Pepper output sees significant rises amid low prices
VOV.VN - Vietnam’s pepper output has seen a remarkable increase over the course of the year despite low prices and a decreasing cultivation area, according to the Department of Crop Production under the Ministry of Agriculture and Rural Development.
Despite a fluctuation in prices, pepper output has increased significantly due to a surge in overall productivity. Although productivity has surged, the country’s pepper cultivation area has reached 145,447 hectares, a fall of 4,000 hectares in comparison to last year.
The first five months of the year saw Vietnam's pepper exports at an estimated 144,000 tons, earning US$372 million in the process, representing a 33.2 per cent rise in volume, and fall of 2.4 per cent in value against the same period last year.
The average export price during the first four months of the year saw a drop of 25.9 per cent to US$2,621 per ton compared to last year’s corresponding period.
Over the course of the year, pepper prices have remained low in comparison to previous years as a result of excessive supply sources. In the short term, the global pepper market is expected to see a fall in prices due to oversupply. Global pepper prices are projected not to rebound in the near future.