Pepper exports surge in March

Strong growth in both volume and value

This export level increased sharply by 46.7% in volume and 35.4% in value compared to the same period in 2025. This is a notable increase amid ongoing fluctuations in global agricultural trade, indicating that Viet Nam’s pepper sector is effectively capitalizing on the recovery of international markets.

Domestic pepper prices have declined compared to previous levels but remain high at around VND 136,000/kg (as of March 23), helping farmers maintain positive profit margins. This price level is considered relatively stable compared to previous periods of strong volatility, contributing to farmers’ confidence in maintaining and investing in pepper cultivation.

According to preliminary statistics from the Viet Nam Pepper and Spice Association, black pepper continues to dominate with 10,653 tons, while white pepper reached 2,034 tons. This structure shows that black pepper remains Viet Nam’s key export product, thanks to its high output and competitive pricing.

From the beginning of the year to March 15, exports of this commodity reached 48,192 tons, generating USD 312.23 million, up 34.6% in volume and 28% in value. Overall, pepper exports have shown positive recovery from the start of the year, reflecting improving global demand.

In addition, the continued high share of black pepper indicates significant potential for developing value-added products such as white pepper, ground pepper and blended spice products in the future.

This growth momentum comes amid supportive global market factors. This year, global pepper supply is forecast to decrease by 15–20% due to declining inventories in major producing countries, while demand is clearly recovering. Notably, the United States is expected to increase imports as tariffs fall to 0%, while China is boosting purchases due to low inventories.

These supply-demand shifts create favorable conditions for major exporting countries like Viet Nam to expand market share and increase export value in the short term.

Viet Nam nearly “dominates” the supply in Thailand

Regarding markets, the United States and China remain the two largest destinations for Vietnamese pepper, accounting for 29.9% and 12.8% of total export volume, respectively, equivalent to 3,796 tons and 1,624 tons. The United States maintaining its leading position reflects stable demand from a major consumption market, while China shows signs of increasing imports again after a previous slowdown. This is a positive signal contributing to the sector’s overall growth momentum. The recovery of these two major markets will play an important role in shaping enterprises' production and export strategies in the coming period.

Thailand has risen to third place with a surge in imports. In the first two months of the year alone, exports to this market increased by 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 pepper imports have steadily increased over the past few years, with an average annual growth rate of about 10%. This reflects rising demand for spices alongside the growth of Thailand’s food processing and service industries.

Currently, Viet Nam nearly “dominates” supply in this market, accounting for up to 99.63% of total imports. Demand for spices in the food and tourism sectors is growing rapidly, while domestic production remains limited and costly, prompting Thailand to increase imports. In addition to consumption needs, Thailand is also increasing stockpiles amid tightening global supply, further driving import demand in the coming period. This advantage opens up significant opportunities for Vietnamese enterprises to strengthen their position in the regional market and build long-term trade relationships.

From a business perspective, Olam Viet Nam is the largest exporter in this period with a volume of 1,302 tons, followed by Phuc Sinh with 1,226 tons and Simexco Dak Lak with 758 tons. The leadership of major enterprises highlights the important role of companies with deep processing capacity, stable international customer networks and the ability to capitalize on market opportunities. These enterprises not only drive exports but also help set quality standards and build the Vietnamese pepper brand in the international market.

Overall, Viet Nam’s pepper exports in the early months of 2026 are signaling strong growth in both volume and value. However, the higher growth rate in volume than in value indicates that export prices have not increased proportionately, suggesting the market still faces certain competitive pressures. In the coming period, the outlook for the pepper industry is considered positive, but it is still necessary to closely monitor factors such as global price fluctuations, supply from major producing countries and changes in trade policies of importing markets to ensure sustainable growth.

* $1 = VND 26.364 - Source: Vietcombank.