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| Pepper price today August 5, 2023, the market is improving, businesses have contracts, will the future be less gloomy? (Source: MC) |
Pepper prices today in the domestic market continued to increase in some key localities, trading from 70,000 - 73,000 VND/kg.
Specifically, today's pepper price in Gia Lai is the lowest in the market at 70,000 VND/kg.
Pepper prices today in Dong Nai province (70,500 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.
Thus, the domestic market has shown signs of being active again, recording 4 consecutive days of increase. Since the beginning of August 2023, the domestic market has continuously increased. According to the reflection, many units have received contracts for the last months of the year.
Commenting on the reasons for market growth, experts said that after the somewhat gloomy export figures for June and July 2023, August will be more positive.
Globally, ongoing harvests in Brazil and Indonesia are expected to be below expectations, along with developments in India, causing tight supplies.
Domestically, since late July 2023, the Central Highlands and the South have experienced heavy rains causing flooding in many places, affecting people's crops. Many pepper gardens were flooded, causing concerns about the next crop's yield.
The floods also caused traffic disruption in the area, and landslides threatened people's lives. Given the above situation, concerns about short- and medium-term supply as well as next year's crop output being affected have caused the market to have a continuous upward trend recently.
In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Vietnamese black pepper at 3,500 USD/ton for 500 g/l, 3,600 USD/ton for 550 g/l; the price of white pepper at 5,100 USD/ton.
Preliminary statistics from the Vietnam Pepper and Spice Association (VPSA) show that in the first 6 months of 2023, Vietnam imported 15,083 tons of pepper of all kinds, of which black pepper reached 14,115 tons and white pepper reached 968 tons.
Compared to the same period in 2022, import volume decreased by 29.2% (equivalent to 6,216 tons), of which black pepper decreased by 21.8% and white pepper decreased by 70.3%.
While imports from Brazil increased by 76.0% to 9,314 tons, imports from Indonesia and Cambodia decreased by 72.4% and 54.7% to 2,649 tons and 1,788 tons, respectively.
According to records, Olam, Pearl and Nedspice are the three main importers, accounting for 39.7%; 15.4% and 10.1% of total imports, respectively. Of which, Olam's imports decreased by 26%, Pearl increased by 43.9% and Nedspice increased by 125.0%.
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