China remains Vietnam's largest pepper export market
VOV.VN - Vietnam exported 57,723 tonnes of pepper worth US$750.8 million to China during the ten-month period, accounting for 25.8% of the overall market share and representing an increase of 265.3% against the same period from last year, according to the Vietnam Pepper Association.
This figure represents a rise of 14.6% in volume but a decline of 11.7% in value with the average export price of black pepper and white pepper dropping by 17.6% and 15.6% to US$3,553 per tonne and US$5,082 per tonne, respectively.
The United States was the country's second largest pepper export market with 42,600 tonnes, accounting for 19.1% of the overall market share and representing an annual decrease of 6.3%.
Pepper exports to the European region accounted for 19.0% of the export proportion, decreasing by 4.8% on-year, while exports to the Indian and the UAE markets also declined by 8.5% and 29.8% on-year, respectively.
Most notably, exports to Turkey and France recorded a sharp increase of 69.7% and 31.1% with 3,900 tonnes and 3,097 tonnes, respectively.
Meanwhile, pepper exports to the African market increased by 9.9%, of which exports to Egypt, South Africa, and Senegal rose by 30.1%, 10.5%, and 35.6%, respectively.
According to information provided by the Import-Export Department under the Ministry of Industry and Trade, pepper exports are forecast to remain at a low level moving forward due to domestic supply sources no longer being abundant and the consumption demand in the US and EU markets having not yet recovered.
Over the long term, it is anticipated that there will be a shortage of Vietnamese pepper supply source due to fierce competition from other crops such as durian and passion fruit, said Hoang Thi Lien, president of the Vietnam Pepper Association.
Lien pointed out that global uncertainties such as such as economic recession, the ongoing Russia-Ukraine conflict, and the Israel-Palestine conflict are likely to impact the global market moving forward.
Vietnam is dependent on its export markets, meaning the country has witnessed a decline in various commodity industries, including the pepper and spice groups, she added.
In addition, the purchasing power of major markets such as the US and EU, which are key markets of the nation, are not likely to recover in the short term.
