Business

Pepper export revenue forecast to reach 1 bln USD this year

Earnings from pepper export are forecast to reach 1 billion USD this year thanks to growing prices and demand, especially in China.
Pepper export revenue forecast to reach 1 bln USD this year ảnh 1Harvesting pepper in Dak Lak (Photo: VNA)

Hanoi (VNA) – Earnings from pepper export are forecast to reach 1 billion USD this year thanks to growing prices and demand,especially in China.

The General Department of Vietnam Customs said pepper exportrevenue soared by 47 percent annually to 719 million USD in the first nine months of thisyear, mainly driven by rising world price. Meanwhile, the Vietnam Pepper Association (VPA) estimated that 230,000tonnes of pepper were shipped abroad as of the late October, bringing home around 800 million USD.

According to the Vietnamese Ministry of Industry and Trade’sDepartment of Export-Import Administration, pepper imports of most key markets rose in early 2021, except for China which  only bought 41,000 tonnes in January-September this year, down 7.2 percentannually. Therefore, its import demand is predicted to soar later this year,thus exerting a positive impact on Vietnam’s pepper export prices.

Notably, Vietnam’s share in China’s pepper importshiked from 25.66 percent in the first nine months of 2020 to 30.54 percent in the same period this year.

However, the VPA said the volume of pepper stock in Vietnam for the last two months of the month is not high, estimated at around 25,000 – 30,000 tonnes available for export this year. With the export prices of some 4,000 USD pertonne, earning revenue could reach around 100 million USD or beyond in tworemaining months of this year./.

VNA
#General Department of Vietnam Customs #Vietnamplus #Vietnam News Agency #pepper export #Vietnam Pepper Association #export prices Vietnam
Follow VietnamPlus

Related News

Pepper export volume down 5.7 percent in first half

Pepper export volume down 5.7 percent in first half

Vietnam exported over 166,800 tonnes of peppercorn worth 356 million USD in the first half of 2020, down 5.7 percent in volume and 21.1 percent in value compared to the same period last year, according to the General Department of Customs.
Vietnam sees surges in pepper exports to France in 7 months

Vietnam sees surges in pepper exports to France in 7 months

Vietnam exported to France 2,860 tonnes of pepper for 8.18 million EUR (9.6 million USD) in the first 7 months of this year, up 28.6 percent and 44.3 percent in volume and vallue, respectively, against a year earlier, according to the Ministry of Industry and Trade’s Agency of Foreign Trade.

See more

Prime Minister Pham Minh Chinh speaks at the dialogue with the US business community in Hanoi on May 13. (Photo: VNA)

US businesses affirm long-term commitment to Vietnam

During the meeting, US delegates expressed appreciation for the Vietnamese Government’s goodwill and for its efforts to maintain a favourable investment climate. They proposed Vietnam continue enhancing its business environment by addressing bottlenecks in administrative procedures, non-tariff barriers, taxation, and fees, while ensuring infrastructure conditions, transparency, and rules of origin

Consumers at a supermarket in HCM City (Photo: baodautu.vn)

Vietnam, US push for balanced trade

Imports from the US are predicted to rise sharply in the coming months as large Vietnamese enterprises are accelerating purchases from the North American market in efforts to balance bilateral trade.

The reduction of bank staff will continue to be strong in 2025, as banks are promoting digital transformation and restructuring operations to improve cost management efficiency. (Photo: vnbusiness.vn)

Banks cut staff, transaction branches amid digital promotion

VietinBank will be the first bank in the country’s group of four largest State-owned commercial banks (Big4) to cut the number of its transaction offices. According to a plan released at VietinBank’s annual general meeting of shareholders (AGM) recently, the bank is expected to cut hundreds of transaction points to streamline the system in 2025.

The Binh Duong Centralised IT Zone is located within the Binh Duong Industrial – Service – Urban Complex. (Photo baobinhduong.vn)

Binh Duong develops new 16-hectare centralised IT zone

The establishment of a new centralised information technology (IT) zone in Binh Duong Province marks a significant step in the locality’s digital transformation strategy and its ambition to build a knowledge-based economy.

Workers manufacture electronic components. (Photo: VNA)

PM orders overhaul to improve business environment

The dispatch further highlights the need for comprehensive measures to enhance governance capacity, accelerate socio-economic progress, and improve the investment and business landscape with a clear emphasis on sustainable development and environmental stewardship.

Prime Minister Pham Minh Chinh (centre) and other delegates attend the groundbreaking ceremony for the Ninh Binh–Hai Phong Expressway Project’s section passing through Nam Dinh and Thai Binh provinces. (Photo: VNA)

Transport, industrial development essential for Thai Binh to be wealthier: PM

​The groundbreaking ceremonies of the Ninh Binh–Hai Phong Expressway Project’s section and the Hung Phu Industrial Park in Thai Binh affirm the government’s determination to create an attractive investment and business environment for both domestic and foreign investors; foster provincial and regional connectivity, generate momentum and open new development space for Thai Binh and the northern coastal region.

Representatives from Vietnam Airlines and Russia’s state-owned VTB Bank exchange the MOU on cooperation. (Photo: nhandan.vn)

Vietnam Airlines signs MoU on cooperation with Russia's VTB Bank

The MoU also demonstrates Vietnam Airlines' efforts to expand its partnership in the international market, while affirming its pioneering role in connecting Vietnam with the world, contributing to the sustainable development of Vietnam-Russia relations in the new period.

An auto assembly line at Kim Long Motor Hue in the Chân May - Lang Co Economic Zone in the central city of Hue. (Photo: VNA)

Vietnam eyes 8% growth in 2025 through strategic reforms

With decisive policy actions, proactive diplomacy and strategic reform priorities, the country is now aiming for an ambitious GDP growth target of 8% or more this year - a goal lawmakers and experts believe is within reach, provided key breakthroughs are implemented effectively.

Hanoi applies a model providing support in business establishment. (Photo: hanoimoi.vn)

Hanoi targets 30,000 new enterprises in 2025

By the end of 2024, the number of registered enterprises in the capital city reached over 400,000, with about 220,000 operating. Notably, more than 98% of the operating firms are SMEs which create jobs for 55.1% of the local workforce and contribute over 40% of the city’s gross domestic product (GDP).

Delegates press the button to activate TH Group's milk processing plant in Borovsk district in Kaluga oblast of Russia on May 11. (Photo: VNA)

TH Group inaugurates large-scale dairy processing plant in Russia

The plant has a total capacity of 1,000 tonnes per day, with the first phase producing 500 tonnes daily. All milk used at the plant is sourced from TH’s high-tech farms in the Moscow and Kaluga oblasts. TH milk boasts a high nutritional profile, with a fat content of 4.0% and protein at 3.2% — among the highest quality levels in Russia.