Harvesting pepper in Binh Phuoc. Photo: Broadcast by VNA
Pepper price on May 15 increased by 2,000 – 3,000 VND/kg compared to yesterday. Currently, domestic pepper prices are trading around 105,000 – 107,000 VND/kg.
Specifically, Dak Lak increased 2,000 VND/kg, purchasing pepper at 106,000 VND/kg; In Dak Nong, pepper price today increased slightly to 105,500 VND/kg.
Similarly, Gia Lai pepper price today increased sharply to 106,000 VND/kg. Dong Nai traders bought pepper at a price of 105,000 VND/kg, an increase of 3,000 VND/kg. The latest pepper price in Ba Ria – Vung Tau is 107,000 VND/kg, also increased by 3,000 VND/kg.
In Binh Phuoc, traders increased their purchases by 3,000 VND/kg, trading pepper at a price of 106,000 VND/kg.
Regarding exports, the Vietnam Pepper and Spice Association said that by the end of April 2024, Vietnam had exported 83,067 tons of pepper of all kinds; of which black pepper reached 73,555 tons, white pepper reached 9,512 tons.
Total pepper export turnover reached 352 million USD. Compared to the same period last year, export volume decreased by 19.4%, but turnover increased by 10.3%. The average export price of black pepper in 4 months reached 4,065 USD/ton, white pepper reached 5,678 USD/ton, up 19.4% for black pepper and 14.5% for white pepper respectively over the same period last year.
Olam Vietnam is the leading export enterprise in the first 4 months of 2024 reaching 8,359 tons, an increase of 55.1% compared to the same period in 2023 and accounting for 10.1% of the export market share. Next are Nedspice Vietnam businesses with an increase of 25.7%; Pearl decreased 15.1%; Lien Thanh increased by 76.1% and Haprosimex JSC increased by 24%.
The United States is Vietnam’s largest pepper export market, accounting for 27.4% and increasing by 45.2% over the same period. Overall, exports to the entire Americas region increased by 40.6% and accounted for 30.2% of the export market share. Exports to Asia still account for the largest proportion at 36.2%, however compared to the same period, it decreased by 52%; The sharpest decrease was in the Chinese market by 95.2%.
The European region accounted for 26.8% of the export market share and increased by 33.6% compared to the same period last year; The leading markets are: Germany, Netherlands, Russia…
Exports in the first months of 2024 will change significantly, while Vietnam and Brazil decreased, India and Indonesia are two countries with increased exports.
The reason is said to be that output in Vietnam decreased, while in Brazil it was forecast to increase at the end of the year, but the impact of climate change has made this country’s output not as expected, leading to insufficient supply.
From the beginning of the year until now, pepper prices have increased about 25%. The reason comes from a decrease in supply due to the impact of bad weather and people shrinking their area. The Vietnam Pepper and Spice Association forecasts that this year’s output is expected to decrease by 10% to about 170,000 tons compared to last year, the lowest level in the last 5 years.
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