Pepper exports hit 129 million USD in first two months

Vietnam exported over 41,000 tonnes of pepper worth 129 million USD in the first two months of this year, up 35% in volume, but down 7.4% in value over the same period from 2022, according to the Import-Export Department under the Ministry of Industry and Trade.

The average export price of the Vietnamese spice in February 2023 was 3,059 USD per tonne, a downturn of 11.1% compared to the previous month and 32.8% year-on-year.

During the reviewed period, its average export price stood at 3,177 USD per tonne, a fall of 31.4% compared to last year’s corresponding period.

In terms of the domestic market, prices of both black and white pepper in February increased sharply due to growing demand from the Chinese market.

The price of black pepper rose by between 8,000 VND per kg to 8,500 VND per kg (0.34- 0.36 USD), an increase of 13.9% to 15.3%, compared to January to reach between 64,000 VND and 65,500 VND per kg.

Meanwhile, white pepper rose 98,000 VND per kg, an increase of 6,000 VND per kg compared to the end of January, but still lower than the 121,000 VND per kg seen in the same period from last year.

The ministry has said the global pepper market is forecast to recover due to increasing demand from importers.