Vietnam: Many challenges in the 2024 pepper crop

Published 2024년 2월 27일

Tridge summary

Vietnam's pepper industry, which exported over 264,000 tons of pepper in 2023, is expected to face significant challenges in 2024 due to decreased demand, price fluctuations, and competition from other pepper-growing countries. Strict pesticide residue levels, climate change, rising prices of other crops, and increased shipping rates are also posing challenges. The Vietnam Pepper and Spice Association predicts a 10.5% decrease in pepper output in 2024 due to climate change. This, coupled with high prices of Indonesian pepper and drought in Brazil, is likely to result in Vietnam's pepper exports reaching the lowest level in the last five years.

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

Original content

The year 2023 has many ups and downs In 2023, Vietnam exported 264,094 tons of pepper of all kinds, of which black pepper reached 236,148 tons, white pepper reached 27,946 tons. Total export turnover reached 906.5 million USD, including 770.6 million USD of black pepper and 135.9 million USD of white pepper. Compared to 2022, export volume increased by 13.8%, however, export turnover decreased by 8% due to an average decrease in export prices of about 420 USD/ton for black pepper and 635 USD for white pepper. At the recent 2024 Annual Conference of the Vietnam Pepper and Spice Association (VPSA), Mr. Nguyen Tan Hien, Vice Chairman of VPSA, pointed out a series of difficulties in the pepper industry in the past year. First, demand decreased in traditional markets such as Europe and the US because inventory after the Covid-19 pandemic was still high and the Russia-Ukraine war partly affected consumer demand in the pepper industry. In particular, in 2023, buyers will only buy at ...

Source: WTOCenter