Pepper prices today (September 25) ranged from 64,000 to 67,000 VND/kg. In the past 6 days, the pepper market tended to go down. Provinces and cities recorded a decrease of 500 – 1,000 VND/kg compared to the beginning of the week.
Update domestic pepper prices
Pepper prices this week tend to go down in key provinces in the country. Compared to the beginning of the week, the purchasing price decreased by 500-1,000 VND/kg.
According to the survey, the lowest price of 64,000 VND/kg is currently recorded in Gia Lai province.
The two provinces of Dak Lak and Dak Nong both recorded the purchase price of 65,000 VND/kg. Better than Dong Nai with 65,500 VND/kg.
After fluctuations during the week, pepper prices in Binh Phuoc and Ba Ria – Vung Tau are at 66,000 VND/kg and 67,000 VND/kg, respectively.
Price movements in the past week. Unit: VND/kg. Synthetic: Thao Vy
Update information on world pepper
The European Union (EU) is one of the world’s leading pepper import markets. Currently, the supply of pepper to the EU is mainly from the external market, according to the latest report from Import and Export Department (Ministry of Industry and Trade).
The strong dependence on pepper supplies from developing countries also means that virtually all intra-EU trade (including re-exports) initially comes from developing countries. Therefore, the EU is a market that any pepper producing country wants to penetrate deeply and widely.
In the EU, nearly 90% of imported black pepper is whole pepper, the remaining 10% is ground pepper. EU importers prefer whole pepper because it is easy to inspect and control for safety and quality.
In addition, properly dried whole pepper can preserve flavor for a long time. Consumption of black pepper is expected to continue to increase at a steady rate thanks to the increase in EU population.
It is expected that EU pepper imports are likely to increase at an annual growth rate of about 1-2%. EU markets have a price advantage over Asian markets for exporters of high quality and sustainable black pepper.
In the first 6 months of 2022, the EU imported 35.9 thousand tons of pepper from the external market, worth EUR 170.53 million, up 8.9% in volume and 68% in value over the same period last year. year 2021.
In which, the EU imported pepper from Vietnam reached approximately 19.8 thousand tons, worth EUR 94.27 million, up 27.6% in volume and 103.4 percent in value over the same period in 2021. .
Vietnam’s pepper market share in total EU imports increased from 31.25% in the first 6 months of 2021 to 37.36% in the first 6 months of 2022.
In contrast, the EU reduced pepper imports from Brazil with a decrease of 12.4% in volume, but an increase of 46.4% in value over the same period in 2021, reaching 8.91 thousand tons, worth 34.39 million EUR.
Brazil’s pepper market share in total EU imports decreased from 20.49% in the first 6 months of 2021 to 16.84% in the first 6 months of 2022.
To penetrate the EU market, pepper products must fully meet the standards of quality, packaging and labeling. With the above analysis results, it can be seen that, in addition to making good use of the opportunities brought by the EVFTA, Vietnam’s pepper industry has well fulfilled the strict requirements of the EU market.
According to VietnamBiz.vn
