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This export value, the highest since 2017, far surpassed the US$910.5 million earned in all of 2023, despite a decrease in export volume by about 23,900 tonnes.

The significant increase in export value was attributed to soaring prices of the product, from US$4,003 per tonne in January 2024 to US$6,501 per tonne in October, representing a 72.4% increase compared to the same period in 2023.

A report recently released by the Ministry of Agriculture and Rural Development also indicated that the average export price of pepper during the 11-month period surged 53.3% year on-year to US$5,198 per tonne.

Currently, the US, Germany and the United Arab Emirates are three major consumers of Vietnamese pepper, accounting for 44.1% of the country’s total export turnover.

Experts forecast that Vietnam’s pepper export price will continue rising in the long term as the pepper output is anticipated to decrease in the 2025 crop.

In fact, the 2025 pepper crop in Vietnam will be harvested mainly in February, with the harvest in some regions extending to March and April, due to the impact of prolonged drought, causing a shortage of pepper supply source.

Hoang Thi Lien, president of the Vietnam Pepper and Spice Association predicted that global pepper production is unlikely to meet demand over the next 3–5 years, ensuring a positive outlook for export prices.