Vietnam: Pimenta Pepper Market 2024

Pimenta Pepper Market Size in Vietnam

In 2022, the Vietnamese pimenta pepper market decreased by -0.5% to $X, falling for the fourth year in a row after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. Pimenta pepper consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Pimenta Pepper Production in Vietnam

In value terms, pimenta pepper production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 106% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

In 2022, the average pimenta pepper yield in Vietnam declined slightly to X tons per ha, therefore, remained relatively stable against the previous year's figure. Overall, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by 3.3% against the previous year. As a result, the yield reached the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of pimenta pepper production in Vietnam dropped to X ha, flattening at the year before. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the harvested area increased by 2.5% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the pimenta pepper harvested area remained at a lower figure.

Pimenta Pepper Exports

Exports from Vietnam

After two years of growth, shipments abroad of pimenta pepper decreased by -48.1% to X tons in 2022. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2016 when exports increased by 359%. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank rapidly in the following year.

In value terms, pimenta pepper exports declined dramatically to $X in 2022. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 320% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for pimenta pepper exports from Vietnam, accounting for a 59% share of total exports. Moreover, pimenta pepper exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The third position in this ranking was held by Lao People's Democratic Republic (X tons), with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +80.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+12.7% per year) and Lao People's Democratic Republic (+136.1% per year).

In value terms, China ($X) remains the key foreign market for pimenta pepper exports from Vietnam, comprising 60% of total exports. The second position in the ranking was taken by the United States ($X), with a 4.6% share of total exports. It was followed by Malaysia, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +75.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+19.3% per year) and Malaysia (+5.9% per year).

Export Prices by Country

The average pimenta pepper export price stood at $X per ton in 2022, with a decrease of -10.6% against the previous year. Overall, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 58% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Pimenta Pepper Imports

Imports into Vietnam

In 2022, supplies from abroad of pimenta pepper decreased by -51.9% to X tons, falling for the fourth year in a row after two years of growth. In general, imports faced a dramatic slump. The growth pace was the most rapid in 2014 with an increase of 150% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, pimenta pepper imports fell dramatically to $X in 2022. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 134%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of pimenta pepper imports to Vietnam, together accounting for 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +42.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) were the largest pimenta pepper suppliers to Vietnam, with a combined 89% share of total imports.

China, with a CAGR of +54.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average pimenta pepper import price amounted to $X per ton, increasing by 24% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pimenta pepper import price increased by +48.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 39% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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