Pepper exports expected to reach 1.3 billion USD
While many Vietnamese agricultural export items have faced difficulties
in terms of market and price, pepper exports have showed rapid growth
and affirmed its leading position in the global market, the Vietnam
Economic News reported.
While many Vietnamese agricultural export items have faced difficulties
in terms of market and price, pepper exports have showed rapid growth
and affirmed its leading position in the global market, the Vietnam
Economic News reported.
Vietnamese pepper export earnings exceeded 1 billion USD by the middle of September and will likely reach 1.3 billion USD by the end of the year. Regarding export markets, the US continued to be Vietnam’s largest pepper buyer, followed by Singapore, the UAE, India and the Netherlands.
The International Pepper Community (IPC) said that global pepper supply would not meet demand from now to the end of this year since major pepper exporting countries like India and Indonesia have reduced their production by 15-20 percent thus providing opportunities for Vietnamese pepper export businesses to increase their exports.
Vietnam joined the IPC in March 2005 and is currently its newest member. However, its position has increased as Vietnamese pepper is currently available in over 90 countries and territories, accounting for about 30 percent of the global pepper production and 50 percent of global pepper exports.
The Vietnam Pepper Association (VPA) said that Vietnamese pepper took first place in the world in terms of pepper export volume. The sector has maintained pepper growing areas and productivity, while increased the quality of pepper by investing more in post-harvest processing.
In addition, Vietnamese businesses have also reduced exports via middle traders and increased direct sales to material suppliers of seasoning processing factories in foreign countries.
VPA Chairman Do Ha Nam said that pepper exports would see a quick growth in the near future but this would not ensure sustainable development in the long term. After a period of rapid growth, pepper exports may cool down. For this reason, now it is the right time for the Vietnamese pepper sector to focus on improving processing technology to increase the quality of pepper and meet global food safety standards. Meanwhile, it is necessary to progressively increase the percentage of white pepper to increase the added value and profits.
It is also important to coordinate pepper exporters for mutual benefits based on reliable market information and forecast. Businesses need to connect with the banking system to obtain sufficient capital for purchasing and reserving pepper materials from the beginning of the harvest.-VNA
Vietnamese pepper export earnings exceeded 1 billion USD by the middle of September and will likely reach 1.3 billion USD by the end of the year. Regarding export markets, the US continued to be Vietnam’s largest pepper buyer, followed by Singapore, the UAE, India and the Netherlands.
The International Pepper Community (IPC) said that global pepper supply would not meet demand from now to the end of this year since major pepper exporting countries like India and Indonesia have reduced their production by 15-20 percent thus providing opportunities for Vietnamese pepper export businesses to increase their exports.
Vietnam joined the IPC in March 2005 and is currently its newest member. However, its position has increased as Vietnamese pepper is currently available in over 90 countries and territories, accounting for about 30 percent of the global pepper production and 50 percent of global pepper exports.
The Vietnam Pepper Association (VPA) said that Vietnamese pepper took first place in the world in terms of pepper export volume. The sector has maintained pepper growing areas and productivity, while increased the quality of pepper by investing more in post-harvest processing.
In addition, Vietnamese businesses have also reduced exports via middle traders and increased direct sales to material suppliers of seasoning processing factories in foreign countries.
VPA Chairman Do Ha Nam said that pepper exports would see a quick growth in the near future but this would not ensure sustainable development in the long term. After a period of rapid growth, pepper exports may cool down. For this reason, now it is the right time for the Vietnamese pepper sector to focus on improving processing technology to increase the quality of pepper and meet global food safety standards. Meanwhile, it is necessary to progressively increase the percentage of white pepper to increase the added value and profits.
It is also important to coordinate pepper exporters for mutual benefits based on reliable market information and forecast. Businesses need to connect with the banking system to obtain sufficient capital for purchasing and reserving pepper materials from the beginning of the harvest.-VNA
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