Pepper exports soar as Thailand doubles imports from Viet Nam

Thailand has doubled its spending on importing pepper - often referred to as “black gold” - from Viet Nam, making the country its largest supplier of the commodity.

According to data from the General Department of Customs, by the end of February this year, Viet Nam exported 35,570 tonnes of pepper, generating US$231.2 million in revenue. Compared to the same period last year, exports rose sharply by 30.8 percent in volume and 25.6 percent in value.

In 2026, global pepper supply is expected to decline by 15-20 percent due to shrinking inventories in major producing countries. Meanwhile, global demand is forecast to recover, particularly in the US as tariffs are reduced to zero.

Demand from China is also expected to increase, where inventories are believed to be low and may not be sufficient to meet domestic needs. This creates favorable conditions for Viet Nam’s pepper industry to accelerate exports and maintain growth this year.

After three consecutive months of decline, the average export price of pepper rebounded in February, reaching US$6,609 per tonne, up 2.8 percent compared to January 2026.

However, for the first two months of the year as a whole, the average export price still fell by 4 percent year-on-year, to US$6,499 per tonne.

Over the past two months, the US remained Viet Nam’s largest export market for pepper, accounting for 25.09 percent of total volume, up from 21.57 percent in the same period last year.

Notably, Viet Nam’s pepper exports to Thailand surged, making it the third-largest export market in the first two months of 2026, after the US and Germany.

In January alone, Viet Nam exported 1,940 tonnes of pepper to Thailand, earning US$14.02 million - an increase of 124.8 percent in volume and 103.5 percent in value compared to the same period in 2025.

Thailand is emerging as a key export destination for Vietnamese pepper, with import demand rising rapidly in recent years.

Statistics from Thailand’s Ministry of Commerce show that the country’s pepper imports increased from 5,990 tonnes in 2020 to 9,652 tonnes in 2025, representing an average annual growth rate of 10 percent over the period.

This year, imports have continued to rise sharply. In January alone, Thailand imported 978 tonnes of pepper worth approximately US$7.48 million, up 121.2 percent in volume and 105 percent in value compared to January 2025.

Thailand currently imports pepper from 11 markets, with Viet Nam accounting for 99.63 percent of total import volume, making it by far the dominant supplier.

According to industry experts, demand for spices in Thailand’s food and tourism sectors is increasing rapidly, while domestic supply remains insufficient or costly. As a result, the country has been forced to boost imports to meet consumption and processing needs.

At the same time, Thailand is also increasing its pepper reserves amid rising global demand and declining production.

Imports are expected to continue growing in the coming months, offering Viet Nam an opportunity to further expand its pepper exports to this market.

Source: Vietnamnet