Pepper price today June 22, 2023, export slows down, Brazilian pepper accounts for nearly 70% of Vietnam's import market share

Pepper prices today in the domestic market are stable in some key localities, trading from 70,500 - 73,000 VND/kg.

Pepper price today June 22, 2023, export slows down, Brazilian pepper accounts for nearly 70% of Vietnam's import market share. (Source: ElmarSpices)

Pepper prices today in the domestic market are stable in some key localities, trading from 70,500 - 73,000 VND/kg.

Specifically, today's pepper price in Gia Lai is the lowest in the market at 70,500 VND/kg.

Pepper prices today in Dong Nai province (71,000 VND/kg); Dak Nong, Dak Lak (71,500 VND/kg); Binh Phuoc (72,500 VND/kg) and Ba Ria - Vung Tau are at the highest level of 73,000 VND/kg.

According to preliminary statistics from the Vietnam Pepper and Spice Association (VPSA), from June 1 to 18, 2023, Vietnam exported 11,305 tons of pepper with a total turnover of 41.1 million USD. Of which, the export volume of black pepper reached 9,778 tons and white pepper reached 1,527 tons.

Total pepper export turnover reached 41.1 million USD. Nedspice, Olam and Tran Chau were the main exporters, with export volumes reaching 1,045 tons, 738 tons and 675 tons respectively. China continued to be our country's main pepper export market, reaching 2,657 tons.

Regarding imports, Vietnam recorded 1,526 tons of pepper in the first 18 days of June, of which black pepper reached 1,506 tons and white pepper reached 20 tons. The total import turnover reached 4.9 million USD. Brazil is the main country supplying pepper to Vietnam with 1,051 tons, accounting for 68.9% of the market share.

Olam, Tran Chau and Ha Hien are the main importers with import volumes of 727 tons, 324 tons and 269 tons respectively.

Accumulated from the beginning of the year to June 18, the total amount of pepper imported by Vietnam reached 14,025 tons.

Thus, pepper exports slowed down in the last month of the second quarter of 2023. Notably, the decrease in export proportion fell on enterprises outside the Association.

Enterprises in the Association said that export volume remained stable. Although China saw a sharp decline in pepper absorption in the first half of June 2023, it is still the largest export market for Vietnamese pepper.

Last month (May 2023), pepper exports reached 28,936 tons of all kinds. The average pepper export price in May 2023 reached 3,106 USD/ton, down 1.62% compared to the average export price in April 2023.

In the world , it is noted that in the Indian market, stagnant sales are likely to affect the country's domestic pepper prices, which have fallen again.

In addition, there is an increasing direct transaction between retailers and pepper farmers, resulting in less supply reaching the middlemen. This is especially the case in the Kerala region.

Meanwhile, crops in Kerala and Karnataka are also lower than expected due to adverse weather conditions, coupled with imports from Vietnam, which are putting pressure on the market.

Indian traders do not expect much improvement in the near future. Currently, black pepper 500 g/l is trading around $6,390/mt (FOB), down $30/mt from late April.

In the first quarter of this year, pepper imports of this South Asian country also decreased sharply by 46.4% compared to the same period last year, reaching only 6,526 tons. The main markets include Sri Lanka (1,966 tons), the United Arab Emirates (1,535 tons) and Vietnam (1,358 tons), down 56.6%, 8.3% and 44% respectively compared to the same period.

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