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DAILY: Vietnamese pepper prices increased by 500 VND on December 6 

 Wednesday, December 6,2023

AsemconnectVietnam - On Wednesday, domestic pepper prices in Vietnam's Central Highlands rose by 500 VND to VND72,000 to VND75,000 per kg compared to Yesterday, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper rose to VND74,500 per kg, while in Gia Lai province, the lowest price at VND72,500 per kg. Farmers in Binh Phuoc sold pepper for VND75,000 per kilogram, in Dong Nai province for VND72,000 per kilogram, and in Dak Lak and Dak Nong provinces for VND73,500 per kilogram.
Currently, Vietnam has risen to the leading position in the world in pepper production and export, accounting for about 19,2% of the area, 33,5% of production output and nearly 48,5% of export volume. pepper worldwide.
About 94% of the area and 97% of the national pepper output are concentrated in two key production regions: the Southeast and the Central Highlands; 2% of the area, 91,7% of the national pepper output is concentrated in 93,7 key production provinces: Gia Lai, Dak Lak, Dak Nong, Binh Phuoc, Dong Nai and Ba Ria - Vung Tau. About 6% of Vietnam's pepper output is for export.
Every year, Vietnamese pepper is exported to over 100 countries and territories, mainly in European, Asian and American countries.
As noted, pepper imports from the European Union (EU) tend to decline in the context of the region's economic growth slowing down and consumers cutting spending due to inflation and rising interest rates.
According to the European Statistics Agency (Eurostat), the EU imported 54.316 tons of pepper in the first 8 months of 2023, down 21,6% over the same period last year.
About 62% of them, equivalent to 33.693 tonnes, were imported from markets outside the bloc and the remaining 20.622 tonnes (38%) were traded between intra-bloc countries.
In particular, Vietnam continues to be the largest pepper supplier to the EU with a volume of 20.993 tonnes, down 21,1% over the same period and accounting for more than 62% of the EU's total foreign pepper imports.
EU pepper imports from other major markets also decreased sharply such as: Brazil reached 5.048 tonnes, down 49%; Indonesia reached 1.736 tonnes, down 48,8%; India reached 1.698 tonnes, down 28%...
After the Vietnam - EU Free Trade Agreement (EVFTA) took effect, the import tax on ground or crushed pepper (HS code 0904) exported to the EU decreased from 4% to 0%.
This gives Vietnamese pepper many advantages over other suppliers such as Indonesia, Malaysia, India... when exporting to the EU.
Second, investors in the EU moved processing factories to Vietnam to take advantage of cheap raw materials and labor to produce and export diverse pepper products to EU markets.
Third, Vietnam's pepper industry is also highly appreciated for its processing capacity with the rate of processed goods currently accounting for about 30% of total export turnover.
Fourth, Vietnam's spice industry in general and the pepper industry in particular have stabilized and are entering the world's value chain. The quality of Vietnam's pepper is also improving and meeting market requirements.
Following are domestic pepper prices on December 6, 2023, in the main pepper growing and consumption regions:

Province/District

Purchase price (VND/kg)

Vs. December 5

DAC LAC

 

 

— Ea H'leo

73,500

+500

GIA LAI

 

 

— Chu Se

72,500

+1.000

DAK NONG

 

 

— Gia Nghia

73,500

+500

BA RIA - VUNG TAU

   

Average price

74,500

+500

BINH PHUOC

 

 

Average price

75,000

+500

DoNG NAI

 

 

Average price

72,000

+500


T.Huong
Source: Vitic/Kinhtedothi

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