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A farmer dries pepper to sell to export companies in Dak Lak Province. Viet Nam's pepper export volume and price have risen this year. — VNS File Photo
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HCM CITY (Biz Hub) — The Viet Nam Pepper Association said pepper exports are likely to be 130,000-135,000 tonnes this year for a record value of US$900 million, up 12 per cent from last year.
In the first 10 months, 123,000 tonnes were exported for $817 million, an increase of 19.7 per cent in volume and 17.1 per cent in value.
VPA chairman Do Ha Nam said both export volumes and prices had risen this year.
"If a tonne was priced at $900 in 2001, it has now gone up to more than $7,000," he said.
"That was a dream for many pepper growers."
But this is just for raw pepper and processed pepper fetches much more, he said.
In the domestic market, prices have increased by 30 per cent this year to more than VND160,000 a kilo, he said.
"Global pepper supply is much lower than demand, which has kept prices high.
"In this situation, pepper exports would reach $1 billion soon."
Viet Nam, the world's largest exporter, earned $800 million last year.
It exports the spice to more than 80 countries and territories, with the US, EU, and Asia being the largest importers.
The crop is grown mainly in the provinces of Binh Phuoc, Gia Lai, Dak Lak, Dak Nong, Dong Nai, and Ba Ria-Vung Tau. — VNS