Ending April, pepper exports reached 83,783 tonnes, worth $353 million, marking a decrease of 18.3 per cent in volume but an increase of 11.5 per cent in value year-on-year.

Experts say that pepper prices have bottomed out and begun to increase, starting a new golden age which may last a decade.

Asia is the largest market for Vietnamese peppercorns, accounting for 52.7% of the nation’s total export volume of the product, heard the Vietnam Pepper and Spice Association (VPSA)’s annual conference held in Hanoi on January 25.

The United States is Vietnam’s largest consumer of pepper, making up more than one fifth of the supplier’s total exports, according to the General Department of Customs.

Vietnam exported 267,000 tonnes of pepper worth US$912 million last year, representing an increase of 16.6% in volume, but a decrease of 6.0% in value compared to figures from 2022, according to details given by the Ministry of Industry and Trade.

The United States imported 33,728 tonnes of Vietnamese pepper worth US$135.23 million in the first eight months of the year, becoming the largest consumer of the Vietnamese product in the world, according to the General Department of Vietnam Customs.

Vietnam’s pepper output is high this crop, at 200,000 tons, but exports in the first five months of the year fell sharply as speculators reserved money to buy Robusta coffee.

Vietnam has exported 2,657 tonnes of pepper to the Chinese market as of mid-June. Exports to US and EU markets have dropped.

Vietnam's pepper exports are not challenged by Cambodia being issued a licence to export its pepper to China directly, according to experts.