The average export price of pepper in 5 months was only 3.011 USD per ton, the sharpest decrease in 3 years, causing heavy losses to growers.
Statistics of the Ministry of Agriculture and Rural Development show that, in the first 5 months of the year, Vietnam exported 138.000 tons of pepper, equivalent to 414 million USD, up 38,4% in volume but down 9,9% in price. compared to the same period in 2022.
In 5 months, the average export price of pepper reached USD 3.011 a ton, down 35% compared to the same period in 2022. This is the strongest decrease in nearly 3 years.
Export pepper prices plummeted because global demand fell. Pressure from the USD increased, the Fed adjusted interest rates, affecting the pepper import activities of many major markets. In which, pepper exports to the US, the United Arab Emirates, India, Germany, the Netherlands, the UK, and South Korea have continuously decreased by 20-70% in the past several months.
In the country, pepper prices increased slightly to 73.000-75.000 VND per kg, but this level is still making growers suffer.
According to Ms. Hong Lam, owner of a pepper garden, this year the weather is erratic, with off-season rains, so the yield is low. "We take good care of them, but the family's productivity of 600 pepper poles is only 50%, so it still suffers a heavy loss," said Ms. Lam.
Similarly, people in the Central Highlands gardeners said that pepper gardens all decreased in productivity compared to the previous year, a decrease of 20-50%. Meanwhile, they have to bear high investment costs due to the sharp increase in the prices of materials, fertilizers, pesticides and labor.
Forecasting in the second half of the year, the Ministry of Industry and Trade believes that prices will go up, the market becomes active when demand increases from China, Papua New Guinea, ASEAN, Turkey..., offsetting import demand. still quiet of the US and EU markets.
Thi Ha
