Domestic pepper prices
According to the survey, pepper prices today continue to decline in the provinces.
Among them, the provinces of Dak Lak, Gia Lai, Dak Nong and Dong Nai are anchored at the lowest level of 89,000 VND/kg, down 500 – 1,500 VND/kg depending on the region.
Traders purchased pepper in Ba Ria – Vung Tau and Binh Phuoc at prices of 89,500 VND/kg, down 500 VND/kg and 1,000 VND/kg respectively.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
89,000 |
-1,500 |
|
Gia Lai |
89,000 |
-1,000 |
|
Dak Nong |
89,000 |
-1,000 |
|
BA Ria Vung Tau |
89,500 |
-500 |
|
Binh Phuoc |
89,500 |
-1,000 |
|
Dong Nai |
89,000 |
-500 |
World pepper prices
According to an update from the International Pepper Association (IPC) on April 14 (local time), Lampung black pepper prices (Indonesia), Brazilian black pepper prices ASTA 570 and Kuching black pepper prices (Malaysia) ASTA remained stable. compared to April 13.
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
April 13 |
April 14 |
% change |
|
|
Lampung black pepper (Indonesia) |
4,463 |
4,463 |
0 |
|
Brazilian black pepper ASTA 570 |
4,450 |
4,450 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, Muntok white pepper prices, while Malaysian ASTA white pepper prices had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
April 13 |
April 14 |
% change |
|
|
Muntok white pepper |
6,179 |
6,179 |
0 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
In a recent document sent to the Government, the Vietnam Pepper and Spice Association (VPSA) said that Vietnam is still ranked top 1 in the world in pepper production and export. However, in the context of competition and favorable market fluctuations for other crops such as coffee and durian, the area and output of Vietnamese pepper are decreasing.
The association said this year’s pepper output is expected to decrease by 10% to about 170 thousand tons compared to last year, the lowest level in the last 5 years.
This agency is concerned that the level of competition from rival countries will become increasingly fierce, especially Brazil. Accordingly, this country has had a breakthrough in the last 5 years from 80 thousand tons in 2018 and is now expected to reach 100 thousand tons in 2024. This country’s exports reach 80 thousand tons in 2023.
“Therefore, all efforts and support need to be focused on pepper to ensure stable area and output. Vietnam continues to take the initiative, playing a role in regulating world market prices as it currently does. today,” VPSA said.
In addition, VPSA hopes that state agencies will support and mobilize foreign partners to consider expanding investment activities in Vietnam.
The association said that the global corporation McCormick (USA) currently invests in many countries such as India, China and some European countries. This is also the largest importer of US spices. In 2023, the US will import 54 thousand tons of Vietnamese pepper, accounting for 20.5% of exports to markets. Of which McCormick imported 3.5 thousand tons.
However, this business has not expanded its investment in Vietnam even though it is the partner importing the most pepper. This company is currently just stopping being a partner and choosing a number of large companies to supply pepper for export to the US market.
According to VietnamBiz.vn
