HANOI, April 24 (Xinhua) -- Vietnam's pepper exports reached 70,248 tons, worth more than 294 million U.S. dollars in the first four months of this year, down 21.8 percent in volume, but up 7 percent in value compared to the same period in 2023, Vietnam News Agency reported Wednesday, citing the General Department of Customs.
In 2024, the average export price of pepper reached 4,189 dollars per ton, an increase of 36.8 percent over the same period in 2023, said the report.
According to the Vietnam Pepper and Spice Association, the recent increase in pepper prices is due to low supply, high price of the U.S. dollar, and conflicts in the world making transportation difficult. In addition, speculation is another reason for the increase.
The association said the area and output of Vietnamese pepper were decreasing due to high competition and market fluctuations that created favorable conditions for development of other crops such as coffee and durian. ■