share in the global market, the outlook remains positive for growth in the long term.

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Original content

According to the Vietnam Pepper and Spice Association (VPSA), China, which used to be the second largest market for Vietnamese pepper, has now dropped to fifth place, after the US, Germany, India and the UAE. The export output of this agricultural product from China as of the end of July decreased by nearly 85% compared to the same period last year, over 8,000 tons. Meanwhile, the US imported up to 43,349 tons of this spice, up more than 48% over the same period. Germany also imported 10,941 tons, and the UAE imported 10,897 tons of Vietnamese pepper. According to businesses, China's reduced purchases are due to the country's domestic pepper prices being lower than imported goods. In addition, the world's second largest economy grew more slowly than expected in the first half of this year, so people's spending needs decreased and inventories were still sufficient. China reduced its purchases, but the total export volume of Vietnamese pepper still reached 164,357 tons in the ...

Source: VNExpress