February alone witnessed the country’s pepper exports hit 13,450 tonnes, worth US$54.5 million, an annual decrease of 23% and 22% in volume and value, respectively.

The average export price of the product increased by 28% compared to the previous year to US$4,021 per tonne.

In the domestic market, prices of black pepper in February in the Central Highlands rose sharply to between VND93,500 - 95,500 per kg, up between 45% to 47% year on year.

The United States remained the top purchaser of Vietnamese pepper during the two-month period, accounting for 28.3% of the total export value, followed by India and Germany.

Meanwhile, pepper exports to China throughout the reviewed period endured a sharp fall, dropping to 816 tonnes compared to the 10,209 tonnes recorded in the same period from last year.

As a consequence, China was the 10th largest consumer of Vietnamese pepper, with the market share only accounting for 2.6% of overall Vietnamese pepper exports compared to 25.3% last year.

Elsewhere, February saw pepper exports to Italy witness a sharp increase, reaching 193 tonnes worth US$769,000, an annual rise of 1,187% in volume and 1,241% in value.

This year’s pepper crop is projected to decrease by 10% to around 170,000 tonnes, the lowest level recorded in the last five years.

Source:VOV