Pepper export value hits US$963 million last year
VOV.VN - Despite enduring numerous difficulties including global high inflation, weak consumption demand, and China's 'Zero-COVID' policy, Vietnamese pepper exports last year edged up 2.7% to reach US$963 million in value compared to 2021, according to industry insiders.
The average export price of local peppers in 2022 stood at an estimated US$4,257 per tonne, up 18.5% compared to 2021’s figure.
However, Hoang Thi Lien, president of the Vietnam Pepper Association (VPA), said Vietnamese pepper exports will continue to face challenges ahead in 2023 due to an abundance of supply sources, reduced consumption demand occurring globally, and an ongoing energy crisis in the EU.
According to the Import-Export Department, pepper imports by the German, British, and French markets in the short term will remain low and will only bounce back once the energy crisis and inflation-related issues are resolved.
China’s import demand for peppers has yet to make any breakthroughs though it is easing its COVID-19 measures. The purchasing power in this huge market is expected to rebound by the beginning of the second quarter of the year.
Industry insiders therefore recommended that the local pepper industry strive to increase its standardisation capacity in line with international standards with regard to chemical residues and sustainable production criteria.
Furthermore, the industry is required to promote deep processing and create new products in a bid to enhance its overall competitiveness in the global market, while developing cultivation areas in line with international farming practices in the time ahead.
Most notably, local businesses are advised to make full use of tax incentives under the EU-Vietnam Free Trade Agreement (EVFTA) and the UK-Vietnam Free Trade Agreement(UKVFTA) in order to increase exports to demanding markets in future.
