Pepper export value surges by 30%

However, this marked a 6.8% year-on-year decline in volume, according to the Vietnam Pepper and Spice Association.

The U.S. remains the largest importer of the Vietnamese spice with 37,435 tons, surging by 44.6% year-on-year, accounting for 26.3% of the market share.

Exports also skyrocketed to some markets such as Germany, the Netherlands, India, and the UAE, rising by 106.7%, 52.1%, 45.7%, and 15.2%, respectively.

Businesses attributed the situation to the continuous increase in pepper prices in the last six months. Currently, the average export price rose by US$1,000 per ton compared to the same period last year. The average export price of black and white pepper was over $4,300 and $6,000 per ton, respectively.

On the other hand, Vietnam imported over 18,000 tons of pepper worth $69.6 million in the January – June period, up 18.9% in value compared to the same period last year. Brazil, Cambodia, and Indonesia are the biggest suppliers of pepper for Vietnam.