Vietnam's Pepper Exports to Double This Year
Vietnam’s export revenues from pepper may double to around US$310 million by the end of 2007 despite sharp decrease in export volume, according to the Ministry of Agriculture and Rural Development (MARD).
Export prices have been rocketing since the beginning of the year, which is the major factor that contributes to the high revenues, the ministry said.
Vietnamese pepper was traded at US$3,670 a ton, up from US$1,540, or by 100 per cent, from the same period of last year. In the local market, one kilogram of pepper was offered at VND46,000 and VND48,000.
Vietnamese companies have so far this year notched up US$221 million from exporting 68,500 tons of pepper, up 27 per cent on year despite a volume decrease of 38 per cent.
Vietnam Pepper Association said the country is now the world’s biggest pepper exporter with a market s hare of 50 per cent.
Last year, the country exported 116,000 tons of pepper. (Vietnam & World Economy)
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