#pepper

Vietnam exported over 156,000 tonnes of pepper worth US$498 million during the first six months of this year, marking a rise of 26.6% in volume, but a drop of 11% in value over the same period from 2022, according to the Import-Export Department under the Ministry of Industry and Trade.

The Vietnamese pepper industry aims to rake in approximately US$2 billion from exporting between 400,000 tonnes and 500,000 tonnes of pepper by 2025, according to details given by the Vietnam Pepper and Spices Association (VPSA).

The EU-Vietnam Free Trade Agreement (EVFTA) is being effectively utilized by local enterprises amid the export turnover of peppers to the EU market expanding by 92.9% during the opening quarter of the year.

Despite a fall in its import volume, Vietnam’s pepper market share in the Republic of Korea remained on the rise during the opening eight months of the year, according to the Ministry of Industry and Trade (MoIT).

Vietnam pepper exports increased by 20.5% to 214,000 tons in 2017, but the value dropped by 22% to US$1.12 billion after the export price fell 34.7% against the previous year.

Nearly two weeks have passed since the particularly devastating heavy downpour and the floods that followed in the Central Highlands.