Pepper prices today (January 21) fluctuate between 79,500 – 82,500 VND/kg. Last week, the pepper market tended to go up. Compared to the beginning of the week, key provinces recorded an increase from 1,500 VND/kg to 2,500 VND/kg.
Update domestic pepper prices
Pepper price This week generally increased in the domestic market. Compared to the beginning of the week, purchasing prices in key provinces increased by 1,500 – 2,500 VND/kg.
According to the survey, the lowest price is currently 79,500 VND/kg recorded in Dong Nai province, an increase of 1,500 VND/kg. Slightly higher is Gia Lai province with 80,000 VND/kg, an increase of 2,500 VND/kg.
The two provinces of Ba Ria – Vung Tau and Binh Phuoc increased by 2,500 VND/kg and 1,500 VND, respectively, to 81,500 VND/kg and 82,000 VND/kg, respectively.
Similarly, pepper prices in Dak Lak and Dak Nong provinces are currently at the same level of 82,500 VND/kg, corresponding to an increase of 1,500 VND/kg.
Update pepper information
Entering 2024, export pepper prices are already at a higher level than in 2023. According to data from the International Pepper Association (IPC), ending the trading session earlier this week (January 15), black pepper prices Vietnam is at 3,900 USD/ton with 500 g/l type, 550 g/l type is at 4,000 USD/ton and white pepper price is at 5,700 USD/ton.
According to a representative of the General Department of Customs, in 2023, Vietnam will export nearly 270,000 tons of pepper, with a value nearly reaching the 1 billion USD mark. However, the outlook for this year will be even “brighter” in the context of the US reducing pepper imports from India and switching to buying from Vietnamese suppliers because of good prices and increasingly high quality.
Vietnam’s pepper industry is also positively evaluated for its processing capacity with the proportion of processed products accounting for about 30% of total export turnover.
To anticipate business opportunities, many businesses have proactively expanded investment to improve productivity and quality. Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, shared that the company is currently leading in export pepper output, surpassing even foreign corporations in Vietnam when exports to Europe account for 15%. market share.
Recently, the business signed an investment of up to 320 million USD from a foreign investor. With this capital, Phuc Sinh plans to build a deep processing factory in 2024, expecting the company to soon develop explosively.
“The fact that Phuc Sinh received investment at a reasonable cost price is good news,” Mr. Thong said, adding: “To get a good valuation, Vietnamese businesses need to show their partners their strengths and weaknesses. Transparency and sustainable development are essential factors that agricultural businesses that want to receive investment from abroad need to pay attention to.
Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper Association, said that Vietnam currently occupies an important position in the production and export of products such as pepper, cinnamon, star anise, and chili. , cloves, ginger, cardamom, nutmeg…
However, currently only pepper led by VPA has built a national brand. Other Vietnamese spices are still not clearly positioned on the world spice map.
Accordingly, the value earned from growing spices by Vietnamese farmers is currently only low because they are mainly sold in the form of raw materials and through intermediaries.
The lack of a leading and coordinating role for the entire spice industry makes this industry still stop at the level of spontaneous development based on the resources of each individual, at the level of each individual enterprise. Banking Times reported.
The VietnamBiz.vn
