In the coming time, the global pepper market is forecast to be difficult due to the double impact of oversupply pressure and the negative impact of COVID-19.
Pepper export price in the first quarter of this year decreased by more than 18% compared to the same period last year. Photo: Internet
The average export price of pepper in the first 3 months of 2020 reached US $ 2,185 / ton, down 18.2% over the same period in 2019.
In the first four months of this year, according to the Ministry of Agriculture and Rural Development, Vietnam's pepper exports reached 117 thousand tons and 249 million USD, up 8.3% in volume but down 12% in value over the same period in 2019.
The 5 largest export markets of Vietnam pepper in the first 3 months were US, India, Myanmar, Pakistan and Germany respectively with 39.2% market share.
On the world market, pepper prices in April fluctuated unevenly between markets.
Prices of black pepper delivered at ports of Brazil and Malaysia were stable, while prices in India tended to decrease. In contrast, pepper prices of Vietnam and Indonesia tend to increase.
Specifically, pepper prices at Brazilian ports were kept at US $ 2,000 / ton, in Kuching (Malaysia) kept at US $ 3,685 / ton. Meanwhile, pepper price at Kochi port (India) decreased from USD 4,484 / ton to USD 4,387 / ton.
At HCM port in Vietnam, the average price of black pepper increased from US $ 1,995 / ton to US $ 2,145 / ton and black pepper price at Lampung port (Indonesia) increased from US $ 1,813 / ton to US $ 1,995 / ton.
Indian pepper prices were low due to higher production in 2020 thanks to favorable weather conditions in Kerala – one of India's main pepper growing areas.
The Department of Agricultural Product Processing and Market Development (MARD) forecasts that in the coming time, the global pepper market will still face difficulties due to the dual impact of oversupply pressure and the negative impact of the epidemic. Covid-19.
The supply of pepper continues to be supplemented when Vietnam is in the harvest season and has harvested over 50%.
In 2020, Vietnam's pepper supply is expected to reach about 350,000 tons of pepper, of which about 90,000 tons will be transferred to inventory in 2019.
In addition, pepper demand in many markets is still weak due to the impact of social gap and temporary halt of food service business to prevent Covid-19, especially in the US and EU. – 2 largest markets for pepper consumption in the world.
In the domestic market, pepper prices tended to increase in April. In particular, pepper prices in Ba Ria – Vung Tau and Dong Nai increased 1,500 VND / kg to 37,000 – 39,000 VND / kg; In Dak Lak, Dak Nong and Binh Phuoc, the increase was VND 1,000 / kg to VND 37,500 / kg; In Gia Lai, the price increased by VND 2,500 / kg to VND 37,000 / kg.
