Pepper prices rise despite drop in exports
Vietnam exported 23,000 tonnes of pepper in the first quarter of this year, earning nearly US$66 million.
Though the volume of pepper dropped by 14.55 percent, its total value was 1.54 percent higher due to higher global prices of the spice, according to the Ministry of Agriculture and Rural Development (MARD).
The average export price in the past three months was US$3,111 a tonne, 22.1 percent higher than last year. It is expected to go further up this year due to a global supply shortfall.
The ministry said the recent unfavourable weather had caused a decline in pepper output and delayed harvests until mid-February.
Vietnam has been the world’s largest pepper producer and exporter since 2001, with Germany, India and the US being the biggest importers.
Its exports hit a record high of 135,000 tonnes for US$347 million last year, an increase of 49 percent in volume and 11.46 percent in value over 2008, according to the Vietnam Pepper Association.
The average export price in the past three months was US$3,111 a tonne, 22.1 percent higher than last year. It is expected to go further up this year due to a global supply shortfall.
The ministry said the recent unfavourable weather had caused a decline in pepper output and delayed harvests until mid-February.
Vietnam has been the world’s largest pepper producer and exporter since 2001, with Germany, India and the US being the biggest importers.
Its exports hit a record high of 135,000 tonnes for US$347 million last year, an increase of 49 percent in volume and 11.46 percent in value over 2008, according to the Vietnam Pepper Association.