Pepper exports hit record high in March
VOV.VN - Vietnam exported approximately 35,750 tonnes of pepper worth US$106.47 million in March, representing a rise of up 27.6% in volume and 26.5% in value on-year, thereby witnessing a record high since April 2020, according to the General Department of Vietnam Customs.
Although pepper exports to the United States, the United Arab Emirates (UAE), India, Germany, the Netherlands, and the UK experienced a decline in March, exports to Singapore, Turkey, and Egypt markets witnessed three to four-digit growth.
In the first quarter of the year, pepper exports to the US, Germany, Netherlands, and UK markets decreased, while pepper exports to the markets of the UAE, the Philippines, Turkey, and Egypt increased sharply.
Experts pointed out that the global pepper price will not experience strong fluctuations moving forward, adding that an abundant supply source of pepper and rising import demand from China and several other markets are predicted to offset the decline of the US and EU markets.
Vietnamese pepper exports are anticipated to rebound in the second quarter of the year thanks to an increasing demand from such markets as China, Papua New Guinea, ASEAN, and Turkey.
Statistics indicate that in the first quarter of the year Vietnamese pepper exports reached approximately 76,200 tonnes, worth US$233.45 million, a decline of 6% in volume and 34.3% in value against the same period from last year.
The country’s average export price of pepper also dropped by 34.3% to US$3,064 per tonne compared to last year’s corresponding period.