Vietnam 2010 pepper exports down, revenue soars

HANOI (Commodity Online) : World’s largest pepper producer and exporter, Vietnam witnessed drop in exports this year compared with 2009 despite increase in earnings due to global price hike of the commodity.
The Southeast Asian nation exported 1,10,000 metric tons of pepper this year against 1,35,000 metric tons in 2009, according to Vietnam’s General Statistics Office.
The Office also expected first two months of 2011 to remain weak in exports as the crop of 2011 is delayed and and exporters will be active only in March 2011 after the Tet holidays in February will create a squeeze for the spice and we will see a rally in prices most likely in the first quarter of 2011 itself.
Vietnam earned $397 million from pepper export in the first eleven months of this year, a year-on-year increase of 23%, said the Office.
Vietnam’s major markets for pepper in the first eleven months include the United States, Germany and the United Arab Emirates, said the report.
In 2009, Vietnam exported 137,000 tons of pepper, earning $356 million , a year-on-year increase of 51.3% in volume and 14.3% in value, the Office added.
Indonesia the second largest producer of the spice has exported 45000 mt of Black pepper most of it to United States of America is completely withdrawn from the market with the stocks in that country dropping to decade lows with exports close to 100,000 mt in 2009 and 2010.
India currently only in the 4th spot as a producer has moved down to the 5th place in exports in 2010 has ended with 14000 mt of exports and more than 50% of this pepper was imported from other countries for value addition.
Malaysia has performed well than India in the year 2010 thanks to the heavy domestic consumption in India.

(Source: http://www.commodityonline.com/news/Vietnam-2010-pepper-exports-down-revenue-soars-35162-3-1.html)