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Vietnam’s top pepper exporters in January 2022

Vietnam’s top pepper exporters in January 2022

Wednesday 09, 03 2022
Long Binh Branch of Olam Viet Nam Co., Ltd., Pearl Trading- Services and Import-Export Joint Stock Corporation, and Nedspice Processing Vietnam Limited were Vietnam’s top three pepper exporters in January 2022.

Top 10 Vietnam’s pepper exporters in January 2022

Long Binh Branch of Olam Viet Nam Co., Ltd., Pearl Trading- Services and Import-Export Joint Stock Corporation, and Nedspice Processing Vietnam Limited were Vietnam’s top three pepper exporters in January 2022.

Top 10 Pepper

Vietnam’s pepper exports in the first two months of 2022

According to estimate, Vietnam’s pepper exports in February 2022 reached about 11 thousand tons, equivalent to a turnover of 51 million USD, down 30.3% in quantity and 31.0% in turnover compared to January.

In the first two months of 2021, pepper exports of Vietnam were about 27 thousand tons, with a turnover of 125 million USD, down 11.2% in quantity and up 43.8% in turnover over the same period in 2021.

It is estimated that the average export price of pepper in the first two months of 2022 will reach 4,681 USD/ton, up 61.9% over the same period in 2021. In 2022, the export price of pepper is forecast to continue at a high level.

According to statistics from the General Department of Customs, Vietnam's pepper exports in January 2022 reached 15.8 thousand tons, with a turnover of 74.2 million USD, down 6.1% in volume but up 53.0% in turnover compared to January 2021.

In January 2022, the US was Vietnam’s highest pepper importing market. The amount exported to the US market accounted for 34.1% of the total pepper exports to all markets. Following are the India, Germany, the Netherlands, and the UK markets, accounting for 6.2%, 5.9%, 5.4%, and 4.2%, respectively.

In particular, Vietnam's pepper exports to the US increased by 35.8% in quantity and 117.1% in turnover compared to the same period in 2021. Pepper exports to the Indian market up 26.9% and 95.3% in quantity and turnover. Exports to the German market up 64.2% and 158.7%, etc.

Pepper exports to markets such as the UAE and the Pakistan markets experienced a decline in volume and turnover. Exports to the UAE decreased by 55.4% in volume and 30.5% in turnover over January 2021. Exports to Pakistan were down 37.5% in volume and 8.1% in turnover compared to January 2021.

Pepper exports

Forecast for 2022

Regarding the outlook for Vietnam's pepper exports in 2022, most experts, exporters, and pepper farmers share the same expectation that the price of pepper will continue to increase because the supply and demand for pepper are gradually returning to equilibrium. There may even be a shortage if the production situation is not favorable.

According to the assessment, in 2022, the export price of pepper will continue to remain high. Vietnam's pepper industry will continue to exploit traditional export markets such as the US, EU, and the United Arab Emirates. In the US, the largest pepper export market of Vietnam, the recovery of the economy will lead to an increase in demand for pepper.

Meanwhile, Vietnam's pepper has created a fairly solid foothold in the US market. The competitive advantage of Vietnam's pepper products compared to other export markets is quite large. Although the US increased pepper imports from some producing countries such as Indonesia, India, and China, the import volume from these markets was low.

Vietnam’s pepper exports

It is forecasted that Vietnam’s pepper exports in 2022 will increase sharply in the first quarter of 2022, with a forecast of the global buying demand from 130,000 to 160,000 tons, while the total harvest output of Vietnam for the whole year is only about 150,000 tons.

 

Source: The Ministry of Industry and Trade

Compiled by VietnamCredit

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