| According to studies, the consumption market for pepper will continue to be difficult due to low prices when supply is greater than demand and fierce competition. (Source: EMediHealth) |
Update world pepper prices
On the world market, at the end of the last session, spot prices of pepper at Kochi – India were at Rs 41,000 / quintal (highest) and Rs 40,433.35 / quintal (lowest), up 333.3. Rupee / quintal compared to yesterday.
The cross rate of Vietnam dong against the Indian Rupee (INR) on April 17 was applied by the State Bank to calculate the import and export tax at 309, V65ND / INR.
Domestic pepper prices
Today’s pepper prices in the domestic market were traded at VND 66,000 – 71,500 / kg in localities.
Specifically, today’s pepper price in Gia Lai was the lowest in the market at VND66,000 / kg.
Today’s pepper prices in Dong Nai provinces (68,000 VND / kg); Dak Nong, Dak Lak (69,500 VND / kg); Binh Phuoc (70,500 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 71,500 VND / kg.
Pepper output in this year’s crop has generally decreased as expected at the beginning of the crop. It is forecasted that pepper prices in the coming time are likely to decrease due to concerns about the outbreak of Covid-19 outbreak.
According to the General Department of Customs, in 2020, Vietnam’s pepper export volume accounts for 59% of the global pepper export market share with 285,292 tons.
According to preliminary statistics of the Vietnam Pepper Association (VPA), in the first quarter of 2021, enterprises in Vietnam imported 8,143 tons of pepper from several markets.
In which, import of black pepper was 5,731 tons, white pepper was 2,412 tons. Compared to the same period in 2020, the import volume will increase by 5.8%.
Indonesia and Brazil are the two largest pepper exporting countries to Vietnam, accounting for 81.8% of total imports. Notably, the official import of pepper from Cambodia increased to 238.5%, reaching 606 tons.
Olam is the largest pepper exporter, but it also imports the most pepper. In the first quarter, Olam imported 3,155 tons of pepper, accounting for 38.8% of the total import volume and increased by 7.3% over the same period.
According to studies of the World Bank, Nedspice, IPC, Vietnam Pepper Association, world consumption markets are and will continue to face difficulties. The reason is that pepper prices are low when supply is greater than demand and fierce competition in the market.
World demand is currently about 510,000 tons / year. On average, the demand for pepper each year increases only 2-3%, while the global pepper output increases by 8-10%.
Although the domestic pepper output is plentiful, some Vietnamese exporters still import thousands of tons of pepper from Brazil. The reason is that pepper origin from this country is cheaper than the domestic price of 2,000-3,000 VND / kg. Pepper prices in the Brazilian domestic market are very cheap, only 2,000 – 2,500 USD / ton.
According to BQT
