Pepper price today February 4, 2024, the 'crop gap' period, gardeners are excited, Vietnamese pepper accounts for more than 62% of the import market share into this continent

Pepper price today, February 4, 2024, in the domestic market continued to move sideways in key localities, trading from 80,500 - 83,500 VND/kg.

Pepper price today February 4, 2024, the 'crop gap' period, growers are excited, Vietnamese pepper accounts for more than 62% of the import market share into this continent. (Source: Pinterest)

Pepper price today, February 4, 2024, in the domestic market continued to move sideways in key localities, trading from 80,500 - 83,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 80,500 VND/kg.

Pepper prices today in Dong Nai province (80,500 VND/kg); Dak Nong, Dak Lak (83,000 VND/kg); Ba Ria - Vung Tau (82,500 VND/kg) and Binh Phuoc (83,500 VND/kg).

Thus, pepper prices today continue to be stable in most key growing areas, the highest price of 83,500 VND/kg recorded in Binh Phuoc .

According to records, the domestic market was quiet before the long Lunar New Year holiday. This year, before the season, gardeners were excited as prices were at high levels.

The current period is often considered the “crop” of the Vietnamese pepper business season. Therefore, businesses are increasing imports. Expert Nguyen Quang Binh said that imported pepper is not for domestic consumption but only temporarily imported for re-export.

According to the Vietnam Pepper and Spices Association (VPSA), 2023 is the third consecutive year that Olam Vietnam has been the largest pepper exporter in Vietnam with a volume of 20,306 tons, accounting for 7.7% of the market share. However, the amount of pepper exported by this enterprise has decreased sharply by 30.3% compared to 2022.

Ranked second is also an FDI enterprise, Nedspice Vietnam with 19,187 tons, up 13.9% compared to 2022 and accounting for 7.3% market share.

Next is Tran Chau reaching 16,538 tons, down 35.7% and accounting for 6.3%; Phuc Sinh reaching 15,802 tons, up 6.6% and accounting for 6%; Haprosimex JSC reaching 10,927 tons, down 14% and accounting for 4.1%.

Leading white pepper exporters include: Nedspice Vietnam: 3,652, Olam Vietnam: 3,350 tons, Tran Chau: 2,305 tons, Lien Thanh: 2,010 tons and Phuc Sinh: 1,882 tons.

In general, VPSA enterprises exported 179,919 tons of pepper of all kinds in 2023, down 5% compared to 2022 and accounting for 68.1% of market share.

According to data from the European Statistical Office (Eurostat), pepper imports of the European Union (EU) decreased by nearly 25% (20,591 tons) in the first 10 months of 2023, reaching only 62,689 tons. Of which, imports from outside the bloc reached 41,111 tons, down 23.3%, accounting for 67.2% of the market share; imports within the EU were 23,863 tons, down 16% over the same period in 2022 and accounting for 38.1%.

In the first 10 months of 2023, the largest non-bloc pepper supplying markets to the EU included Vietnam with 62.3% market share, Brazil 18.4%, India 5.7%...

The International Pepper Community (IPC) commented that the pepper market in the first week of February continued to have mixed reactions with India and Sri Lanka seeing decreases. During the weekend, Indonesian pepper prices were continuously adjusted upwards.

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