Update domestic pepper prices
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Pepper prices continued to increase sharply in key provinces last week. Accordingly, pepper transaction prices increased by about 22,000 – 30,000 VND/kg in the surveyed provinces.
In detail, traders in the provinces buy an average of 167,000-168,000 VND/kg in the provinces.
Update pepper information
According to VPSA, China’s pepper import demand in the first months of the year was low because the previous year’s inventory still remained. But there are signs that in the second quarter of this year, China will enter the market, first with white pepper and then with black pepper. Last year, China was the largest market for Vietnamese pepper with an import volume of more than 60,000 tons.
Besides China, pepper exports to the US and European markets also reached their highest level in the past 4-5 years.
In the first 5 months of the year, Vietnam exported a total of 114,424 tons of pepper of all kinds with a turnover of 493.1 million USD, a decrease of 13.2% in volume but an increase of 20.6% in export turnover. % compared with the same period last year.
The average export price of black pepper in 5 months reached 4,197 USD/ton, white pepper reached 5,804 USD/ton, an increase of 754 USD for black pepper and 849 USD for white pepper respectively compared to the same period in 2023.
The US is Vietnam’s largest pepper export market in 5 months with a volume of 30,466 tons, accounting for 26.6% and increasing by 44.4% over the same period. Pepper exports to other major markets also increased sharply such as: Germany increased by 103.2%; India increased by 39%; Netherlands increased by 48.6%; Italy increased by 179%; Russia increased by 49.7%… China alone decreased by 89.4% to 4,871 tons.
Vietnam’s leading pepper exporters in 5 months include: Olam Vietnam reaching 10,762 tons, an increase of 56.7%; Nedspice Vietnam reached 8,749 tons, an increase of 15.8%; Haprosimex JSC reached 8,113 tons, an increase of 51.1%…
According to VietnamBiz.vn
