Business

Vietnam secures lion’s share of Thailand pepper market

Vietnam now supplies about 99.63% of Thailand’s imported pepper, driven by strong demand from the food and tourism industries and limited domestic production.

Vietnam emerges as Thailand’s key pepper supplier (Photo: VNA)
Vietnam emerges as Thailand’s key pepper supplier (Photo: VNA)

Hanoi (VNA) - Vietnam’s pepper exports rose more than 30% in the first two months of the year, with Thailand emerging as a standout market due to surging demand and heavy reliance on the Vietnamese supply.

According to the Department of Customs, Vietnam shipped 35,600 tonnes of pepper worth over 231 million USD in the first two months of this year, up 30.8% in volume and 25.6% in value year on year.

The growth came amid supportive global conditions, including forecasts of a 15–20% decline in world supply as inventories fall in major producing countries while demand continues to recover. The US is expected to increase imports after tariff reductions, and China is also stepping up purchases due to low stock levels.

Domestic pepper prices remained high at around 136,000 VND (nearly 5.2 USD) per kilogram on March 22, helping farmers maintain positive profit margins. The average export price recovered to 6,609 USD per tonne in February, although the two-month average still slipped 4% year on year to 6,499 USD per tonne.

The US remained the largest buyer, accounting for more than 25% of total export value at nearly 66 million USD, followed by Germany with close to 15 million USD. Thailand ranked third after a sharp increase in imports, purchasing 1,940 tonnes worth over 14 million USD, up 125% in volume and 104% in value.

Data from Thailand’s Ministry of Commerce show pepper imports rising steadily from 5,990 tonnes in 2020 to 9,652 tonnes in 2025, an average annual increase of about 10%. Vietnam now supplies about 99.63% of Thailand’s imported pepper, driven by strong demand from the food and tourism industries and limited domestic production. The market is also building inventories amid tightening global supply.

With farmers selling cautiously in anticipation of further price gains and supply yet to expand significantly, pepper prices are expected to remain firm in the medium and long term, offering Vietnamese exporters opportunities to expand their presence in fast-growing markets such as Thailand alongside traditional destinations in the US and Europe./.

VNA
#Vietnam #Thailand #pepper market
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