Experts urge Vietnam to change growth strategy of pepper industry
Experts have urged Vietnam to change the growth strategy of its pepper industry and enhance quality to take advantage of free trade agreements (FTAs), Vian Industry News reported referring to the chairman of Vietnam Pepper Association (VPA), Nguyen Nam Hai.
The official underlined that the country’s pepper sector had faced difficulties this year due to the declining selling prices. Furthermore, it booked slow growth in comparison to a year earlier. Also, between January and July 2019, the value of Hanoi’s pepper sector dropped by 0.8% to USD 514 million despite the volume growth.
Currently, Vietnam has about 100,000 ha of pepper with a total output capacity of 247,000 tonnes. The world's pepper output this year is expected to grow further and Vietnam’s growth alone is projected to reach 9% year-on-year, Vian Industry News added.Original source: Vian Industry News