Vietnam’s Pepper Export Value Down 4.4 per cent to US$194M in Jan-July

Vietnam is estimated to have earned US$194 million from exporting 83,000 tons of pepper in the first seven months of this year, down 4.4 per cent in value on-year despite a rise of 43.1 per cent in volume, the Ministry of Agriculture and Rural Development (MARD) reported.

 

The ministry also attributed world pepper price decline to the situation.

 

Vietnam harvested 95,000 tons of pepper for this year’s crop, an increase of 4.4 per cent over last year, the ministry said.

 

Do Ha Nam, chairman of the Vietnam Pepper Association (VPA), said that farmers continued selling pepper when the export price fell, because the price remained high enough to still make a profit.

 

Over the seven months, Vietnam already sold 80 per cent of the total pepper harvested, so it cannot fulfill the rest of its export contracts until September due to a pepper shortage, which may send its price soaring to US$5,000 per ton by late this year from its current US$4,300 per ton.

 

Vietnamese pepper was exported to 73 countries and territories at an annual average volume of 70,600 tons, accounting for 31.2 per cent of the world pepper market, Nam said.

 

The country is expected to export 100,000 tons of pepper this year, an increase of 10,000 tons over the volume of last year. (VNA)