Saturday, December 20, 2008

Vietnam's pepper exports to reach yearly target of US$310m

Vietnam will reach its target of exporting US$310 million in pepper by the end of this year, helping the country cement its number-one position in the world pepper market, according to the Vietnam Pepper Association (VPA).

The country exported 86,000 tonnes of pepper over the past 11 months to earn a turnover of US$300 million, the association said.

Despite global economic difficulties, world demand for pepper would still rise by 15 percent, or 50,000 tonnes, next year, a representative from the India Pepper and Spice Trade Association predicted.

Meanwhile, the International Pepper Community (IPC) forecast that the world pepper supply would be lower than the demand due to the world’s shrinking pepper cultivation area as well as the recent poor weather and disease outbreak in major pepper exporting nations like India, Brazil and Indonesia.

Vietnam would remain the world’s leading pepper exporter in the coming years, said the IPC.

The Vietnamese pepper industry is playing a more important role in the world pepper industry, said VPA general secretary Truong Thi Thong.