Pepper exports to surge 16.7 percent this year

Exports of pepper will rise 16.7 percent to 105,000 tons this year, following a sharp increase in the first seven months, the Vietnam Pepper Association said.

Pepper exports totaled 80,772 tons from January to July, an increase of 41 percent compared to the same period last year. However, earnings fell 5.8 percent to US$189.4 million due to lower export prices, the association said in a report on its website.

The association said it expects prices to recover and increase toward the year-end as global demand remains firm while pepper stocks around the world are now low. Local black pepper prices increased 4.5 percent last month over June to around $2,240 per ton.

Pepper from Vietnam is now cheaper than from other countries, the association said, adding that local exporters and farmers should study market trends before selling their products.

Vietnam, the world’s biggest pepper producer, shipped 90,000 tons of the spice last year, 8.2 percent more than the previous year, according to the General Statistics Office in Hanoi.

thanhnien

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