Vietnamese Pepper Export Prices Soar 3 Folds on Year
Thin supplies of pepper in the world market have kept export prices of Vietnamese commodity at high levels since the beginning of 2008, the Vietnam Agriculture newspaper reported.
On April 16, Vietnamese pepper was traded at US$3,450 a ton of black pepper and US$5,250 a ton of white pepper, three times higher than that of last year.
In the local market, buying pepper prices are averaging at VND51,000-VND52,000 a kilo, pleasing local farmers who had sold pepper for only VND17,000-VND18,000 a kilo a year earlier.
According to the Vietnam Pepper Association (VPA), Vietnamese companies exported 15,000 tons of pepper worth US$53.6 million in the first quarter of 2008, down 12 per cent on year in volume but up 19 per cent in value.
The total export volume included 13,400 tons of black pepper and 1,800 tons of white pepper.
VPA forecast pepper prices in the world market will continue rising in the coming months due to high demand.
Vietnam may export US$310 million worth of pepper this year, up by US$40 million from 2007, the VPA added. (Vietnam Agriculture)
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