Today's pepper price in the domestic market continues to decrease in some key localities, trading from 70.000 - 73.000 VND/kg.
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| Pepper price today 10/6/2023, paradoxically selling more goods but collecting less money, need to monitor the push-pull of supply and demand. (Source: Haprosimex) |
Today's pepper price in the domestic market continues to decrease in some key localities, trading from 70.000 - 73.000 VND/kg.
Specifically, today's pepper price in Gia Lai, Dong Nai is the lowest in the market at 70.000 VND/kg.
Pepper prices today in Dak Nong, Dak Lak provinces (71.000 VND/kg); Binh Phuoc (72.500 VND/kg) and Ba Ria - Vung Tau at the highest level is 72.500 VND/kg.
On the international market, at the end of the latest trading session, the International Pepper Community (IPC) listed the price of Vietnamese black pepper at $3.500/ton with 500 g/l grade, 550 g/l grade at $3.600/ton; white pepper price at 5.000 USD/ton.
Thus, the domestic pepper market recorded the 4th consecutive decrease in price this week.
According to the Vietnam Pepper and Spices Association (VPSA), in May 5, Vietnam exported 2023 tons of pepper of all kinds, 28.759 tons of black pepper and 25.850 tons of white pepper.
Total export turnover reached 89,6 million USD, black pepper reached 76,8 million USD, white pepper reached 12,8 million USD, compared to the previous month, the export volume increased by 9,4%, the turnover increased by 7,5%.
The average export price of black pepper in May reached US$5/ton, white pepper reached US$3.540/ton, up US$5.024 and US$85 respectively compared to April 154.
Enterprises in the Export Association increased by 11,2%; enterprises outside the Export Association increased by 7,2%.
Progressively from January 1 to May 1, 31, Vietnam exported 5 tons of pepper of all kinds, of which black pepper reached 2023 tons, white pepper reached 131.777 tons. Total export turnover reached 119.832 million USD, black pepper reached 11.945 million USD, white pepper reached 408,9 million USD.
Compared to the same period last year, export volume increased by 30,0%, equivalent to 30.438 tons, however, export turnover decreased by 12,7%, equivalent to a decrease of 59,5 million USD. The average export price of black pepper in 5 months reached 3.443 USD/ton, white pepper reached 4.955 USD/ton, down 21,7% and 18,4% respectively over the same period.
It is forecasted that pepper prices in the coming time will remain at a high level with the support from the buying demand of the Chinese market.
Also according to VPSA, to assess whether the price will increase again or not, it is necessary to monitor the pull of supply - demand in the near future.
Psychologically, everyone wants the price of pepper to increase, people want the price to go up to support costs and businesses also want the price to go up to share profits with people.
At the same time, the State itself also needs good prices to increase export turnover. However, VPSA still needs to evaluate whether the pull of supply and the push of demand can do that.
