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| In the first six months of 2023, China purchases 50,369 tons of pepper, up 798%. (Photo: baodautu.vn) |
This information was released by the Vietnam Pepper and Spices Association (VPA) at a meeting held on August 8 to review the situation of the pepper and spice industry in the first 6 months of 2023, and assess opportunities and challenges for the industry in 2023.
Specifically, by the end of June 2023, Vietnam exported 152,986 tons of pepper of all kinds, including 138,377 tons of black pepper and 14,609 tons of white pepper. Total export turnover reached USD485.9 million USD.
Compared to the same period last year, export volume increased by 21.8% but export turnover decreased by 14.6%. The reason was that the export price in the first 6 months of the year decreased, at only USD3,484 per ton for black pepper, down USD879 per ton; and USD5,011 per ton for white pepper, down USD1,070 per ton.
In which, China purchased 50,369 tons of pepper, up 798%, nearly 8 times over the same period last year. With the sudden increase in import volume, China became the largest importer of Vietnam's pepper.
According to VPA, the figure was brought about by the fact that China reduced pepper purchases in 2021 and 2022, leading to an increase in the demand this year.
The pepper export market is showing positive signs. Firstly, the supply of pepper in some countries such as Brazil and Indonesia is decreasing due to crop failure. Secondly, demand in major markets such as the US, Europe and China is expected to increase with preparations for the year-end festival.
Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper and Spices Association (VPSA), also added that thanks to the many free trade agreements (FTAs) signed, the group of agricultural products including spice crops have absolute comparative advantage in the global spice market, because Vietnam has advantages in geographical location, weather, climate and soil.
Therefore, it is necessary to have a close connection in the supply chain, build a brand, and improve competitiveness to achieve the industry's export target of over USD2 billion in the next 3 years./.