2026 // Week 27 – Vietnam Pepper Market Update : Recovery from downturn & strong cumulative export growth through May 2026
Domestic Market & May 2026 Export Snapshot
Pepper price trends in the Central Highlands and Southeast regions
during the week of June 22th to June 28th, 2026
Domestic pepper prices held mostly flat across Vietnam’s key growing regions this morning, with only a modest 500 VND/kg easing in Binh Phuoc (Dong Nai). The narrow trading range of 137,000–139,000 VND/kg suggests that market participants are adopting a wait-and-see stance following the recent recovery. This cautious tone reflects a combination of factors: seasonal supply dynamics, the pace of export demand, and trader sentiment heading into the second half of the year. For domestic growers and processors, the stability in farmgate prices provides a degree of revenue predictability, though the slight softening in Binh Phuoc — one of Vietnam’s primary pepper-producing provinces — bears watching as a potential leading indicator of broader price direction.
On the export side, Vietnam shipped 25,110 tons of pepper in May 2026, generating USD 166.9 million in revenue. Both volume and value declined versus April 2026 (−18.9% volume, −13.9% value) and versus May 2025 (−4.5% volume, −8.3% value). The month-over-month pullback is consistent with typical seasonal patterns following stronger early-year export activity, while the year-over-year decline suggests that global demand conditions may have softened relative to the elevated levels seen in the prior-year period. Despite these declines, the average export price of USD 6,647/ton rose 6.1% MoM and 4.0% YoY — a positive signal that global pepper prices remain elevated and that Vietnam is capturing favorable pricing even as shipment volumes contract.
May 2026: Export Breakdown by Product Type
Black pepper remained the dominant export product in May 2026, accounting for nearly 70% of total pepper exports at 17,520 tons worth USD 109.26 million. Both volume and value declined versus May 2025 (−7.0% and −10.3%, respectively), reflecting softer demand or tighter supply conditions for this core product category. White pepper exports reached 2,040 tons worth USD 16.66 million, down 11.3% in volume and 12.4% in value year-over-year. Ground white pepper also contracted, declining 9.7% in volume and 13.0% in value. Across all four product categories, May 2026 saw year-over-year declines in both volume and value, though the magnitude varied by product type. The consistent price increases across all categories — ranging from +2.0% for black pepper to +9.9% for ground white pepper — suggest that global demand fundamentals remain supportive even as shipment volumes pull back.
Black pepper dominates at 17,520 tons (~69.8% of total), followed by ground black pepper (3,730 tons), white pepper (2,040 tons), and ground white pepper (820 tons). The concentration in black pepper underscores its continued role as Vietnam’s primary export product, though all categories saw year-over-year volume declines in May 2026.
Cumulative 5-Month Export Performance (Jan–May 2026)
Vietnam exported 121,910 tons of pepper in the first five months of 2026, generating USD 789.74 million in revenue — up 22% in volume and 14.4% in value versus the same period in 2025. This strong cumulative performance underscores the robustness of Vietnam’s pepper export sector through the early part of the year, even as May alone showed a modest year-over-year pullback. The cumulative average export price of USD 6,478/ton was down 6.2% year-over-year, reflecting the mix of products shipped and pricing dynamics across the January–May period. For traders and analysts, the divergence between strong cumulative growth and a softer May reading suggests that the first four months of 2026 were particularly strong, with May representing a normalization rather than a fundamental shift in market conditions.
Black pepper leads with 83,500 tons (68.5% share) and USD 512.08 million. White pepper posted the strongest volume growth at +29.4% YoY, while ground white pepper was the only product with a rising average export price (+1.4% YoY to USD 8,942/ton). Ground black pepper grew modestly at +7.3% volume and +5.4% value, while white pepper’s value rose +15.4% — the highest value growth rate among all pepper products over the five-month period
