Sauces, Pastes & Marinades insights

Exports to South Korea amounted to US$40 million, down 8% year-on-year; exports to Thailand amounted to US$37 million, down 1% year-on-year; exports to mainland China and Hong Kong amounted to US$17 million, down 20% year-on-year; and exports to Japan amounted to US$15 million, down 28% year-on-year.

In the first seven months, the total export volume of pepper in the country reached 8,023 tons, an increase of 3.5% over the same period in 2023. Among them, the Asian market continued to play a leading role, with an export volume of 7,727 tons, an increase of 2.1% over the same period in 2023; exports to the American market reached 143 tons, an increase of 123.4% year-on-year; exports to the European market reached 80 tons, and exports to the African market reached 73 tons. In the first seven months of this year, China was Vietnam's largest pepper export market, reaching 6,834 tons, accounting for 85.2% of the total export output. Compared with the same period last year, pepper exports to China in the past seven months have fallen by 1.9%. The second place is the Lao market, with an export volume of 810 tons, accounting for 1 0%, up 44.6% year-on-year. The US market ranked third, with exports reaching 134 tons, up 157.7% from the same period last year. In the past 7 months, some of Vietnam's pepper export markets have also seen strong growth. Specifically, Taiwan, China, saw the largest increase, reaching 640% (from 5 tons in the same period of 2023 to 37 tons), Senegal increased by 300%, with exports reaching 8 tons, etc. Since March 2022, China has allowed Vietnam to export peppers to the country's market through formal trade channels, creating conditions for increasing pepper exports. In 2023, the total national pepper exports reached US$20 million, and the export volume reached 10,173 tons, an increase of 107% over the previous year. (End)

According to the Peruvian website "Agroperu", there are at least 65 companies engaged in the export of chili powder in Peru, with nearly 20 export markets. Analysts pointed out that the suitable climate, strong storage and distribution capabilities of goods ensure that the commercial window of Peruvian chili powder runs almost throughout the year. In addition, because the production areas are distributed in different regions such as the northern coastal, central and southern regions, the production of chili powder is less affected by the climate. In the first half of the year, the average price of Peruvian chili powder was US$3.71/kg, a year-on-year decrease of 11%; the price is expected to rise in the second half of the year, but it is unlikely to reach last year's level. As for production, it is expected to remain stable. In terms of export markets, North America was the largest export market for Peruvian chili powder in the first half of the year. However, unlike most Peruvian agricultural products, the sales volume of chili powder to Mexico is higher than that to the United States, because Mexican cuisine is highly compatible with chili powder. In the first half of the year, the export volume and export value of Peruvian chili powder to Mexico increased by 9% and 2% year-on-year respectively.