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Six-month pepper exports to fetch 142.5 million USD
Vietnam expects to ship abroad 54,500 tonnes of pepper in the first half of this year, earning 142.5 million USD, industry insiders have said.
The figures represent an increase of 15.75 percent in volume but a drop of 14.5 percent in value, reported the Vietnam Pepper Association (VPA).
VPA said domestic pepper prices are fluctuating between 30,000-33,000 VND per kilo due to the world pepper market’s gloomy outlook.
According to experts, local businesses should not export a large quantity of pepper at this time to avoid losses.
Vietnam plans to export 100,000 tonnes of pepper this year, accounting for 50-60 percent of the world’s market share, said VPA.
Of the volume, 85,000-87,000 tonnes are expected to come from this year’s harvest and the remainder will be sourced from last year’s stockpiles.
The country shipped abroad more than 89,700 tonnes of pepper last year, raking in 309 million USD, up 7.6 percent in volume and 12.4 percent in value over the previous year.
vietnamplus
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