Amid conflict in Ukraine, Vietnam's 'black gold' exports increased by 6,158%

According to statistics from the General Department of Customs, our country's pepper exports in March 2023 reached nearly 35,750 tons, worth 106.47 million USD, up 50.6% in volume but down 4.7% in value compared to the same period in March 2022.

Notably, the amount of pepper exported in March 2023 recorded a record high since April 2020.

By the end of the first quarter of 2023, pepper exports - a commodity known as "black gold" of Vietnam - reached nearly 76,200 tons, worth 233.45 million USD, down 6.0% in volume and 34.3% in value over the same period in 2022.

Pepper exports to Ukraine and Singapore increased dramatically. Photo: Tam An

Vietnam's average pepper export price in the first quarter of 2023 was at 3,064 USD/ton, down sharply by 34.3% over the same period in 2022.

In the first quarter of this year, pepper exports to the US, Germany, the Netherlands, the UK, India, the United Arab Emirates... markets decreased sharply compared to the same period in 2022. On the contrary, exports to markets such as Ukraine, Singapore, Türkiye, and Egypt increased sharply.

Notably, Vietnam's "black gold" exports to Ukraine in the first quarter of 2023 increased dramatically by 6,158.3% in volume and 3,750.6% in value over the same period last year, with a quantity of 1,502 tons and a value of 4.42 million USD.

Exports to Singapore also recorded an increase of nearly 2,590% in volume and 1,348.8% in value over the same period in 2022.

The Import-Export Department (Ministry of Industry and Trade) forecasts that Vietnam's pepper export activities will be more vibrant in the second quarter of 2023 thanks to increased demand from markets such as China, Papua New Guinea, Turkey, Southeast Asia... offsetting the still sluggish import demand from the US and EU markets.