Wed, 22nd May 2024 16:35 (GMT +7)

Pepper exports decrease in volume, increase in value

Wednesday, 08/05/2024 | 15:40:00 [GMT +7] A  A

Vietnam exported 83,067 tonnes of pepper worth 352 million USD in the first four months of this year, down 19.4% in volume but up 10.3% in value, the Vietnam Pepper and Spice Association (VPSA) has reported.

Pepper exports decrease in volume, increase in value (Photo: VNA)

The average export price of black pepper was 4,065 USD per tonne and white pepper 5,678 USD per tonne, up 19.4% and 14.5%, respectively, compared to the same period in 2023.

Asia currently accounts for 36.2% of Vietnam's total pepper exports, but in the reviewed period, export volume to the regional market decreased by 52% from the same period in 2023, with the biggest decrease from the China, down 95.2%, followed by UAE with 23%.

India is currently the largest importer of Vietnamese pepper in Asia in the period with 5,552 tonnes, accounting for 6.7% and up 23.9% over the same period. Exports also skyrocketed in some markets such as the Republic of Korea, Pakistan, and the Philippines with 157.4%, 59.7% and 18.5%, respectively.

The American market recorded a hike of 40.6% in the reviewed period, accounting for 30.2% of the market share, of which the US was Vietnam’s biggest pepper importer with 22,774 tonnes, a sharp rise of 45.2% year on year.

The European region accounted for 26.8% of Vietnam's pepper export market share, up 33.6% over the same period last year; in which German market grew at 104.7%, the Netherlands 52.8%, and Russia 68.7%.

Meanwhile, in the African region, exports decreased by 4.7%. However, the traditional market of Egypt is showing positive signs as exports increased by 10.7% to 1,977 tonnes after the government provided foreign currency support to pay for imports.

Source: VNA