Vietnam’s pepper export revenue projected to reach 1 bln USD in 2024

HANOI, Sept. 4 (Xinhua) — Vietnam could ship more than 1 billion U.S. dollars worth of pepper abroad for 2024 due to high global demand and limited supply, Vietnam News cited the Vietnam Pepper and Spice Association on Wednesday.
According to the Ministry of Agriculture and Rural Development, the average export price of pepper over the past eight months is estimated at 4,810 dollars per tonne, a significant increase of 47 percent compared to the same period last year.
Since Vietnam’s pepper stocks are now running low, the country’s pepper exports are expected to be lower than usual in the final months of this year, continuing until around March 2025 when the new harvest season begins, said the association.
The association also forecasts a fluctuation in pepper prices in the coming time due to formidable challenges in the market.
Vietnam exported 764.2 million dollars worth of pepper as of July 30 this year, according to the association’s latest data. ■