Pepper export revenue hits $690 mln in 5M

Vietnam exported nearly 100,000 tons of pepper in the first five months of the year, earning over $690.4 million, figures from Vietnam Customs showed.

The figures represent a year-on-year reduction of 8.6% in volume but a rise of 47.2% in value.

The strong growth in value is attributed to increasing export prices which averaged $6,909.7 per ton, skyrocketing 61.1% compared to the same period last year.

In May, over 26,300 tons of pepper were exported, worth $182.28 million, down 0.1% in volume but soaring 55.7% in value year-on-year.

The US remained the biggest importer of Vietnamese pepper, accounting for 24.7% of the total volume and 26.8% of the total revenue. The country imported 24,687 tons of pepper from Vietnam in the five-month period, worth $184.9 million.

It was followed by Germany with 8,451 tons, worth $63.67 million.