The Agency of Foreign Trade (Ministry of Industry and Trade) cited statistics from the International Trade Center (ITC) saying that in the first 10 months of 2023, Korea imported pepper to approximately 4.54 thousand tons, worth 21,000 USD. 47 million USD, down 27.1% in volume and 32.3% in value compared to the same period last year.

In the first 10 months of 2023, the average import price of Korean pepper from the world reached 4,732 USD/ton, down 7.1% over the same period last year. In particular, the average import price of Korean pepper decreased from most supply sources, except the United States.

May 10, 2023, Korea imports pepper from 20 countries and territories around the world. Of which, imports were mainly from Vietnam, reaching 4.1 thousand tons, worth 18.2 million USD, down 26.4% in volume and down 33.5% in value compared to the same period last year.

Vietnam's pepper market share in Korea's total imports increased slightly from 89.59% in the first 10 months of 2022 to 90.47% in the first 10 months of 2023.

In contrast, Korea increased pepper imports from the Malaysian market in the first 10 months of 2023, up 5.7% in volume, but down 8.8% in value, reaching 340 tons, down to 1.91 million USD.

Malaysia's pepper market share in Korea's total imports from the world increased from 5.16% in the first 10 months of 2022 to 7.49% in the first 10 months of 2023. In addition, Korea imported a large amount of pepper. quite low from the markets of Cambodia, India, and the United States.

According to statistics from the Vietnam Customs, in the first 11 months of 2023, Vietnam's pepper exports reached 245.66 thousand tons, worth 833.2 million USD, an increase of 18% in volume, but a decrease of 7.0%. 1% in value over the same period in 2022. Vietnam's average pepper export price reached 3,392 USD/ton, down 21.3% over the same period in 2022.

In November 2023, pepper exports to most traditional and potential markets increased compared to the same period last year, except for the Netherlands and Russia. Notably, Vietnam's pepper export rate to a number of markets recorded a high level, increasing by 2 to 3 digits, including: the United States, India, Korea, England...

In the first 11 months of 2023, Vietnam's pepper exports to the Indian, Philippine, and Thai markets... increased compared to the same period last year. On the contrary, pepper exports to the US, United Arab Emirates, Germany, Netherlands, Russia, Korea, UK... markets decreased.

In the domestic market, according to the Vietnam Pepper Association, black pepper prices in the domestic market in the first days of December 2023 continuously increased. Although China's import demand weakened, European and US demand increased again, causing selling prices to increase sharply./.

Minh Toan