Today, Thursday, April 12, the price of black pepper at Ba Ria – Vung Tau market remained stable at VND 58,000 / kg, other markets remained within VND 55,000 – 57,000 / kg.
Read more: >> Pepper prices prospered but did not promise anything
>> World pepper prices were stable, domestic pepper prices hit a record low
Workers bag pepper at a collection point.
When Brazil offered to sell new pepper at a time when it was below $ 2,500 / ton and the volume of deliveries on the ship soared more than 100% compared to the previous year, causing the International Pepper Community (IPC) said Brazil would is a leading competitor of Vietnam's pepper industry. Many countries that have traditionally imported Vietnamese pepper have also turned to cheap sources of agricultural countries. “giant” in South America. In particular, some IPC pepper exporters have also imported pepper from Brazil to add value or deliver to traditional customers because domestic pepper prices are quite high like India and even Vietnam.
According to research, a number of foreign-invested export enterprises (FDI) in the South last year imported about 1,500 tons of pepper from Brazil when domestic pepper. “Hard to buy” due to farmers' price resistance. In the past, traders in Vietnam mainly imported pepper from Indonesia, and especially since the current crop, the volume of pepper from Cambodia is increasing and the volume is very significant.
According to information from the International Pepper Community, the global pepper market is still in the low-price zone for many years, so the export volume in many traditional markets is somewhat slower, while the supply of Indonesia and Malaysia also. Looking forward to the new crop in July and August. Perhaps it is also an opportunity for Vietnam to accelerate up and expand market share.
According to the preliminary report of the General Department of Vietnam Customs, the export in March 2018 reached 30,068 tons of all kinds of pepper, with a turnover of 106.18 million USD, up 132.5% in volume and 124.3% in volume. in terms of value compared to the previous month, bringing the export volume of pepper in the first 3 months to 60,033 tons, up 17.5% in volume but down 31.4% in value over the same period last year. The average export price in the period reached US $ 3,531 / ton, down 3.5% compared to the average export price of the previous month.
This is a monthly volume of pepper exports reaching a record level of Vietnam's pepper export history. The largest pepper export markets of Vietnam in the first 3 months of 2018 are the United States, India, Pakistan and the United Arab Emirates continue to account for more than 43% of the market share.
Today, Thursday, April 12, the price of black pepper at Ba Ria – Vung Tau market remained stable at VND 58,000 / kg, other markets remained within VND 55,000 – 57,000 / kg. The reason for the stable price of pepper in the past few days was due to speculative buying in the domestic market as agricultural speculators liquidated coffee and switched to pepper without waiting any more.
Pepper harvest in the Central Highlands, a key sub-region of pepper production, is in the final stage. In general, our country's pepper crop this year has lost crops in the old pepper growing areas but is compensated from newly developed areas, so the total output is still expected at around 180,000 – 200,000 tons of pepper. Vietnam is still the largest pepper producing and exporting country in the world.
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Source Young intellectuals / CafeF
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