According to preliminary statistics, Vietnam's pepper export in December 2021 is estimated at 15,000 tons, with a turnover of 71 million USD, down 8.4% in volume and 7.1% in turnover compared to November 2021; down 27.7% in volume but up 22.9% in turnover compared to December 2020.
For the whole year of 2021, Vietnam's pepper exports are estimated at 261 thousand tons, with a turnover of 938 million USD, down 8.5% in volume but up 42.0% in turnover compared to 2020.
According to the General Department of Customs statistics, Vietnam's pepper exports in November 2021 reached 13.7 thousand tons, with a turnover of 64.6 million USD, up 4.8% in volume and 77.0% in turnover compared to November 2020.
In the first 11 months of 2021, Vietnam's pepper exports reached 180.1 thousand tons, with a turnover of 676.5 million USD, up 3.5% in volume and 59.1% in turnover over the same period in 2020.
The average export price of Vietnam's pepper in November 2021 reached 4,709.6 USD per ton, up 68.9% compared to November 2020. In the first 11 months of 2021, the average export price of pepper products reached 3,757.5 USD/ton, up 53.8% over the same period in 2020.
In the first 11 months of 2021, Vietnam’s pepper was exported to the US market most, accounting for 30.6% of the total volume, with the export volume reaching 55.2 thousand tons, equivalent to a turnover of 208.9 million USD, an increase of 6.9 % in volume and 60.7% in turnover over the same period in 2020.
Vietnam's pepper exports to many markets increased in the first 11 months of 2021. Exports to the UAE increased by 26.8% in volume and 96.6% in turnover. Exports to Germany up 10.1% in volume and 73.5% in turnover, and to the Netherlands increased 31.4% in volume and 78.5% in turnover.
(Eleven months of 2021)
According to the Ministry of Industry and Trade, enterprises have adapted and found appropriate and effective trade promotion plans after two years of being affected by the COVID-19 pandemic. Vietnam’s agricultural products exports, especially pepper exports, will see many breakthroughs in 2022.
The Agency of Foreign Trade (under the Ministry of Industry and Trade) also commented that in 2022, pepper export prices would continue to remain high. Companies would benefit from this factor even though the quantity of pepper exported may decrease.
Optimistic signals are forecast in many of Vietnam's important pepper export markets, such as the US, EU, and the UAE. While the US increased pepper imports from some producing countries such as Indonesia, India, and China, the quantity of pepper imported from Vietnam still accounted for the largest proportion.
According to the assessment, the demand for pepper from major markets such as the EU, the US, and the Middle East will increase in 2021 after being affected by the COVID-19 pandemic in 2020. Besides, production costs and prices have increased. Production materials such as fertilizer increased rapidly above 100%, leading to many challenges for pepper farmers. That creates an opportunity for pepper prices to continue to rise in 2022.
Forecasting the prospect of pepper exports in 2022, the Vietnam Pepper Association (VPA) is optimistic that pepper exports will rebound from the first quarter of 2022 because it is estimated that the global purchasing demand will be around 130,000-160,000 tons. Meanwhile, the total production of Vietnam's annual harvest is about 150,000 tons. Moreover, the quality of pepper is improving, and VPA is supporting businesses to promote deep processing and build a brand name for this product that brings in more than 3 billion USD each year.
Source: The Ministry of Industry and Trade
Compiled by VietnamCredit