Vietnam Herbs, Spices & Seasonings insights

Pepper price today, November 13, 2024, decreased by 2,200 VND. Currently, domestic pepper price is only trading around 138,000 - 139,000 VND/kg.

Domestic pepper prices today decreased slightly by VND500 to VND139,500 - 141,200/kg. The International Pepper Community (IPC) adjusted down pepper prices from Indonesia, Brazil and Vietnam, while keeping the price of Malaysian pepper unchanged.

According to preliminary statistics from the Vietnam Pepper and Spice Tree Association, Vietnam's pepper exports fell by 1.9% in the first 10 months of 2024, but export value increased by 48% year-on-year. In October 2024, Vietnam exported 18,493 tons of various peppers, up 7.9% year-on-year. In October, pepper exports reached US$120.2 million, of which black pepper exports reached US$99.8 million and white pepper exports reached US$20.4 million. The average export price of black pepper in October was US$6,284 per ton, down US$28, and the average export price of white pepper was US$8,029 per ton, up US$191. In the first 10 months of 2024, Vietnam exported 219,387 tons of various peppers, including 193,892 tons of black pepper and 25,495 tons of white pepper. The total export value reached more than 1.1 billion US dollars. Among them, black pepper was 88,160 US dollars and white pepper was 162.6 million US dollars, a year-on-year decrease of 1.9%, of which black pepper decreased by 3.3% and white pepper increased by 10.8%, but the export value increased to 48%. The main reason is that the export price of pepper in 2024 is much higher than that in 2023. The average export price of black pepper is 4,971 US dollars per ton and that of white pepper is 6,626 US dollars per ton. In October, the United States was the largest export market for Vietnamese pepper, with exports reaching 62,553 tons, accounting for 28.5% of the total exports, an increase of nearly 47% year-on-year. It was followed by the United Arab Emirates, Germany, India and the Netherlands. Currently, China is the sixth largest export market for Vietnamese pepper, but the export volume still fell by 84% year-on-year. In October, Vietnam's pepper imports surged, up more than 98% month-on-month, mainly from Indonesia and Brazil, with imports of 4,818 tons and more than 29.3 million U.S. dollars. In the first 10 months, Vietnam imported 28,596 tons of various peppers and 131.3 million U.S. dollars, up 27.1% and 78.5% year-on-year respectively. Indonesia became Vietnam's largest pepper supplier, with imports reaching 10,287 tons, up 257% year-on-year, accounting for 36% of export output. Imports from Brazil reached 9,013 tons, down 35.5%. Imports from Cambodia reached 6,695 tons, up 96.7% year-on-year. In addition, as of October, Vietnam's cinnamon exports reached 79,516 tons, earning US$220.5 million, with a year-on-year increase of 6.4% and export value equivalent to the level in 2023. India, the United States and Bangladesh are the three largest export markets for Vietnamese cinnamon.