Junes pepper exports up 58.8 per cent

HÀ NỘI – Việt Nam exported 35,000 tonnes of pepper in June worth US$85 million, increasing by 58.5 per cent in volume and 20 per cent in value year-on-year.

A farmer harvests pepper in the Tây Nguyên (Central Highlands) province of Lâm Đồng. The price of black pepper in the Vietnamese market is increasing following the world price. — VNA/VNS Photo

The information was released by the Ministry of Industry and Trade’s Import and Export Department. It said the price of pepper in the Vietnamese market is increasing following the world price, up from 1.1 per cent to 4.5 per cent compared with that of the previous month.

The lowest price is VNĐ44,000 ($1.9) per kilo in the southern province of Đồng Nai, while the highest price is VNĐ47,000 in the southern province of Bà Rịa-Vũng Tàu.

It is estimated that Việt Nam’s June pepper export reached 35,000 tonnes, worth US$85 million, down 7.9 per cent in volume and 9 per cent in value compared to the previous month. Its average price was $2,429 per tonne.

In the first half of this year, Việt Nam exported 181,000 tonnes of black pepper, recording revenue of $461 million, down by 25.7 per cent year on year.

The department forecasts that in the coming months, pepper exports may face difficulties due to Brazil and Indonesia preparing for their main harvest.

In the world market, the June pepper prices increased despite abundant supply. The upward trend is expected not to last long due to oversupply pressure.

According to the Vietnam Pepper Association, the pepper supply worldwide has currently surpassed demand. In the coming years, pepper production will continue to increase rapidly, and many pepper producing countries, including Việt Nam, will have significant inventory volume.