The Government News quoted the Vietnam Pepper and Spice Association as forecasting that Vietnam’s pepper export revenue is likely to hit $1 billion this year.

In the first seven months of the year, the country exported more than 164,000 tons of pepper of all kinds, earning $764 million, dropping 2.2% in volume but surging 40.8% in value. 

The average export price of black pepper in the seven-month period reached $4,568 per ton, while that of white pepper reached $6,195 per ton, up 32.7% and 25% respectively, compared to the same period last year.

The US remained the biggest export market of Vietnamese pepper during the seven-month period with more than 43,000 tons, a year-on-year increase of 48%. It was followed by Germany with nearly 11,000 tons, up 97%, and the United Arab Emirates with around 11,000 tons, up 40%.