VIETNAM’S PEPPER EXPORTS SURPASS US$1 BILLION IN JAN-AUG

Pepper vines at a farm in Vietnam - PHOTO: VNA

HCMC – Pepper exports generated more than US$1 billion in revenue between January and August, the highest in seven years, driven by firm prices amid constrained global supply.

In August alone, Vietnam exported 21,464 tons of pepper in August worth US$139.8 million, up 10.6% in volume and 19.5% in value from a year earlier.

Average export prices stood at US$6,335 per tonne for black pepper and US$8,562 for white pepper, slightly lower than in July.

During the eight-month period, shipments totaled 166,510 tons valued at US$1.12 billion, the Vietnam Pepper and Spice Association (VPSA) said, citing data from the General Department of Vietnam Customs.

Export volume dropped 9.4% against the same period last year, but export value jumped 28% thanks to higher average prices.

The United States remained Vietnam’s largest buyer, accounting for 21.4% of revenue, though shipments fell more than 31% versus the year-ago period. Exports to China rose 58%, while sales to the UAE and India increased 9.7% and 13.7%, respectively.

Vietnam had also imported 34,524 tons of pepper worth US$215.3 million in the year to August, with supplies mainly from Brazil, Cambodia and Indonesia.

Domestic prices have surged since late August as supplies dwindled after the harvest ended in May. Pepper traded at VND142,000-143,000 per kilogram on August 20 and rose to VND154,000-155,000 on September 3, before easing slightly to around VND152,000-153,000.

Source: The Saigon Times