 |
| Pepper price today January 8, 2024, businesses buy sparingly, nearly 91% of pepper market share imported into Korea comes from Vietnam. (Source: Food and Wine) |
Pepper prices today, January 8, 2024, in the domestic market continued to move sideways in some key localities, trading from 81,000 - 83,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 81,000 VND/kg.
Pepper prices today in Dong Nai province (81,500 VND/kg); Dak Nong, Dak Lak (82,000 VND/kg); Ba Ria - Vung Tau (83,500 VND/kg) and Binh Phuoc (83,000 VND/kg).
Thus, today's pepper price continues to move sideways compared to the same time yesterday. In the first week of 2024, the domestic market increased by 1,000 - 1,500 VND/kg. This is a positive signal for farmers as the harvest is approaching.
According to a representative of the Vietnam Pepper and Spice Association (VPSA), one of the reasons for the recent price increase is that the supply of the old crop was not much, while the new crop this year was harvested later.
Normally, some places start harvesting early in December, but this year, the harvest will start in January and is expected to end in April. The increase in pepper prices may slow down because businesses are buying in moderation for processing. However, VPSA representatives said that this will depend on pepper output after Tet.
Experts say that only after the Lunar New Year can we assess the output through the harvest situation of farmers. At that time, if the output is high, the pepper price will not increase further. But many times after Tet, farmers harvest sporadically, combined with a worse harvest than expected, the price will increase again. At this time, the scenario like in 2021 is likely to repeat itself.
In the world market, the Import-Export Department ( Ministry of Industry and Trade ) cited statistics from the International Trade Center (ITC) saying that by the end of October, South Korea imported approximately 4,538 tons of pepper, worth 21.5 million USD, down 27.1% in volume and 32.3% in value compared to the same period last year.
South Korea imports pepper from 20 countries and territories around the world. Of which, imports from Vietnam account for nearly 91% of the market share with 4,105 tons, worth 18.2 million USD, down 26.4% in volume and 33.5% in value compared to the same period last year.
In contrast, South Korea increased pepper imports from the Malaysian market in the 10 months, with an increase of 5.7% in volume, but a decrease of 8.8% in value, reaching 340 tons, down to 1.91 million USD. In addition, South Korea imported a small amount of pepper from the markets of Cambodia, India, and the US.
Source
Comment (0)