The Ministry of Agriculture and Rural Development (MARD) forecasts thatthe price of pepper in the world market will continue rising due to asharp decrease in supply.
The Ministry ofIndustry and Trade’s Trade Information Centre reported that this year’spepper output of Vietnam and India – the first and second blackpepper producers and exporters in the world – fell by 20 percent and 30percent, respectively. In addition, pepper production of othercountries, including Indonesia and Malaysia , failed to recordsatisfactory results.
The global pepper outputis estimated to drop 60,000 tonnes this year, lower than the WorldPepper Association’s forecast or down by 18 percent year on year toaround 230,000 tonnes.
The shortage in peppersupply has contributed to the increase in the world’s prices whichfluctuated at 3,300 USD-3,800 USD per tonne in June, a year-on-year riseof around 80 percent.
This helped boostVietnam ’s pepper export price in the second quarter of 2010 to 3,170USD per tonne, an increase of 4.8 percent over the first quarter of theyear and 40.5 percent year on year.
The countryexported around 75,000 tonnes for 234 million USD in the first half ofthe year, representing year-on year increases of 9 percent in volume and47.3 percent in value.
Pepper prices in thedomestic market also increased over recent months to 60,000 VND per kgin June, a year-on-year increase of 67 percent.
MARD warned businesses not to sign big export contracts to avoid thelack of goods for exports when the price is high.
Businesses should pay attention to pepper processing to increase thevalue of exports to the world market, especially the US , the biggestVietnamese pepper importer./.
The Ministry ofIndustry and Trade’s Trade Information Centre reported that this year’spepper output of Vietnam and India – the first and second blackpepper producers and exporters in the world – fell by 20 percent and 30percent, respectively. In addition, pepper production of othercountries, including Indonesia and Malaysia , failed to recordsatisfactory results.
The global pepper outputis estimated to drop 60,000 tonnes this year, lower than the WorldPepper Association’s forecast or down by 18 percent year on year toaround 230,000 tonnes.
The shortage in peppersupply has contributed to the increase in the world’s prices whichfluctuated at 3,300 USD-3,800 USD per tonne in June, a year-on-year riseof around 80 percent.
This helped boostVietnam ’s pepper export price in the second quarter of 2010 to 3,170USD per tonne, an increase of 4.8 percent over the first quarter of theyear and 40.5 percent year on year.
The countryexported around 75,000 tonnes for 234 million USD in the first half ofthe year, representing year-on year increases of 9 percent in volume and47.3 percent in value.
Pepper prices in thedomestic market also increased over recent months to 60,000 VND per kgin June, a year-on-year increase of 67 percent.
MARD warned businesses not to sign big export contracts to avoid thelack of goods for exports when the price is high.
Businesses should pay attention to pepper processing to increase thevalue of exports to the world market, especially the US , the biggestVietnamese pepper importer./.
