9M pepper exports hit over $1 billion

Vietnam exported 203,000 tons of pepper worth over $1 billion in the first nine months of the year, figures from the General Department of Vietnam Customs show.

The figure represents a decrease of 1.5% year-on-year in volume but an increase of 46.9% in value.

In September alone, 20,000 tons of pepper were shipped, earning $125 million, skyrocketing 10.4% in quantity and 84.9% in value compared to the same period last year.

The average export price in the nine-month period reached $4,941 per ton, soaring 49.2% year-on-year.

In September, the export price hitting $6,239 per ton, the highest rate over the past years.

The US remaining the top importer of Vietnamese pepper in the nine-month period, with 5,466 tons. It was followed by UAE, Hong Kong (China), Germany and the Netherlands.

Exports to Asia accounted for the largest proportion among other regions with 37.8% or over 75,800 tons. The exports, however, dropped 33.7% year-on-year.

Meanwhile, exports to America reached over 62,600 tons, soaring 49.6% year-on-year and to Europe, over 50,700 tons, up 33.6%.

The sector is expected to gain export revenue of $1.3 billion this year.