VINAGRI News - Vietnam’s pepper exports surged in the first two months of 2026, with Thailand emerging as a key growth market due to a sharp rise in imports and near-total reliance on Vietnamese supply.
Summary:
> Vietnam exported 35,600 tonnes of pepper worth over $231 million in the first two months of 2026
> Export volume rose 30.8% and value increased 25.6% year-on-year
> Thailand imports surged 125% in volume and 104% in value
> Vietnam supplies about 99.63% of Thailand’s pepper imports
> Global pepper supply forecast to decline 15 - 20%, supporting prices
> Farmers are holding back sales, keeping short-term supply tight and prices elevated.
Vietnam’s pepper exports posted strong growth in the first two months of 2026, rising by more than 30% year-on-year, with Thailand standing out thanks to a sharp increase in imports and its heavy dependence on Vietnamese supply.
According to data from the General Department of Customs, Vietnam exported 35,600 tonnes of pepper by the end of February, generating over $231 million in revenue. This marked a 30.8% increase in volume and a 25.6% rise in value compared to the same period last year.
The growth comes amid favorable global market conditions. Global pepper supply is expected to decline by 15 - 20% this year due to falling inventories in major producing countries, while demand is recovering significantly. Notably, the United States is projected to boost imports as tariffs drop to zero, and China is increasing purchases due to low stock levels.
Domestic pepper prices have eased from previous levels but remain high at around VND 136,000 per kg (as of March 22), allowing farmers to maintain strong profit margins. The average export price also rebounded in February to $6,609 per tonne. However, for the first two months overall, the average export price declined by 4% year-on-year to $6,499 per tonne.
The United States remained the largest importer of Vietnamese pepper, accounting for more than 25% of total export volume, equivalent to nearly $66 million. Germany ranked second with import value reaching nearly $15 million.
Thailand climbed to third place as imports surged. In the first two months of the year, exports to Thailand reached 1,940 tonnes, valued at over $14 million, up 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 the country’s pepper imports have steadily increased in recent years, rising from 5,990 tonnes in 2020 to 9,652 tonnes in 2025, representing an average annual growth rate of around 10%.
Vietnam currently dominates this market, supplying approximately 99.63% of Thailand’s total pepper imports. Rising demand from the food and tourism industries, combined with limited domestic production and high costs, has driven Thailand to rely heavily on imports.
In addition to consumption, Thailand is also increasing stockpiling amid tightening global supply, which is expected to further boost import demand in the coming period.
This creates opportunities for Vietnamese exporters to expand their market share in fast-growing destinations like Thailand, alongside traditional markets such as the United States and Europe.
Although the harvest season has begun, supply has not yet increased significantly as farmers are selling cautiously, expecting prices to rise further. This has kept short-term supply tight, helping maintain high price levels. With no significant improvement in supply in the near term, the pepper market is expected to sustain a high-price trend in the medium to long term.
NPK/ Vinagri News
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