Pepper exports anticipated to prosper ahead in second half of 2021

Vietnamese pepper exports look set to enjoy robust growth during the remaining months of the year due to major markets increasing their imports as part of efforts to make up for shortages over previous months, according to industry insiders.

According to details shared by the General Department of Vietnam Customs, the country exported 121,338 tonnes of peppers worth US$379.6 million during the opening five months of the year, a drop of 17.1% in volume but up 23% in value compared to the same period from last year.

Throughout the reviewed period, North American pepper imports from the Vietnamese market reached 27,398 tonnes, up 0.4% against the same period from last year, while pepper import volume also increased in the UK, France, Ireland, Italy, the Republic of Korea, Iran, and Japan.

The United States represents the largest consumer of Vietnamese peppers with 24,636 tonnes, an annual decrease of 0.4%, followed by China, India, the Philippines, Thailand, Saudi Arabia, and Bangladesh.

The export price of pepper over the five-month period increased by 48.3% to reach US$3,128 per tonne on-year.

Due to the sharp increase in export prices, although export activities decreased by 17% due to the adverse impact of the COVID-19 pandemic, pepper export turnover recorded a rise of 23% compared to the same period from last year.

Most notably, the local pepper industry has shifted its structure of exports to primarily focus on black peppers and ground white peppers, while exports of raw black and white peppers experienced a downward trend.

The export price of Vietnamese peppers is projected to rise moving forward due to the US, the EU, and Indian markets easing social distancing measures.