Việt Nam's pepper exports surpass $1 billion In first 10 months
Việt Nam's pepper exports surpass $1 billion In first 10 months
Việt Nam exported 18,415 tonnes of pepper in October, valued at US$120.6 million, the General Department of Customs has reported.
Farmers in Bình Phước Province take care of pepper trees. — VNA/VNS Photo |
This represents a 7.7 per cent increase in volume and a 9.1 per cent rise in value from the previous month, marking a 4.8 per cent decline in volume and a significant 65.3 per cent increase in value year-on-year.
For the first 10 months of this year, Việt Nam’s pepper exports totaled 218,732 tonnes, worth $1.11 billion, reflecting a 3 per cent decline in volume but a 47 per cent surge in value from the same period in 2023.
This marks the first time in a decade that pepper exports have crossed the $1 billion threshold, with projections for 2024 to reach a record $1.3 billion.
The sharp increase in export revenue is attributed to the average export price which rose 51.5 per cent year-on-year to $5,077 per tonne during the first 10 months.
The US was the largest market, accounting for 29.3 per cent of export volume and 30.4 per cent of revenue. Exports to the US reached 64,112 tonnes, valued at $337.8 million, up 48 per cent in volume and 95.2 per cent in value year-on-year.
Germany ranked second, with 14,346 tonnes worth $79.6 million, up 82.3 per cent in volume and 140 per cent in value. The UAE came third with 13,575 tonnes, up 35.9 per cent. Other markets such as the Netherlands, the Republic of Korea, Russia and Thailand also recorded double-digit growth.
Meanwhile, exports to China declined significantly, with the country dropping to sixth place, importing just 9,252 tonnes, an 84 per cent drop year-on-year.
Việt Nam remains the world’s leading pepper exporter, with an estimated harvest of 170,000 tonnes in the upcoming season. Notably, farmers are adopting organic practices to enhance productivity rather than expanding cultivation. Mixed farming, combining pepper with coffee and fruit trees, is becoming more common, improving sustainability and pest management.
Việt Nam has around 200 pepper processing businesses, including 15 key exporters that control 70 per cent of the market. The sector boasts 14 advanced processing plants and five foreign-invested companies, collectively holding 30 per cent of the export share. High-tech factories meeting international standards such as ASTA, ESA, and JSSA turn out diverse products, including black pepper, white pepper, ground pepper, and small packaged goods.
With strategic innovations and expanding global market access, Việt Nam’s pepper industry is well-positioned to maintain its global leadership.
