For Vietnamese pepper, the US is the main and important market with export volume accounting for 20-25% per year and has always maintained a stable purchasing power until now.
In addition, the countries of the European Union (EU) are also key markets and the destination of most businesses in the context of free trade agreements that promote increased purchasing power.
However, these are the two sea freight routes with the most galloping and unusual increase in freight rates with an increase of about 1,500-2,000 USD for a 40-foot container every 2 weeks.
Compared to 2020, the freight to Europe has increased by over 11,000 USD, which is 12-13 times higher than the price at the beginning of 2020. Similarly, the freight to the US has increased 5-6 times to 13,500 USD.