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Pepper exports to hit 900 million USD in 2014

Vietnam’s pepper export may hit 850 million USD this year and are expected to rise to 900 million USD in 2014, according to the Vietnam Pepper Association (VPA).
Vietnam’s pepper export may hit 850 million USD this year and areexpected to rise to 900 million USD in 2014, according to the VietnamPepper Association (VPA).

At a conference on thesustainable development of the pepper sector on October 18 in Ho ChiMinh City, VPA Chairman Do Ha Nam said by the end of September, thecountry had already shipped abroad nearly 114,000 tonnes of pepper for755 million USD.

Maintaining this export rate, thesector’s inventories at the end of the year are expected to stand low,while production in 2014 is forecast to increase just slightly, he said.

Nam added that as demand for pepper will remain steady, it is hoped that the product’s price will stay stable in 2014.

However, from 2015 onwards, global pepper production is forecast torise sharply, bringing prices down and leading to stricter qualityrequirements in importing markets.

Therefore, theVPA proposed that local authorised agencies should review their realpepper cultivation area for timely adjustments, while seeking suitablesolutions to the planning of pepper production and trade.

The association advised farmers to focus more on quality rather thanquantity, heading to a sustainable production process.

It also made a number of recommendations to farmers and businesses toincrease production and trade efficiency, including choosing the besttime for export, applying market stabilising measures and staying moreactive in regulating domestic and export price and minimisingspeculation.-VNA
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