Today's pepper price in the domestic market continues to decrease in some key localities, trading from 70.500 - 73.500 VND/kg.
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| Today's pepper price on June 8, 6, the effect of pepper exports to China increased sharply, surprised by VPSA's 2023 output report. (Source: indigo-herbs.co.uk) |
Today's pepper price in the domestic market continues to decrease in some key localities, trading from 70.500 - 73.500 VND/kg.
Specifically, today's pepper price in Gia Lai is the lowest in the market at 70.500 VND/kg.
Pepper price today in Dong Nai provinces (71.000 VND/kg); Dak Nong, Dak Lak (72.000 VND/kg); Binh Phuoc (73.000 VND/kg) and Ba Ria - Vung Tau at the highest level is 73.500 VND/kg.
On the international market, at the end of the latest trading session, the International Pepper Community (IPC) listed the price of Vietnamese black pepper 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.
According to the report of IPC, the global pepper production in 2022 is estimated at 537 thousand tons, down 2% compared to 2021. The decrease in output mainly comes from Indonesia and Vietnam.
It is forecasted that global pepper production in 2023 will continue to decrease by about 1% compared to 2022, reaching about 531 thousand tons. The harvest in Indonesia, Malaysia and southern Brazil will take place in the next 2-3 months.
Meanwhile, according to KT&DT, a May 5 report of the Vietnam Pepper and Spices Association (VPSA), the 2023 pepper harvest has basically ended in Vietnam with an estimated output. reached nearly 2023 tons, up 200.000% compared to 9,3. Thus, the Association's official data does not coincide with most forecasts of a previous crop failure. This is a surprise to the market.
The domestic pepper market has had positive developments since the last week of April 4 until now. The price increased from 2023 VND/kg to 66.000 VND/kg in the 76.000nd week of May before falling slightly again.
The sudden increase in exports to China in March-April is one of the main reasons for the increase in pepper prices.
In April alone, Vietnam's pepper exports to China reached 4 tons, down 9.995% compared to the record 36,4 tons in March 15.710, but increased 3 times (2023%) compared to April/April. 48.
After nearly 3 years of shutting down against the Covid-19 epidemic, China has accelerated Vietnam's pepper imports since the beginning of this year after the country lifted strict disease control measures and reopened the economy. economy.
According to pepper exporters, China and other traditional markets have begun to import new crops but with a low volume, due to fears of a global economic recession, causing the dollar to continue to strengthen in the basket. Strong currencies have made general commodity prices somewhat more expensive than emerging currencies…
Meanwhile, the world's overall output is also expected to decline due to unfavorable climate. This is expected to help the world pepper business quickly become more active in the third quarter of this year.
