Canada, US, Europe Buy Vietnam Pepper on Lower Prices
Importers in Canada, the U.S. and Europe have turned into buying Vietnamese pepper because prices of the product offered by the Southeast Asian country are much lower than other exporting countries, especially India.
The export prices of Vietnamese pepper are at the lowest in the past three years despite an increase of US$50 per ton to US$2,150-2,200 per ton late last month, said the Information Center of the Ministry of Industry and Trade.
Such prices seem to be far lower than those offered by pepper exporters from India, Indonesia, and Brazil, according to the ministry.
India’s export pepper price slightly dropped to US$2,650-2,700 per ton against last week (US$2,750-2,800 per ton); Indonesia offered US$2,350 per ton and Brazil proposed the price of US$2,200 per ton despite the country’s shortage in supplies.
Vietnam, the world’s largest pepper exporter, has just finished its 2009 pepper harvest with the total output of about 95,000 tons, up 4,000 tons against last year.
The Vietnam Pepper Association recommended the pepper enterprises should sell their products in moderation to gain initiative in adjusting the export price.
Vietnamese firms exported 52,000 tons of pepper in the first five months this year, earning US$122 million, up 43.3 per cent in volume but down 6.2 per cent in value due to falling prices. (CPV)
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