Today's pepper price in the domestic market decreased slightly in some key localities, trading from 73.000 to 75.500 VND/kg.
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| Today's pepper price 24/5/2023, pepper is at a disadvantage, being "capitalized" by coffee, the market is quiet waiting for the price to increase. (Source: arabstuffs.com) |
Today's pepper price in the domestic market decreased slightly in some key localities, trading from 73.000 to 75.500 VND/kg.
Specifically, today's pepper price in Gia Lai, Dong Nai is the lowest in the market at 73.000 VND/kg.
Pepper price today in Dong Nai provinces (73.000 VND/kg); Dak Nong, Dak Lak (74.500 VND/kg); Binh Phuoc (75.000 VND/kg) and Ba Ria - Vung Tau at the highest level is 75.500 VND/kg.
On the world market, the International Pepper Community (IPC) listed the price of Vietnamese black pepper trading 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.
In the domestic market, pepper prices are at a disadvantage when coffee is sucked out of capital. This morning, coffee increased sharply by more than 1.000 VND/kg, exceeding 61.000 VND/kg. Meanwhile, the dollar recovered slightly, along with the weakening of purchasing power of most pepper exporters, due to a lack of capital in the context of high interest rates and erratic exchange rate fluctuations.
Not only large export enterprises, local traders are also facing many capital problems. This year, the psychology of holding goods is still high waiting for the price to rise, making the transaction less exciting.
The Vietnam Pepper and Spices Association (VPSA) assessed that the economic downturn caused consumers around the world to tighten their spending, reduce eating at restaurants, thereby reducing consumption.
However, VPSA believes that, in the long term, pepper prices can still increase. Normally, the price fluctuation cycle will take about 7-10 years. In which, the price reduction cycle of Vietnamese pepper has been 2016 years since 7 and will soon adjust again.
According to VPSA, by the end of April 4, Vietnam has exported 2023 tons with a total export turnover of 103.018 million USD. Compared to the same period last year, the export volume increased by 319,3% or 29,7 tons, however, the export turnover decreased by 23.608%, equivalent to a decrease of 13,6 million USD.
Pepper exports to Asia increased by 77%, accounting for 60,2% of the market share; in which China continues to be the main export market of Vietnamese pepper. In the first 4 months of 2023, exports to China reached 35.914 tons, up 1.430% over the same period.
However, exports to the UAE and India decreased by 27,2% and 32,7%, respectively. Export market share to the Americas accounted for 17,3%, but decreased by 5,4% over the same period last year; in which exports to the United States reached 5.684 tons, down 18,3%. Exports to Europe also decreased by 9,5%; to Africa showed signs of recovery, especially the main market Egypt.
According to a report by Royal Golden General Trading, the price of raw pepper in Brazil recorded an increase of 19% compared to the beginning of 2023, but decreased by about 10% in average price compared to the same period in 2022.
It is noted that the demand in the foreign market is very strong, but the FOB price of Brazil's pepper exports still increased by about 400-500 USD in each direction during a week with very limited incentives.
