The export value of Vietnamese pepper products rose by more than 30% in the first two months of the year. In which, Thailand stood out thanks to a sharp increase and an almost complete reliance on supplies from Vietnam.
By the end of February, Vietnam had exported 35,600 tons of pepper. Specifically, Vietnamese pepper exports earned over 231 million USD—up 30.8% in volume. In addition, their value rose 25.6% compared to the same period last year.
This growth comes amid supportive global market conditions. This year, global pepper supply is forecast to decline by 15–20% due to shrinking inventories in major producing countries, while demand is clearly recovering.
Notably, the United States is likely to increase imports as tariffs fall to 0%. Meanwhile, China is boosting purchases due to low stockpiles.
Domestic pepper prices have decreased compared to earlier levels. However, they remain high, at around 136,000 VND per kilogram (as of March 22). Therefore, it allows Vietnamese pepper companies to maintain healthy profit margins.
The average export price also rebounded in February, reaching 6,609 USD per ton. However, overall for the first two months of the year, pepper prices were still down 4% compared to the same period last year, at 6,499 USD per ton.
Vietnamese pepper products
The United States continues to be the largest importer of Vietnamese pepper products. More specifically, it accounts for more than 25% of total export volume, equivalent to nearly 66 million USD. Germany ranks second, with export turnover reaching nearly 15 million USD.
Thailand has risen to third place thanks to a surge in imports of Vietnamese pepper.In the first two months of the year, exports to this market reached 1,940 tons, worth over 14 million USD. This represents an increase of 125% in volume and 104% in value compared to the same period last year.
This trend is not coincidental. Data from Thailand’s Ministry of Commerce shows that the country’s pepper imports have steadily increased in recent years, from 5,990 tons in 2020 to 9,652 tons in 2025. This represents an average annual growth rate of about 10%.
Vietnam currently almost dominates the supply in this market, accounting for up to 99.63% of total imports. Demand for spices in the food and tourism industries is rising rapidly, while domestic production remains limited and costly. Therefore, Thailand is likely to boost imports.
Beyond consumption, the market is also showing a trend of increasing stockpiling amid tightening global supply. This is likely to further drive import demand in the coming period.
As a result, Vietnamese pepper businesses have opportunities to expand market share in fast-growing markets like Thailand. This is alongside traditional markets such as the United States and Europe.
Although the harvest season has begun, supply to the market has not increased significantly. Farmers tend to sell cautiously in anticipation of further price increases. This keeps short-term supply constrained, helping maintain high price levels. With supply yet to improve substantially, the pepper market is expected to sustain high prices in the medium and long term.
Vietnamese source: https://vnexpress.net/hat-tieu-viet-doc-chiem-thi-truong-thai-lan-5053392.html