Vietnam continues to be EU’s largest pepper supplier

Thursday, 27/06/2024 17:19
The EU imported 18,474 tons of pepper from foreign markets in the first four months this year, worth 83.7 million EUR, an increase of 22.9% in volume and 27% in value compared to the same period in 2023, according to data from the the Statistical Office of the European Union (Eurostat).
Vietnam continues to be the largest pepper supplier in the EU

In April alone, the amount of pepper imported into the EU reached its highest level since the beginning of 2023, at 5,440 tons, up 22.7% from the previous month and up nearly 40% over the same period last year. This is also the fourth consecutive month that EU pepper imports increased compared to the same period last year.

In the first 4 months of the year, the EU imported 11,359 tons of pepper from Vietnam, worth more than 48.5 million EUR, up 25.1% in volume and up 32.1% in value compared to the same period last year. This kept Vietnam the largest pepper supplier in the EU in the four months.

EU’s pepper imports from other markets also increased sharply over the same period last year, specifically 3,443 tons from Brazil (up 25.3%); 1,384 tons from Indonesia (up 32.2%) and 952 tons from India (up 9.9%).

The EU’s average imported pepper price from Vietnam reached 4,273 EUR per ton, Brazil 3,665 EUR a ton, Indonesia 5,509 EUR a ton, and India 6,646 USD a ton.

In addition to competitive prices, Vietnamese pepper export businesses have an advantage over some exporting countries such as India, Malaysia and Indonesia thanks to the EVFTA, which helps reduce import taxes on ground or crushed pepper into the EU from 4% to 0%.

The Vietnam Pepper and Spice Association (VPSA) said that the EU is a high potential market for Vietnamese pepper exports. However, to take advantage of these opportunities, the pepper industry must move towards sustainable production, because more and more European consumers are demanding certifications of product sustainability./.