In the first two months of the year, Vietnam's pepper exports declined, but their export value increased significantly, reflecting the high demand for Vietnamese pepper in the international market and the impact of fluctuations.
According to official data, Vietnam successfully exported 35,000 tons of pepper during this time, creating 1$4.3 billion in export value. This is despite the fact that exports are 12 percent lower than the same period last year3%, but the export value achieved 12A significant increase of 9%. This comparison not only highlights the competitiveness of Vietnamese pepper in the international market, but also reflects the positive impact of the market on export earnings.
The U.S. remains the largest export destination for Vietnamese pepper, accounting for 29% of total exports, followed by India and Germany. During this two-month period, the average export of Vietnamese pepper** reached US$4,041 per tonne, an increase of 28 percent year-on-year7%, a growth rate that highlights the increased value and demand for Vietnamese pepper in the global market.
Vietnam's pepper production is expected to fall by 10 to 15 percent this year, with production estimated at between 160,000 and 170,000 tonnes, according to the Vietnam Pepper and Spice Association (VPA). This ** reflects a trend of decreasing acreage and lower yields that may affect the global pepper chain.
Last year, Vietnam exported 267,000 tons of pepper, earning 9$1.2 billion in revenue. Compared to the data at the beginning of this year, it is clear that the volatility of the pepper market and its importance to the Vietnamese economy is clear. Vietnam's pepper industry faces both challenges and opportunities, and it needs to continue to pay attention to factors such as changes in international market demand, the impact of climate change on crop production, and domestic and foreign policy adjustments to maintain and enhance its competitive position in the global market.