Pepper exports exceed forecast by $78 mil

Pepper exports were better than forecast this year Do Ha Nam, chairman of the Vietnam Pepper Association, said.

Vietnam exported more than 128,000 tons in the first 11 months, an increase of 18,000 tons from last year, he said.

It was worth $328 million, $78 million higher than forecast.

This translates into a 52.4 percent increase in quantity and 11.9 percent rise in value.

The US was the biggest importer, buying 12,687 tons for $36.32 million in the first 10 months, he said.

This was 13.9 percent higher in volume terms but the value was 5.8 percent lower.

Exports to Germany shot up by 118 percent to 12,086 tons, worth $33 million.

Analysts said stocks fell sharply by the beginning of last month in leading pepper- producing countries to 45,000-46,000 tons.

In Vietnam, pepper farmers in some areas will begin their harvest by the beginning of February next year. Production is expected to be 5-7 percent lower after recent storms damaged crops.

The country’s pepper output in 2010 is expected to top 100,000 tons.

Global prices are forecast to move up as global demand has not shown any signs of decline while production in leading export nations like India and Indonesia is expected to fall because of unfavorable weather and pests.

Compiled by Thuy Doan

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