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| Pepper price today December 10, 2023, the market continues to increase, Vietnam sharply reduces imports from these two countries. (Source: Food and Wine) |
Pepper price today December 10, 2023 in the domestic market continued to increase slightly in some key localities, trading from 74,000 - 76,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 74,500 VND/kg.
Pepper prices today in Dong Nai province (74,000 VND/kg); Dak Nong, Dak Lak (75,500 VND/kg); Ba Ria - Vung Tau (76,500 VND/kg) and Binh Phuoc (76,500 VND/kg).
Thus, in the domestic market, pepper prices recorded an increase for 5 consecutive days, the highest at 76,500 VND/kg.
In the world market, the International Pepper Community (IPC) commented that the pepper market this week continued to show mixed reactions, with only Sri Lankan domestic pepper prices reported to have decreased. Indian pepper prices were reported to have been stable this week. Both domestic and international Indonesian pepper prices remained unchanged, while other markets increased.
According to the Vietnam Pepper and Spices Association (VPSA), in November 2023, Vietnam imported 1,988 tons of pepper of all kinds, of which black pepper reached 1,870 tons and white pepper reached 118 tons, with a total import turnover of 7.1 million USD, an increase of 1.4% compared to October.
The main importers include: Olam Vietnam: 781 tons, Lien Thanh: 351 tons, KSS Vietnam: 241 tons, Ptexim Corp: 216 tons and Tran Chau: 169 tons. Brazil is the main pepper supplier to Vietnam, reaching 1,350 tons, accounting for 67.9% and down 7.4% compared to the previous month.
By the end of November 2023, Vietnam had imported 24,490 tons of pepper of all kinds. Of which, black pepper reached 22,954 tons and white pepper reached 1,536 tons. Compared to the same period last year, the import volume decreased by 28.5%.
Brazil, Cambodia and Indonesia are the three main pepper suppliers to Vietnam, accounting for 62.6%; 14.3% and 12.6% respectively. Of which, imports from Brazil increased by 38.9% to 15,325 tons, from Cambodia decreased by 73.0% to 3,505 tons and from Indonesia decreased by 44.8% to 3,080 tons.
The main importing enterprises include: Olam Vietnam, Tran Chau, Lien Thanh, Gia vi Son Ha, KSS Vietnam, Nedspice Vietnam and Ptexim Corp, accounting for 84.6% of imports.
According to the latest report of the Import-Export Department (Ministry of Industry and Trade), in October 2023, Vietnam's pepper exports to many markets increased by 2 to 3 digits compared to the same period last year, including: India, Germany, Netherlands, South Korea, UK.
For the US market, pepper exports to this market increased by 20% in volume, but still decreased by 4.6% in value. In the first 10 months of 2023, pepper exports to most major markets decreased sharply compared to the same period last year, except for the Philippines.
In 2023, the average export price of pepper was lower than in 2022, affecting the export value of the item.
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