Vietnam: Pepper industry takes advantage of opportunities to the UK market
06 October 2022, VN: Vietnamese pepper exporters have great business opportunities in the UK market, which has high demand for pepper imports.
According to industry experts, Vietnamese exporters can also take advantage of the supply shortage in the UK to increase exports of items such as pepper to the UK due to the impact of the COVID-19 pandemic, Brexit and international sanctions against Russia led to supply instability and caused a shortage of goods in the UK. Currently, the UK is the second largest pepper importer and consumer in Europe after Germany, and Vietnam’s pepper exports to the UK market have increased sharply in recent years.
In 2020, Vietnam exported 5,621 tons of pepper to the UK market, earning 48 million USD, out of a total of 14,000 tons of pepper and 121 million. At the end of 2021, Vietnam’s pepper exports to the UK increased sharply compared to 2020, with an increase of 49%. In the first four months of 2022, pepper continues to be one of Vietnam’s main agricultural exports to the UK, alongside coffee and cashews.
According to the Vietnam Trade Office in the UK, pepper is among Vietnamese agricultural products that have a strong position in the UK and sold well in supermarkets. This agency said that Vietnamese agricultural products such as pepper have an advantage in the UK compared to similar products from other countries who have no free trade agreement (FTA) with the UK as UKVFTA has completely abolished the regulations on tax policy for pepper imported from Vietnam. However, local businesses can only take advantage of these competitive advantages if they meet British quality standards and suit the taste of their customers.
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