Pepper prices today (February 5) ranged from 56,000 to 59,000 VND/kg. Last week, the pepper market fluctuated slightly. Compared to the beginning of the week, the key provinces recorded an increase of 500 – 1,000 VND/kg.
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Pepper prices this week are mostly stable, only fluctuating on Thursday (2/2) and Friday (3/2). Compared to the beginning of the week, the purchasing price in key provinces increased by 500 – 1,000 VND/kg.
According to the survey, the lowest price currently at 56,000 VND/kg was recorded in Gia Lai province, an increase of 500 VND/kg.
Next are the three provinces of Dak Lak, Dak Nong and Dong Nai with the same level of 57,000 VND/kg after an increase of 500 VND/kg.
Similarly, pepper prices in Binh Phuoc and Ba Ria – Vung Tau increased by 500 VND/kg and 1,000 VND/kg, respectively, at 58,000 VND/kg and 59,000 VND/kg, respectively.
Price volatility in the past week. Unit: VND/kg. Synthetic: Thao Vy
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According to data from Cambodia’s Ministry of Agriculture, Forestry and Fisheries, the country’s pepper exports in 11 months of 2022 reached 8,303 tons, down more than 70% over the same period.
Currently, Cambodia is exporting pepper to 20 countries and territories with the main products being ordinary pepper and Kampot pepper, a geographical indication product.
Mr. Mak Ny, Chairman of the Cambodia Pepper and Spices Federation (CPSF), said that pepper exports fell because the global economy has not yet recovered from the impact of the COVID-19 pandemic. The lack of tourists has led to a decrease in orders for consumer goods such as pepper.
Cambodia’s annual pepper production is about 20,000 tons with an area of nearly 7,000 hectares, but this output has decreased by about 10-20%. Mr. Mak Ny said that pepper is grown mainly for export because domestic consumption accounts for only 5-7% of production each year.
According to Mr. Ngoun Lay, Chairman of Kampot Pepper Promotion Association (KPPA), sales have decreased significantly from the beginning of 2022 until now. As of November, Kampot pepper exports reached just over 80 tons, while the same period was over 114 tons.
Orders appear to have leveled off with most companies blaming the euro’s devaluation against the dollar, as most European customers use dollars to buy pepper from the association. In addition, the prolonged crisis in Ukraine also led to a decrease in orders.
“Due to the conflict in Ukraine, the demand for luxury products by people in the EU decreased, so orders also decreased,” said Ngoun Lay.
He also added that this trend will continue this year, as traders have started asking farmers to reduce the price of Kampot pepper. However, farmers still do not agree because their profits are low
