Pearl Group Corporation (Vietnam)

The subject specializes in trading white pepper, black pepper, cinnamon, turmeric, star anise, chili, and vegetables. Along with domestic suppliers, its products (pepper) are imported from Brazil, China, India, Malaysia, etc. The subject has expanded the export business market to many countries such as the USA, Japan, South Korea, Peru, Germany, Singapore, etc. According to the Vietnam Pepper Association, by the end of September 2023, Vietnam exported 204,385 tons of pepper of all kinds, of which black pepper reached 183,475 tons, and white pepper reached 20,910 tons. Total export turnover was USD 678.1 million, of which black pepper reached USD 578.2 million, and white pepper reached USD 99.9 million. Regarding the market, Asia was the main export market of Vietnam's pepper in 9 months, accounting for 55.9%, reaching 114,343 tons, up 39.9% over the same period last year. Specifically, China reached 55,985 tons, accounting for 27.4% of the market share and up 373.6% over the same period last year. Behind is the UAE market 9,327 tons, down 30.1%; India 9,238 tons, down 18.5%; Philippines 6,020 tons, up 24.7%. Vietnam's pepper has gradually marked its name on the world map. Vietnam is a country accounting for 40% of production and 60% of the global pepper market share, and always holding the No. 1 position in the world in terms of production and export. However, this industry is facing some challenges such as losing market share due to Brazilian and Indonesian markets offering more competitive prices; geopolitical instability, especially Russia-Ukraine tensions is negatively affecting pepper consumption; pepper production in Vietnam is fragmented and lacks links between producers, scientists, and businesses.