Tuesday,18/08/2009 - 10:32

Vietnam 2009 pepper exports to fall below forecasts

Exporters need to try and secure better prices early to avoid being in a position later in the year of running out of stocks as prices rise, a Vietnam Pepper Association report seen on Wednesday said. The country has already exported 83,000 tonnes of pepper in the first seven months of this year, a rise of 43 percent from the same period last year but revenues have fallen 4.4 percent to $194 million, government statistics show. The report said the lower export projection for 2009 is based on domestic output of 95,000 tonnes, up from 91,000 tonnes last year but lower than a January industry forecast that the country would have a record output of around 100,000 tonnes. Vietnam& # 39;s output accounted for nearly a third of global production of 305,070 tonnes, based on the Jakarta-based International Pepper Community. Members include Vietnam, India, Indonesia, Brazil, Malaysia and Sri Lanka. Due to a lower output from the four-month harvest that ended in May, the stock carried forward to 2010 would fall to 15,000 tonnes from 20,000 tonnes in stock brought into this year from 2008, the report said. Pepper prices jumped to 44,000-46,000 dong ($2.47-$2.58) per kg this week in the central highland province of Daklak, from 38,500-40,000 dong last week. Daklak produced 12,198 tonnes of pepper this year, ranking it the country& # 39;s third-largest producer of the spice after Binh Phuoc and Gia Lai, the pepper association& # 39;s report said. margin: 0in 0in size="3" The pepper association said India, Indonesia and Malaysia, have been raising their spice imports from Vietnam this year for re-export. ($1=17,810 dong)<