Pepper exports face hurdles in global market

Vietnam’s pepper exports are poised to continue to encounter a number of difficulties as a result of low prices due to high levels of supply and increasing competition within the global market, according to the Import-Export Department under the Ministry of Industry and Trade.
pepper exports face hurdles in global market

At present, Vietnam is home to approximately 100,000 hectares of pepper, equivalent to an annual output of roughly 247,000 tonnes. While pepper prices remain low and pepper production costs have soared in recent years with a 10 per cent rise in comparison to 2017.

In 2018, the falling pepper prices negatively affected the pepper industry with the downward trend set to continue into the future, according to the Ministry of Agriculture and Rural Development.

The global demand for pepper currently stands at approximately 510,000 tonnes per year with an average annual increase of between 2 per cent to 3 per cent, while global pepper output is currently far higher at between 8 per cent and 10 per cent.

The world’s pepper output reached 557,000 tonnes in 2018 and is predicted to reach 602,000 tonnes by the end of the year.

Moreover, global pepper output is projected to rise to 1 million tonnes by 2050 due to growing demand throughout the world, resulting in fluctuations occurring in pepper prices in the coming time.

According to experts in the sector, despite pepper exports facing challenges, free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) are considered to present a wealth of opportunities for the nation’s pepper industry.

The Import-Export Department stated that in order to take full advantage of the benefits brought about by both the CPTPP and the EVFTA, local businesses must stay active in seeking information regarding the FTAs in order to firmly grasp the commitments that exist between Vietnam and partner markets.

This is particularly true when it comes to information related to tariff preferences, quality requirements, and rules of origin.

In order to initiate the raise of pepper prices, the sector has been advised to innovate its growth model and focus on quality from the raw material stage as a way of creating high-quality products which can make inroads into various demanding markets throughout the world.

Source: VNA

Related News

Traceability helps improve product value

Traceability helps improve product value

VCN - Traceability of origin has been and is a mandatory requirement for Vietnamese goods when exporting to several markets. The application of information technology and the use of QR codes is an effective solution in traceability, increasing value and promoting product consumption, especially agricultural products.

Latest News

Vietnamese pepper prices see strong upward trend

Vietnamese pepper prices see strong upward trend

The Vietnam Pepper and Spice Association has expected pepper prices to continue rising every week.
E-commerce boosts exports of Vietnamese products

E-commerce boosts exports of Vietnamese products

Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said.
Increasing the value of rice grains from the project of 1 million hectares of high quality rice

Increasing the value of rice grains from the project of 1 million hectares of high quality rice

VCN - The implementation of the project of 1 million hectares of high-quality rice will contribute to promoting the transition from traditional farming methods to synchronous mechanization, developing large-scale, stable and long-term concentrated raw material areas, ensuring sustainable and effective farming quality and minimizing environmental pollution. Vietnam is also the first country in the world to build a large-scale project on sustainable rice production and reduced emissions.
Hai Phong Port strengthen solutions to improve cargo handling capacity

Hai Phong Port strengthen solutions to improve cargo handling capacity

VCN - The flow of goods passing through Hai Phong port area has tended to improve recently.

More News

Five trends in exporting through e-commerce

Five trends in exporting through e-commerce

VCN - On May 22, 2024, Amazon Global Selling announced the prominent cross-border e-commerce (CBEC) trends shaping Vietnam's online export economy. Concurrently, it launched phase two of the program "CBEC: The breakthrough era" in collaboration with the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade.
Vietnamese firms urged to watch global trade policies

Vietnamese firms urged to watch global trade policies

Experts say Vietnamese firms should keep an eye on global trade moves by major economies to figure out how best to promote the consumption and export of products made in Việt Nam, in the context of a glut of cheap Chinese goods flooding the world market.
Vietnam’s tra fish export tipped to bounce back

Vietnam’s tra fish export tipped to bounce back

Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders.
FDI attraction in five months tops 11 billion USD

FDI attraction in five months tops 11 billion USD

More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Industry and Trade (MoIT)’s Foreign Investment Agency.
What to do to develop Vietnam

What to do to develop Vietnam's automobile industry when implementing FTAs?

VCN - On May 24, Customs Magazine organized a discussion on the topic "Vietnam's automobile industry implements the Free Trade Agreement: In which direction to develop?"
The processing and manufacturing industry increased by 6.3% in four months

The processing and manufacturing industry increased by 6.3% in four months

VCN - Continuing the recovery momentum from the end of 2023, industrial production in April and the first four months of 2024 continues to show a positive trend. Of which, the processing and manufacturing industry increased by 6.3%.
Capital city to become an agriculture hub

Capital city to become an agriculture hub

The city’s cash crops were said to not require a large cultivating area but a high standard of production and processing, which have been identified as a solid foundation to penetrate foreign markets.
Renewables – key to green development in Mekong Delta

Renewables – key to green development in Mekong Delta

Renewable energy is seen as a sustainable choice for the Mekong Delta region to respond to environmental challenges, given that the country’s rice and fisheries granary has lost up to 300 million USD to prolonged drought and extreme salt intrusion.
Promoting sustainable growth with a creative economy

Promoting sustainable growth with a creative economy

VCN - Although the creative economy is a fairly new concept, in reality in Vietnam, each year the export of creative goods is helping Vietnam earn billions of dollars.
Read More

Your care

Latest Most read
Traceability helps improve product value

Traceability helps improve product value

VCN - According to Dang Phuc Nguyen, General Secretary of Vietnam Fruit and Vegetable Association, currently, linking production with consumption of agricultural products plays a very important role in agricultural development, helping to enhance the bene
Vietnamese pepper prices see strong upward trend

Vietnamese pepper prices see strong upward trend

The Vietnam Pepper and Spice Association has expected pepper prices to continue rising every week.
E-commerce boosts exports of Vietnamese products

E-commerce boosts exports of Vietnamese products

Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said.
Increasing the value of rice grains from the project of 1 million hectares of high quality rice

Increasing the value of rice grains from the project of 1 million hectares of high quality rice

VCN - The implementation of the project of 1 million hectares of high-quality rice will contribute to promoting the transition from traditional farming methods to synchronous mechanization, developing large-scale, stable and long-term concentrated raw mat
Hai Phong Port strengthen solutions to improve cargo handling capacity

Hai Phong Port strengthen solutions to improve cargo handling capacity

The flow of goods passing through Hai Phong port area has tended to improve recently.
Mobile Version