Pepper price today September 20, 2023, more than 46% of Vietnamese pepper exports 'landed' in the US-China market; failed to achieve the billion USD target

Pepper prices today in the domestic market are stable in some key localities, trading from 70,000 - 72,500 VND/kg.

Pepper price today September 20, 2023, more than 46% of Vietnamese pepper exports 'landed' in the US-China market; failed to achieve the billion USD target. (Source: Pixabay)

Pepper prices today in the domestic market are stable in some key localities, trading from 70,000 - 72,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 70,000 VND/kg.

Pepper prices today in Dong Nai province (70,500 VND/kg); Dak Nong, Dak Lak (71,000 VND/kg); Binh Phuoc (72,000 VND/kg) and Ba Ria - Vung Tau are at the highest level of 72,500 VND/kg.

In the newly released August 2023 report, the Vietnam Pepper and Spices Association said that by the end of August 2023, Vietnam exported 187,755 tons of pepper of all kinds, of which black pepper reached 168,643 tons and white pepper reached 19,112 tons. The total export turnover reached 616.1 million USD, black pepper reached 525.4 million USD, white pepper reached 90.7 million USD.

Compared to the same period last year, the export volume increased by 15.1% equivalent to 24,625 tons, however, the export turnover decreased by 15.0% equivalent to a decrease of 108.9 million USD. The average export price of black pepper in the first 8 months of 2023 reached 3,523 USD/ton, white pepper reached 5,058 USD/ton.

China continues to be Vietnam's largest pepper export market in the first 8 months of 2023, reaching 53,792 tons, up 454.8% and accounting for 28.7% of the market share. Next is the US with 33,589 tons, down 10.6%, accounting for 17.9% of the market share.

Exports to some markets in Europe also decreased such as Germany: 6,125 tons, down 20.0%; Netherlands: 5,522 tons, down 10.1%; Russia: 3,490 tons, down 7.2%... African exports increased by 13.2%, of which Egypt increased by 47.5% to 3,113 tons; Senegal: 1,763 tons, up 53.2%...

Vietnam’s pepper export picture this year continues to show a paradox, as output increased sharply while value decreased. With a total export turnover of 616.1 million USD in the first 8 months of the year, it is considered that the billion-dollar pepper export target this year has not been achieved.

According to Peppertrade , a recent El Nino-induced drought that mainly affected Brazil’s Para Region killed pepper plants, affecting harvest yields. The country is expected to see a reduction in dry raw material production, so prices could continue to trend upward.

Regarding exports, in August 2023, Brazil exported 5,113 tons of pepper, bringing the total exports in the first 8 months of the year to about 50,408 tons, down 2% over the same period last year.

In the first eight months of this year, Vietnam remained the largest export market for Brazilian pepper with an estimated output of 9,437 tons, followed by Senegal with 4,820 tons, the United Arab Emirates (UAE) at 4,789 tons, Morocco at 4,375 tons, India at 3,830 tons and Pakistan at 3,484 tons.

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