In the first half of 2022, Vietnam’s pepper exports reached 123.6 thousand tons, with a turnover of 560.2 million USD, down 19.7% in volume and up 12.8% in turnover over the same period in 2021.
According to data from the General Department of Customs, Vietnam’s pepper exports in June 2022 reached 24.2 thousand tons, equivalent to a turnover of 100.1 million USD, up 10.8% in volume and 1.7% in turnover compared to May 2021. This number compared to June 2021 is a decrease of 26.5% in volume and 15.1% in turnover.
Vietnam’s average pepper export price in June 2022 reached 4,133.7 USD/ton, down 8.2% compared to May 2022, up 15.4% over June 2021. In the first 6 months of 2022, pepper export price reached 4,531.0 USD/ton, which increased sharply by 40.5% over the same period in 2021. This helped secure the increase in pepper export turnover, despite the decline of 19% in export volume.
In June 2022, Vietnam mainly exported pepper to the US, with 5.15 thousand tons exported, equivalent to a turnover of 24.5 million USD, down 34.6% in volume and 18.1% in turnover compared to June 2021.
In the first half of 2022, Vietnam’s pepper exports to the US reached 31.0 thousand tons, with a turnover of 152.3 million USD, down 5.2% in volume and up 33.5% in turnover over the same period in 2021.
Vietnam’s pepper exports to several markets in June 2022 declined. However, exports to some markets such as Japan, Canada, and the Philippines increased significantly. Specifically, exports to Japan increased by 120.3% in volume and 203.6% in turnover; to Canada up 69.9% in volume and 115.1% in turnover; to the Philippines up 25.6% in volume and 53.5% in turnover, etc.
Notably, Vietnam’s market share of pepper in Germany increased. In the first 4 months of 2022, Germany mainly imported pepper from Brazil and Vietnam.
Data from the International Trade Center (ITC) shows that Germany's pepper imports from Brazil reached 3.24,000 tons, worth 14 million USD in the first four months of 2022, down 36.1% in volume but increased 2.0% in turnover over the same period in 2021.
In the first 4 months of 2022, Germany imported 2.81 thousand tons of pepper from Vietnam, equal to 14.51 million USD, down 8.7% in volume, but up 34.3% in turnover compared to the same period in 2021.
Vietnam's pepper market share in Germany's total imports increased from 31.27% in the first 4 months of 2021 to 38.02% in the first 4 months of 2022.
(First 5 months of 2022)
In the first 5 months of 2022 Pearl Group Corporation, Long Binh Branch of Olam Viet Nam Co., Ltd., and Nedspice Processing Vietnam Limited were Vietnam’s top pepper exporters. These three companies reached turnovers of 59,477 thousand USD, 53,429 thousand USD, and 34,966 thousand USD, respectively.
Followed in fourth and fifth place were Phuc Sinh Corporation and Ha Noi Production Services Import Export Joint Stock Company, with turnovers of 33,342 thousand USD and 29,294 thousand USD.
Due to the influence of global economic inflation, most of Vietnam's major markets have reduced imports.
In Dak Lak and Dak Nong provinces, pepper is purchased at 68,500 VND/kg. In Gia Lai province, the pepper price is 67,500 VND/kg. In Dong Nai, the pepper price is 67,500 VND/kg.
In Ba Ria - Vung Tau province, pepper price is 70,500 VND/kg. In Binh Phuoc province, pepper is purchased at 69,500 VND/kg.
According to the assessment, Vietnam's export activities may slow down in the coming quarters as consumers in key export markets such as the US and Europe tighten their spending.
From now until the end of 2022, Vietnam's pepper market will rely on the demand from the Chinese market and other markets when they enter the consumption period during the year-end Tet holiday.
Source: The Ministry of Industry and Trade
Compiled by VietnamCredit