Export turnover from all spices is forecast to hit $1.5 billion this year, according to the Vietnam Pepper Association (VPA).

In particular, Vietnam has retained its position at the top of global rankings in pepper exports, a conference in Ho Chi Minh City on December 21 to discuss the promotion of exports of pepper and spices under the EU-Vietnam Free Trade Agreement (EUVFTA) heard.

Vietnam has shipped about 230,000 tons of peppercorn overseas this year, worth more than $970 million, down 13 per cent year-on-year but up 2 per cent, respectively.

VPA Chairwoman Hoang Thi Lien said Vietnam has an advantage over other pepper-producing countries such as Indonesia, Malaysia, India, Sri Lanka, and Cambodia thanks to the EUVFTA. Under the trade pact, the EU’s import taxes on Vietnamese ground pepper are cut from 4 per cent to zero per cent.

The Vietnamese industry is also highly regarded for its processing capacity, as the proportion of processed goods currently accounts for about 30 per cent of total export turnover, she said.