Export prices of Vietnamese pepper have reached roughly $1,959-2,000 per ton, up more than $500/ton compared with July, according to the Vietnam Pepper Association (VPA).
Meanwhile, on the local market, buying prices of pepper have also doubled that in 2005, standing at VND31,500 per kilo.
Do Ha Nam, chairman of VPA forecasts that the prices would remain high by the end of this year and even continue to soar in the years to come, stressing on low pepper production in some major exporters and global increasing demand as the major reasons for the price hike.
“Vietnam, accounting for 50 per cent of world’s pepper output, will definitely fulfill its plan to earn $180 million from outbound shipment of around 125,000-130,000 tons in 2006 and $200 million in 2007,” Nam said.
As of late September, Vietnam exported more than 105,000 tons of pepper, fetching US$159 million, up 22.3 per cent and 35.4 per cent on-year, respectively.
Recognized as the world’s most ideal producer and exporter, Vietnam has to date presented its pepper to 73 countries and territories worldwide. As many as 40 per cent of its pepper exports come to the EU, 33 per cent to the US, 31 per cent to Asian countries, and 25 per cent to North America.
Other importers of Vietnamese pepper include Japan, Russia and the Middle East.
Vietnam & World Economy
Vietnamese
