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Friday, July 12, 2024

Vietnam remains world’s biggest pepper exporter

By N. Tan

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HCMC – Despite pepper export volume tumbling due to China’s zero-Covid policy, global inflation and economic uncertainties in many countries, Vietnam has remained the world’s biggest pepper exporter this year.

Data from the Vietnam Pepper Association (VPA) showed that the country had shipped over 211,000 tons of pepper in the year through November, bringing in over US$900 million, up 4% over the same period last year.

Vietnam’s pepper exports in 2022 are expected to drop 13% to 230,000 tons valued at US$970 million, up 2% over 2021, while the export turnover of all spices may reach US$1.5 billion.

Apart from exporting, Vietnamese firms have also bought pepper from other countries this year, such as Brazil and Indonesia, to process and sell the commodity at a higher price. The nation imported over 34,200 tons of pepper in January-November, soaring 48.9% year-on-year.

The association released the figures during a seminar on promoting the export of Vietnamese pepper and other spices under the EU–Vietnam Free Trade Agreement (EVFTA) held in HCMC yesterday, December 21.

During the seminar, experts suggested that the industry focus on improving the quality of pepper, enhancing product values and maximizing the advantages brought by the EVFTA in the coming time, as it lowers tariffs to 0% for Vietnam’s pepper shipped to the EU market.

Thanks to the trade agreement, Vietnam’s pepper and spice industry has strengthened its foothold in the global market, outperforming other pepper exporters such as Indonesia, Malaysia, India, Sri Lanka and Cambodia, according to VPA.

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