Pepper price jumps more than 50%

The price of pepper exports in the first quarter jumped by 53.8 % over the same period last year to reach nearly US$4,800 per tonne,

The price of pepper exports in the first quarter jumped by 53.8 % over the same period last year to reach nearly US$4,800 per tonne, said head of the Information and Statistics Centre under the Ministry of Agriculture and Rural Development Nguyen Viet Chien.

Thanks to this sharp increase, pepper export value in the first quarter hit $85 million, matching last year’s figure.

“The same value was hit despite the fact that the total export volume in Q1 was only 18,000 tonnes, 25 % less than last year,” Chien said.

In March alone, pepper exports reached 8,000 tonnes, worth $38 million.

According to the Viet Nam Pepper Association, domestic pepper production had developed strongly, and signs of a high yield harvest were evident this year.

The association added that pepper crops in Tay Nguyen (Central Highlands) provinces had recovered following last year’s drought, saying that the total pepper exported this year could increase by 5 %.

Around 60 % of the world’s pepper is grown in Viet Nam, and the US, Germany and Holland are the three largest importers.

Last year, the country exported nearly 117,000 tonnes of pepper, worth $421 million. The numbers were up by 20.3 % in value but down by 13 % in volume compared with 2009. – VNS

Tags: Vietnam Pepper, Vietnam Pepper prices