HANOI, Nov. 13 (Xinhua) -- The amount of Vietnam's pepper inventory for 2024 will be the lowest level in recent years because the country's pepper output of the 2022-2023 crop has all been exported, Vietnam News reported Monday citing the Vietnam Pepper Association.
In the long term, Vietnam's pepper supply is expected to be in short supply due to fierce competition from other crops such as durian and passion fruit, according to the association.
The Ministry of Industry and Trade's Import-Export Department forecast that Vietnam's pepper exports will remain at a low level because the domestic supply is no longer abundant and consumption demand in the U.S. and EU markets has not really improved.
In the last months of this year, the enterprises will export the imported and pre-existing inventory pepper with a volume of about 50,000 tons, the ministry said.
By the end of October 2023, Vietnam exported 223,578 tons of pepper of all kinds with a total export turnover of 750.8 million U.S. dollars, according to the General Department of Vietnam Customs. ■
