The export price for Vietnamese pepper fell by 13.8 percent in August to 6,500 USD per tonne against July, said the Ministry of Agriculture and Rural Development.

Nguyen Viet Chien, director of the ministry's Information and Statistics Centre, said the reduction in the export pepper price was due to high supply in the world market and low demand for pepper in Europe and Western Asia .

The export price of Vietnamese pepper is expected to continue reducing until the end of this year, Chien said.

The fall in price pushed the export value of pepper in August down by 12 percent against July to 57 million USD, while the export volume of pepper in August surged lightly by 0.82 percent month-on-month to 7,000 tonnes, he said.

However, the average export price of Vietnamese pepper in the first eight months saw a year-on-year increase of 25.3 percent to 6,855 USD per tonne.

The nation gained a year-on-year increase of 3.7 percent in total export value of pepper in the first eight months to 581 million USD despite a year-on-year decrease of 16.7 percent in volume to 83,000 tonnes.

day, Vietnam continues to be one of the world's leading pepper exporters, accounting for 40 - 50 percent of the global volume. /.