| While Vietnam leads the world in terms of area, output and export volume, the export price of pepper is the lowest in the world. (Source: Phnom Penh Post) |
Update world pepper prices
On the world market, at the end of the last session, the spot price of pepper at Kochi – India floor was at Rs 38,866.65 per quintal, unchanged compared to the previous session.
The cross rate of Vietnam Dong against Indian Rupee applied by the State Bank to calculate export tax and import tax effective from 13-19/5/2021 is 315.27 VND/INR.
Domestic pepper price
Today’s pepper price in the domestic market traded at 63,500 – 68,500 VND/kg in localities.
Specifically, today’s pepper price in Gia Lai, Dong Nai is the lowest in the market at 63,500 VND/kg.
Pepper prices today in Dak Nong, Dak Lak provinces (66,000 VND/kg); Binh Phuoc (67,000 VND/kg) and Ba Ria – Vung Tau at the highest level is 68,000 VND/kg.
In the first quarter of 2021, pepper prices in the world market increased, recording the highest level in March 2021.
In April 2021, pepper prices in Brazil and China decreased, while pepper prices in Vietnam, India, Malaysia and Indonesia increased compared to the end of March 2021.
According to information from the Import-Export Department (Ministry of Industry and Trade), it is forecasted that in the near future, global pepper prices will tend to go down.
Looking back at the 10-year journey of pepper export, it shows that Vietnam’s pepper export volume continuously increases every year. If in 2011, the export volume was only nearly 124,000 tons, by 2020, the export volume of pepper has reached 288 thousand tons, the highest ever.
The pepper industry officially entered the group of export billion USD in 2014 with export turnover of 1.2 billion USD, then reached 1.26 billion USD in 2015, set the milestone of 1.42 billion USD in 2016. .
However, from 2017 to now, pepper export turnover has continuously declined: in 2017 it was 1.12 billion USD; in 2018 down to 758.8 million USD; in 2019 is 722 million USD, in 2020 it is only 666 million USD, lower than the export value in 2010.
Worryingly, while Vietnam leads the world in terms of area, output and export volume of pepper, our country’s pepper export price is the lowest in the world.
According to the Department of Agricultural Product Processing and Market Development, in 2020, while Vietnam’s export price of pepper is only around 2,300 USD/ton, at the Malaysian port of Kuching, the price of black pepper and white pepper is exported. Malaysia’s exports remained stable at $3,675/ton and $4,900/ton.
Meanwhile, the export price of Indian black pepper at the port of Kochi reached $4,821 per tonne.
Currently, Vietnam’s pepper is still mainly exported raw, always competing by price in the low segment.
According to BQT
