Pepper prices today in the domestic market are flat in some key localities, trading from 70,000 - 72,000 VND/kg.
Pepper price today June 12, 2023© Provided by World & Vietnam
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| Pepper prices today June 12, 2023, exports to China increased suddenly, orders to the US, EU, Saudi Arabia decreased, why? (Source: EMediHealth) |
Pepper price today The domestic market is flat in some key localities, trading from 70,000 - 72,000 VND/kg.
Specifically, pepper price Today in Gia Lai, Dong Nai, it is the lowest in the market at 70,000 VND/kg.
Pepper price today in Dak Nong and Dak Lak provinces (71,000 VND/kg); Binh Phuoc (71,500 VND/kg) and Ba Ria - Vung Tau are at the highest threshold of 72,000 VND/kg.
On the international market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Vietnamese black pepper trading at 3,500 USD/ton with 500 g/l and 550 g/l levels. 3,600 USD/ton; White pepper price is at 5,000 USD/ton.
Thus, after 5 consecutive sessions of price decline, the domestic pepper market recorded its first sideways session.
According to the Vietnam Pepper and Spice Association (VPSA), in the first 5 months of the year, Vietnam exported 131,777 tons of pepper of all kinds, with a total export turnover of 408.9 million USD.
Compared to the same period last year, export volume increased by 30%, however, export value decreased by 12.7%. The average export price of black pepper reached 3,443 USD/ton, white pepper reached 4,955 USD/ton, down 21.7% and 18.4% respectively compared to the same period in 2022.
Regarding the market, exports to the Asian region continue to be a bright spot, reaching 78,907 tons, an increase of 77.2% and accounting for 59.9% of Vietnam's total pepper export turnover; Of which China is the main export market reaching 46,169 tons, accounting for 35% and increasing 1,668.9% compared to the same period in 2022, exports to the Philippines reached 3,305 tons, increasing 26.1%.
Also in Asia, pepper exports to Saudi Arabia in the first 5 months of 2023 decreased by 25.3%, reaching 6,230 tons; Exports to India reached 4,989 tons, down 40.7%. Exports to the African region increased by 38.9%; Of which, Egypt reached 2,179 tons, an increase of 1,40%; Senegal reached 1,523 tons, an increase of 104.4% over the same period last year.
In the Americas, Vietnam's pepper exports in the first 5 months of the year decreased by 13.1%, accounting for 18% of market share; Of which, the amount exported to the US decreased by 15.5% to reach 21,093 tons. The European Union (EU) region currently accounts for 16.8% of Vietnam's total pepper export turnover, but 5-month export turnover decreased by 9.4% over the same period.
Regarding the cause of the decline in pepper exports to the US and EU, Ms. Hoang Thi Lien - President of VPSA explained that buyers in this area have the mentality of waiting for new crop shipments from Indonesia (July - August) and Brazil in the hope that the buying price will decrease.
In addition, the remaining inventory from previous years also helps buyers from the EU and US to delay entering the market in the past 5 months.
According to IPC's report, global pepper output in 2022 is estimated to reach 537 thousand tons, down 2% compared to 2021. The decrease in output mainly comes from Indonesia and Vietnam. It is forecast that global pepper production in 2023 will continue to decrease by about 1% compared to 2022, reaching about 531 thousand tons.
The latest report from Harris Freeman, a company specializing in the business of spices and herbs, shows that Vietnam's pepper output in the past season was quite positive, but there are concerns about the output of other countries such as Indonesia, Brazil, Malaysia…
Accordingly, in the Vietnamese market, prolonged rains during the growing stage of pepper fruit brought good yields in many production areas of Vietnam in the past season.
Similarly in Indonesia, last year's long rainy season led to a good harvest from January to February this year. But with three consecutive years of La Nina coming to an end, there are concerns this year's El Nino weather pattern could affect the country's productivity.
At the same time, heavy rains and floods in Brazil affected farming areas in the states of Espirito Santo and Bahia from December 2022 to January 2023.
Continuous rains and flooding have led to the spread of yellow leaf disease on pepper plants, especially in the northern regions of Espirito Santo. The harvest will begin in Brazil's southern provinces in June and too much rain could adversely affect production.
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