Product restructuring helps increase pepper export value
VOV.VN - A dramatic shift occurring in product structure has served to boost the export value of Vietnamese peppers, with the country exporting 154,000 tonnes of peppers worth approximately US$500 million during the first half of the year.
This figure represents a decline of 7.5% in volume and an increase of 39.8% in value compared to the same period from last year.
At present, domestic pepper prices remain at a high level, with black peppers being traded at between VND76,000 and VND79,000 per kilo, while the selling price of white peppers stands at VND113,000 per kilo.
The export price of black pepper increased by 6.6% to US$4,150 per tonne, while the export price of white pepper enjoyed a surge of 6.6% to climb to US$6,050 per tonne.
According to information given by the Import-Export Department, Vietnam exported over 118,540 tonnes of black pepper worth US$366.35 million in the first half of the year, a drop of 11.2% in volume, but marking a rise of 38.3% in value over the same period from last year.
The average export price of black pepper also surged by 55.7% to US$3,090 per tonne, with notable foreign markets including the Republic of Ireland, the United Arab Emirates, and France.
The country shipped a total of 3,850 tonnes of ground white pepper abroad worth US$17.33 million throughout the reviewed period, an increase of 84.1% in volume and 114.1% in value compared to the same period from last year.
Most notably, strong export growth was recorded in a number of markets, such as the United States, the UK, Australia, Japan, the Republic of Korea, Malaysia, and South Africa.
Experts believe that the complicated nature of developments relating to the fourth wave of COVID-19 will impact the export of the local product due to high freight rates and a shortage of empty containers, thereby leading to stagnation occurring as a result of a large amount of peppers building up in southern ports.
Pepper prices within the global market are anticipated to remain stable at a high level ahead in the third quarter of the year, largely due to the supply sources of pepper from Indonesia, China, Malaysia, Brazil, and Cambodia.
With the current rise of pepper prices, Vietnamese pepper exports are set to bounce back as turnover reaches several billions of US$ in the near future.
