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Vietnam's 2008 pepper output down slightly, prices up
Vietnam, the world's largest black pepper producer, has completed harvesting up to 87,000 tons of the spice, down slightly from last year's output, an industry body said.
Farmers in southern Vietnam ended their harvest in late June, having picked an estimated 85,000 tonnes to 87,000 tons of pepper, compared with 90,300 tons last year, the Vietnam Pepper Association said in a report obtained by Reuters on Thursday.
Vietnam's pepper output this year would account for around a third of global production estimated at 259,000 tons, while consumption would be 305,000 tons, according to figures released by the association in May.
The association said good weather so far and high prices would make this year's production a success.
Vietnam exported 47,000 tons of pepper, 5,070 tons of which was white pepper, in the first half of this year, up 7 percent from the same period last year, while revenues jumped 28 percent to $166 million, the association cited customs figures as showing.
The six-month earnings meant an average export price of $3,530 for a ton of pepper, a rise of nearly 20 percent from the same period last year.
Vietnam, which consumes only 5 percent of its pepper output, also buys about 10,000 tons of Cambodian pepper annually for re-export.
The association forecast prices could stay at the current level for the rest of the year. It did not give a clear reason but said the forecast was based on market supply and demand.
Vietnamese farmers and exporters may still be left with a combined 35,000 tons of the spice, after deducting the export volume and domestic consumption.
India has ended its harvest this year with 50,000 tons, similar to last year, the association report said.
"Indonesia, Malaysia will start harvesting in July and August, followed by Brazil and Sri Lanka and output from these countries are forecast not to rise from 2007," the report added.
Thanhnien
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