Pepper price today (July 23) fluctuates in the range of 67,000 – 70,500 VND/kg. Last week, the pepper market tended to move sideways, then increased slightly on Thursday (July 20). Compared to the beginning of the week, some key provinces recorded an increase of 500 VND/kg.
Update domestic pepper prices
Pepper price The domestic market was less volatile this week. Compared to the beginning of the week, the purchase price increased only slightly by 500 VND/kg in some key provinces on Thursday (July 20).
According to the survey, Gia Lai is still the locality with the lowest purchasing price at VND67,000/kg, unchanged from the price recorded on Monday.
At the same time, Dong Nai province has adjusted the pepper price to increase by 500 VND/kg, currently sharing the same price with the two provinces of Dak Lak and Dak Nong at 68,000 VND/kg.
Similarly, pepper prices in Binh Phuoc and Ba Ria – Vung Tau also increased by 500 VND/kg, to 69,500 VND/kg and 70,500 VND/kg respectively.
Price volatility in the past week. Unit: VND/kg. Synthetic: Peaceful
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According to records, the average export price of pepper in May was 3,106 USD/ton, down 1.6% compared to April and 31% compared to May 2022.
Considering in the first 5 months of the year, the average export price of the item dubbed “Vietnam’s black gold” was only 3,092 USD/ton, down 33.2% over the same period last year.
At the same time, pepper exports to most key markets decreased sharply in the first 5 years of the year. The largest markets recorded include the US, UAE, India, Germany and the Netherlands all saw a decrease of about 34-57%.
Among the top 10 key markets, only Turkey and Egypt have strong triple-digit growth rates, at 165% and 160% respectively. However, export turnover to these two markets accounts for a small proportion of Vietnam’s total export turnover.
The international pepper community has warned that the global market will remain lackluster as slowing global economic growth and weak demand from the US and Europe will hinder price increases. Meanwhile, speculators are pumping money into robusta coffee rather than spending it, according to the site peppertrade.
According to VietnamBiz.vn
