Pepper Market July 3, 2025

 

Update pepper information

According to  the People's Police Newspaper , announced on the social network Truth Social, Mr. Trump said that the US will impose a 20% tax on Vietnamese export goods, instead of the 46% rate as planned announced in April.

In addition, goods transiting from third countries through Vietnam will be subject to a higher tax rate of 40%. In return, Vietnam commits to completely exempting (0%) tariffs on US goods, including large-engine cars.

“I am honored to announce that I have just reached a trade agreement with the Socialist Republic of Vietnam,” Mr. Trump wrote on the social network Truth Social, after a phone call with General Secretary To Lam.

In an official statement, the Vietnamese Ministry of Foreign Affairs confirmed that the two sides had agreed on a new trade cooperation framework, although it did not specify the tariff levels. Accordingly, Vietnam will expand market access for US goods, especially in the technology and automobile sectors.

According to data from the Vietnam Customs Department, by the end of May 2025, Vietnam's pepper exports reached 99,922 tons, worth 690.4 million USD, down 12.5% ​​in volume but up 40.5% in value over the same period last year thanks to strong price increases.

The US continues to be the largest export market for Vietnamese pepper, accounting for 24.7% of the total volume and 26.8% of the total export turnover of this item. Pepper exports to this market reached 24,687 tons of pepper, equivalent to 184.9 million USD, down 18.9% in volume but up 34.8% in value compared to the same period last year, due to a sharp increase in export prices of 66.1% to an average of 7,490 USD/ton.

In May alone, pepper exports to the US reached 6,926 tons, equivalent to 52.37 million USD, up 2.3% in volume and 6.2% in value compared to the previous month. However, compared to the same period last year, export volume decreased by 9.3%, while value increased by 34.8%.

On the other hand, according to the Vietnam Pepper and Spice Association (VPSA), the US cannot produce pepper so it depends entirely on imports, of which 60-70% is imported from Vietnam.

According to VietnamBiz.vn