Vietnam's pepper exports raise in value: VPSA
Vietnam's pepper exports saw a 1.9% year-on-year decrease in volume but a significant 48% increase in value thanks to higher prices in the first 10 months of 2024, according to the Vietnam Pepper and Spice Association (VPSA).
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| Illustrative photo. (Source: VNA) |
In the period, Vietnam exported 219,387 tonnes of pepper, earning 1.1 billion USD, including 881.6 million USD from black pepper and 162.6 million USD from white pepper. The average export price of black pepper reached 4,971 USD per tonne, an increase of 1,528 USD compared to the same period last year, while that of white pepper hit 6,626 USD per ton, up by 1,671 USD.
In October alone, Vietnam exported 18,493 tonnes of pepper, up 7.9% from the same period last year. The export value reached more than 120 million USD, including 99.8 million USD from black pepper and 20.4 million USD from white pepper.
The US remained Vietnam's largest pepper export market in the 10 months, accounting for 28.5% of the total export volume with 62,553 tonnes, up nearly 47% year-on-year. Other major markets included the United Arab Emirates, Germany, India, and the Netherlands.
In addition to domestic production, Vietnam also imported pepper from other countries for processing and export. In October, pepper imports soared by over 98% from the previous month, hitting 4,818 tonnes worth over 29.3 million USD, primarily from Indonesia and Brazil. The respective figures for the 10 months were 28,596 tonnes and 131.3 million USD.
Regarding cinnamon, the Southeast Asian country shipped 79,516 tonnes worth 220.5 million USD abroad in the 10 months, a 6.4% year-on-year rise in volume. India, the US and Bangladesh were Vietnam's three main cinnamon export markets.
Meanwhile, Vietnam also imported 3,713 tonnes of cinnamon worth 9 million USD, a fall of over 73% compared to the same period last year.
(Source: VNA)
