High prices are encouraging new plantations in some countries, but these will take two or three years to have an impact on supply, Lê Việt Nam from the association said.
According to the Vietnam Pepper Association (VPA), deeply processed pepper products accounted for about 30 per cent of total export value in 2023, up from 20-25 per cent a few years ago, but still not commensurate with the potential.
At the beginning of the week, pepper prices averaged VNĐ152,700 per kilogramme, nearly 80 per cent higher than at the start of the year and double that of last year.
The Việt Nam Pepper and Spice Association (VPSA) forecasts that pepper exports this year will reach over US$1 billion, returning pepper to the group of billion-dollar commodities.
In January-July, Việt Nam exported 164,357 tonnes of pepper, comprising 145,330 tonnes of black pepper and 19,027 tonnes of white pepper, with total export revenue reaching $764.2 million, up 40.8 per cent.
Data from the Vietnam Pepper and Spice Association (VPSA) showed that Việt Nam exported 142,586 tonnes of pepper worth US$634.2 million in H1, down 6.8 per cent in volume but up 30.5 per cent in value.
The pepper prices on July 18 in some key pepper producers of Việt Nam continue to be under downward pressure for the third consecutive day, with the domestic pepper price standing around VNĐ148,000 per kilo.
Experts say that this week the domestic and international pepper prices will not increase as fast as they did last week, but the market is not ready to cool down and it is likely to anchor at over VNĐ120,000 per...
Ending April, pepper exports reached 83,783 tonnes, worth $353 million, marking a decrease of 18.3 per cent in volume but an increase of 11.5 per cent in value year-on-year.