Pepper export price remains high this year

Having a sharp increase in 2021, pepper export price is expected to remain high this year thanks to increasing demands from many markets.

Pepper export price remains high in 2022 after having increased significantly in the previous year. Photo: TL.

According to the Import-Export Department (Ministry of Industry and Trade), it is estimated that the average export price of Vietnam's pepper in December 2021 reached USD 4,703/ton, an increase of 1.5% compared to November 2021 and a remarkable 69.9% if compared to December 2020. For the whole year of 2021 the average export price of Vietnam's pepper is estimated at USD 3,593/ton, up 55.2% over 2020.

The Import-Export Department prognosticated that pepper export prices will remain high in 2022. This will positively affect the pepper industry in general.

Traditional export markets such as the USA, the EU, and the United Arab Emirates continue to be the main focus of Vietnam’s pepper industry. Being Vietnam’s largest pepper export market, the US economy showing signs of recovery means an increase in pepper consumption demand.

On the other hand, Vietnam's pepper has created a fairly solid foothold in this market. Vietnamese pepper holds greater competitive advantages compared to products of other export markets. The US market’s increase in pepper imports is visible especially for some producing countries such as Indonesia, India, and China. However the import volume from these markets still only accounts for a very small proportion.