In line with these figures, Vietnamese pepper exports reached 123,640 tonnes, worth US$560.22 million in the first half of the year, a decline of 19.7% in volume, but a rise of 12.8% in value against the same period from last year
The average export price of Vietnamese pepper in June reached US$4,134 per tonne, representing the lowest level since October, 2021, up 15.5% compared to May, 2021, duly bringing the export price for the six-month period to US$4,531 per tonne, an annual rise of 40.5%.
The first half of the year saw pepper exports to a number of markets endure a downward trajectory, including exports to the United States, the United Arab Emirates, the UK, and Pakistan.
In contrast, pepper exports to several other markets increased, including exports to India, Germany, the Netherlands, the Republic of Korea, the Philippines, and Thailand.
However, the global pepper market continues to face difficulties due to the COVID-19 pandemic in China coupled with geopolitical tensions in Eastern Europe, both of which have shown no signs of abating.
Moving forward, pepper prices are forecast to continue to decline in the near future due to high global inflation, thereby affecting the global economy, according to insiders./.