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Pepper exports nothing to sneeze at ....
Pepper exports nothing to sneeze at Published on : September 13th, 2011 |
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Black pepper exporters shipped, more than 27,000 tonnes in the first quarter of the year, worth nearly US$66 million, an increase of 79.7 per cent in volume and 16 per cent in value over the same period last year, according to the Viet Nam Pepper Association. The enormous increase in export volume made up for declining prices on the world market to produce the more modest rise in export value during the period, the association explained. The price of pepper at the start of the year stood at around VND31,000 ($1.75) per kilo. This rose to around VND34,000 ($1.90) in late January-early February, before prices plunged again in mid-February to around VND28,000 ($1,60). Prices had remained depressed since due to the global recession, said association secretary Tran Duc Tung, with pepper growers seeing margins decline by 40 per cent since 2008. "Costs of materials, labour and interest have all risen, while farmers are selling at a cheaper price," Tung said, noting that companies that had large amounts of pepper stockpiled had also accepted small returns on their investment and sold out, rather than waiting for prices to go back up. Meanwhile, however, production volumes were up. "This year's crop yields have fallen but the area under cultivation has increased, so overall yields are up," said Tung. The association has estimated that 2009 yields would increase by 4,000 tonnes over 2008's crop, to a total of 95,000 tonnes. Source: VietNamNet/Viet Nam News |
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