Today, Thursday, April 12, the price of black pepper in Ba Ria – Vung Tau market is still stable at 58,000 VND/kg, other markets still fluctuate in the range of 55,000 – 57,000 VND/kg.
Read more: >> Pepper prices rebounded, but did not promise anything yet
>> World pepper prices are stable, domestic pepper prices are at a record low
Workers pack pepper bags at a purchasing point.
When Brazil offered to sell new-season pepper, the price sometimes dropped below $2,500/ton and the volume of goods delivered to the ship skyrocketed by more than 100% compared to the previous year, causing the International Pepper Community (IPC) to assume that Brazil will is the leading competitor of Vietnam’s pepper industry. Many countries that have traditionally imported Vietnamese pepper have also turned to cheap sources of agricultural products. “huge” in this South America. In particular, some IPC pepper exporters have also imported pepper from Brazil to add added value or deliver to traditional customers because the domestic pepper price is quite high like India and even Vietnam.
According to research, some export enterprises with foreign capital (FDI) in the South last year imported about 1,500 tons of pepper from Brazil when domestic pepper “hard to buy” due to price resistance by farmers. Previously, traders in Vietnam mainly imported pepper from Indonesia and especially since the current crop, the volume of pepper from Cambodia is increasing with a very significant volume.
According to information from the International Pepper Community, the global pepper market is still in the low price range for many years, so the export volume in many traditional markets has slowed down, while the supply of Indonesia and Malaysia is also low. are looking forward to the new crop in July and August. Perhaps it is also an opportunity for Vietnam to accelerate its rise and expand its market share.
According to the preliminary report of the General Department of Vietnam Customs, exports in March 2018 reached 30,068 tons of pepper of all kinds, with a turnover of 106.18 million USD, an increase of 132.5% in volume and an increase of 124.3 %. in value compared to the previous month, bringing the export volume of pepper in the first 3 months to 60,033 tons, up 17.5% in volume but down 31.4% in value over the same period last year. The average export price of pepper in the period reached 3,531 USD/ton, down 3.5% compared to the average export price of the previous month.
This is the monthly pepper export volume that reaches the record level of Vietnam’s pepper export history. The largest pepper export markets of Vietnam in the first 3 months of 2018 are the United States, India, Pakistan and the United Arab Emirates, which continue to account for more than 43% of the market share.
Today, Thursday, April 12, the price of black pepper in Ba Ria – Vung Tau market is still stable at 58,000 VND/kg, other markets still fluctuate in the range of 55,000 – 57,000 VND/kg. The reason pepper prices have remained stable in the past few days is thanks to speculative buying in the domestic market when agricultural speculators liquidated coffee and switched to pepper without waiting any longer.
Harvesting pepper in the Central Highlands, the key lake production area, has entered the final stage. In general, this year’s pepper crop of our country failed in the old pepper growing areas, but it was compensated from the newly developed areas, so the total output was still within the expected range of about 180,000-200,000 tons of bucket pepper. Vietnam is still the largest pepper producer and exporter in the world.
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