Recognizing this morning, pepper prices in the past week suddenly increased by 1,000 VND / kg in Gia Lai and Dong Nai provinces, bringing the price of raw material pepper in the Southern and Central Highlands regions to 45,000 – 48,500 VND / kg. However, pepper prices returned to a stable trend in the rest of the week, bringing pepper prices to an average of 46,000 VND / kg.
Price volatility in the past week. Unit: VND / kg. Synthesis: Y Phuong.
According to the Vietnam Pepper Association (VPA), the Vietnam pepper harvest 2020 ends with an estimated output of 240,000 tons, down 15% compared to 2019.
In addition to climate change factors, low prices have no longer attracted farmers to care for pepper gardens, along with the situation of pests and diseases leading to a decrease in the productivity of pepper gardens. Production is difficult, but consumption is even more difficult when exporters are heavily affected by COVID-19.
According to the Import and Export Department, in the first half of 2020, pepper exports reached 166.8 thousand tons, worth nearly 356 million USD, down 5.7% in volume and 21.1% in value over the same period. year 2019.
The average export price of pepper was USD 2,134 / ton, down 16.4% over the same period in 2019.
Coffee prices on the rise in the middle of the week
On record this week, after gaining momentum at the beginning of the week, coffee prices started to increase slightly by 100 VND / kg in the middle of the week, increasing by 800 VND / kg at current prices ranging from 32,400 to 34,900 VND / kg.
Coffee price fluctuations in the past week. Unit: VND / kg. Synthesis: Y Phuong.
The ICO July report also said that coffee production for the whole year 2019 – 2020 demand is estimated at 168.01 million bags, down 2.9% from last year.
In which, arabica coffee production decreased by 5.4% to 95.37 million bags because of output decrease in 7 out of 10 biggest Arabica producers. In contrast, Robusta production is estimated to increase 0.5% to 72.63 million bags.
Global coffee consumption is estimated to increase 0.3% to 168.49 million bags, well below the average annual growth rate of 2.2% over the past two decades. Even so, the global economic slowdown is expected to cause strong early-season growth to fall.
According to VietnamBiz
