Two-month pepper export turnover reaches US$138.8 million
Vietnam raked in US$138.8 million from exporting nearly 36,000 tonnes of pepper in the first two months of 2018, posting a year-on-year increase of 127% in volume and 23.7% in turnover.
According to the General Department of Customs, in February alone, the country shipped 18,736 tonnes of pepper to abroad, earning US$69.86 million.
The US remained the largest importer of Vietnamese pepper in the reviewed period, with 2,697 tonnes worth US$12.3 million, accounting for 15.7% and 17.8% in volume and value of the country’s pepper exports.
However, the export price of pepper went down at almost export markets of Vietnam compared to the same period last year.
Vietnam’s pepper industry is forecast to continue facing difficulties in 2018 as the supply is increasing beyond demand, and because of technical barriers applied by importers such as the US and the European Union.
The US remained the largest importer of Vietnamese pepper in the reviewed period, with 2,697 tonnes worth US$12.3 million, accounting for 15.7% and 17.8% in volume and value of the country’s pepper exports.
Other markets witnessing the strongest surges in pepper import turnover from Vietnam were India (140%), Kuwait (up 104%) Pakistan (101%), and Thailand (84.9%).
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The biggest fall was reported in the Pakistan market, dropping by 50% to US$3,534 per tonne. Meanwhile, the highest export price was seen in the Australian market, reaching US$6,318 per tonne.
Vietnam’s pepper industry is forecast to continue facing difficulties in 2018 as the supply is increasing beyond demand, and because of technical barriers applied by importers such as the US and the European Union.
Vietnamese pepper products have been exported to 100 countries and territories, with Asia, Europe and the US being the biggest markets.
