Pepper price today July 18, 2023, 2024 pepper crop may be greatly affected, Vietnamese pepper export price in the first 6 months of the year decreased by nearly 30%

Pepper prices today in the domestic market remained stable in some key localities, trading from 67,000 - 70,000 VND/kg.

Pepper price today July 18, 2023, the 2024 pepper crop may be greatly affected, Vietnamese pepper export price in the first 6 months of the year decreased by nearly 30%. (SOURCE: Vieson)

Pepper prices today in the domestic market remained stable in some key localities, trading from 67,000 - 70,000 VND/kg.

Specifically, today's pepper price in Gia Lai is the lowest in the market at 67,000 VND/kg.

Pepper prices today in Dong Nai province (67,500 VND/kg); Dak Nong, Dak Lak (68,000 VND/kg); Binh Phuoc (69,000 VND/kg) and Ba Ria - Vung Tau are at the highest level of 70,000 VND/kg.

In recent years, the pepper growing area in Vietnam has been decreasing, leading to increasingly low inventories. The El Nino phenomenon in 2023, causing hot temperatures lasting from mid-April, could greatly affect the upcoming pepper crop.

Following the harvest in Indonesia, farmers in Malaysia and southern Brazil will harvest this year's pepper crop.

According to the assessment, the severe weather caused by floods in Espirito Santo from October 2022 to February 2023 in Brazil will cause the country's pepper output to decrease in 2023. According to the forecast of the International Pepper Community (IPC), Brazil's pepper output in 2023 will decrease by 8% compared to 2022, reaching about 106 thousand tons, accounting for 21% of global pepper output.

IPC added that Malaysia's pepper output in 2023 is forecast to reach 23,000 tonnes, up 5% year-on-year. Along with the increase in output, IPC also forecasts Malaysia's pepper exports to increase this year.

Meanwhile, India's pepper output is expected to decrease by 9% in 2023 compared to 2022, to about 64,000 tons. Global pepper output in 2023 is forecast to continue to decrease by about 1% compared to 2022, reaching about 531 thousand tons.

According to the latest report of the Import-Export Department ( Ministry of Industry and Trade ), it is estimated that in June 2023, Vietnam's pepper exports reached 25 thousand tons, worth 92 million USD, down 13.6% in volume, but up 2.0% in value compared to May 2023, compared to June 2022, up 3.4% in volume, but down 8.2% in value.

In the first 6 months of 2023, Vietnam's pepper exports are estimated at 156 thousand tons, worth 498 million USD, up 26.6% in volume, but down 11.0% in value over the same period last year.

In June 2023, the average export price of Vietnam's pepper is estimated at 3,667 USD/ton, up 18.1% compared to May 2023, but down 11.3% compared to June 2022.

Also in the first 6 months of this year, the average export price of Vietnam's pepper is estimated at 3,184 USD/ton, down 29.7% over the same period in 2022.

In terms of type structure, compared to the same period last year, exports of black pepper and ground white pepper in May 2023 increased in volume, while exports of ground black pepper and white pepper decreased; in terms of value, exports of most pepper varieties decreased, except for ground white pepper.

In the first 5 months of 2023, black pepper exports increased in both volume and value, while exports of other pepper varieties decreased.

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