Pepper exports enjoy double digit growth in February
VOV.VN - Vietnamese pepper exports increased sharply in February compared to the previous month and over the same period from last year, according to the details given by the Import-Export Department under the Ministry of Industry and Trade.
The Import-Export Department cited data from the General Department of Customs as saying that the country’s pepper exports in February reached 28,000 tonnes, worth US$86 million, marking an increase of 123.1% in volume and 98.2% in value compared to January, up 31% in volume and 35% in value compared to last February.
The first two months of the year witnessed the nation's pepper exports hit 41 thousand tonnes valued at US$129 million, up 35% in volume, but down 7.4% in value over the same period from 2022.
During the reviewed period the average export price of Vietnamese pepper was estimated to stand at US$3,177 per tonne, down 31.4% compared to last year's corresponding period.
In terms of the domestic market, in February prices of black and white pepper increased sharply due to growing import demand from the Chinese market.
This can be seen as on February 28 the price of black peppers rose by between VND8,000 per kg to VND8,500 per kg, equivalent to an increase of 13.9% to 15.3%, compared to January 30, to reach between VND64,000 per kg to 65,500 per kg.
Elsewhere price of white pepper stood at VND98,000 per kg, an increase of VND6,000 per kg compared to the end of January, but still lower than the figure of VND121,000 per kg seen in the same period from last year.
Moving forward, the global pepper market is forecast to recover due to increasing demand from importers.
Although the country is now amid its main harvest season, the output of the new pepper crops are showing a significant decline because of a decrease in areas and low productivity in some regions due to unfavourable weather conditions.