Pepper producers set sights on US$2 billion exports by 2025
With pepper exports reaching US$1.4 billion last year, the Vietnamese pepper and spice sector are likely to rake in US$2 billion in export turnover by 2025, according to insiders.
The ambitious target was unveiled at a conference held in Hanoi on April 21 seeking ways to help Vietnam become a sustainable supplier of both pepper and spices.
In her speech, Hoang Thi Lien, president of the Vietnam Pepper Association, noted that Vietnam currently ranks first in pepper export proportion and export output, adding that there remains ample room for further development of pepper cultivation.
According to the official, the enforcement of free trade ageeements that Vietnam has signed with its partners has created comparative advantages for farm produce, including pepper and other spices, in the global market thanks to the country’s geographic location, climate and soil conditions.
However, she said the pepper sector is anticipated to endue numerous challenges due to geopolitical factors and stringent requirements set by importers, especially issues related to pesticide residues, as well as unpredictable developments of climate change.
She emphasised the need to strengthen connectivity among the State, enterprises, craft associations, and farmers, whilst simultaneously building a brand to improve the industry’s competitiveness and achieve the goal of sustainable development in the future.
The Vietnam Pepper Association reported Vietnam exported 76,727 tonnes of pepper worth US$235.9 million during the first quarter of the year, up 40.5% in volume but down 7.3% in value year on year.
