Pepper export value down 7.4% in two months
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Vietnam exported over 41,000 tonnes of pepper worth $129 million in the first two months of this year, up 35% in volume, but down 7.4% in value over the same period from 2022
The average export price of the Vietnamese spice in February 2023 was $3,059 per tonne, a downturn of 11.1% compared to the previous month and 32.8% year-on-year, according to the Import-Export Department under the Ministry of Industry and Trade.
During the reviewed period, its average export price stood at $3,177 per tonne, a fall of 31.4% compared to last year’s corresponding period.
The ministry has said the global pepper market is forecast to recover due to increasing demand from importers.
Questions & Answers
Q.Why did the value of pepper exports fall despite an increase in volume?
Why did the value of pepper exports fall despite an increase in volume?
The average export price of Vietnamese pepper decreased significantly. In February 2023, the price was $3,059 per tonne, a downturn of 32.8% year-on-year, which impacted the overall export value.
Q.What was the average price per tonne for Vietnamese pepper exports during the first two months?
What was the average price per tonne for Vietnamese pepper exports during the first two months?
During the first two months of this year, the average export price for Vietnamese pepper was $3,177 per tonne. This represents a fall of 31.4% compared to the same period last year.
Q.What is the forecast for the global pepper market, according to the ministry?
What is the forecast for the global pepper market, according to the ministry?
The Ministry of Industry and Trade forecasts that the global pepper market is expected to recover. This recovery is anticipated due to increasing demand from international importers.
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