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DAILY: Vietnamese pepper prices rose by 2000 VND on February 20 

 Tuesday, February 20,2024

AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands increased by 2000 VND to VND85,000 to VND88,000 per kg compared to Yesterday, according to Kinhtedothi.vn.

The maximum price for pepper rose to VND88,000 per kg in Binh Phuoc, while in Dong Nai province, the lowest price increased to VND85,000 per kg. Farmers in Dac Lac and Dak Nong sold pepper for VND87,000 per kilogram, in Gia Lai province for VND85,000 per kilogram, and in Ba Ria – Vung Tau province for VND87,000 per kilogram.
The sharp increase in prices is due to significant demand from the US, EU, Asia and Africa for spot orders in the first quarter of 2024. Local farmers are excited and have high expectations for this year's crop.
According to Vietnam Pepper and Spice Association, in January 2024, Vietnam exported 17,537 tonnes of all kinds of pepper. Out of which, black pepper reached 15,434 tonnes, and white pepper reached 2,103 tonnes. Total pepper export turnover reached 70.1 million USD. Out of which, black pepper reached 59.0 million USD, white pepper reached 11.1 million USD. Comparing to December 2023, export volume decreased by 13.3 %, export turnover decreased by 9.7%.
An average export price of black pepper in January 2024 reached 3,851 USD/tonne, white pepper reached 5,310 USD/tonne, up 3.3% for black pepper and 2.3% for white pepper respectively, comparing to December 2023.
Leading exporters in January included: Nedspice Vietnam reached 2,147 tonnes; Olam Vietnam reached 1,819 tonnes; Pearl reached 1,295 tonnes and Phuc Sinh reached 1,078 tonnes.
Regarding market, the United States continued to be a key export market of Vietnamese pepper in January, reaching 4,774 tonnes, accounting for 27.2% of market share. However, comparing to December, it decreased by 23.1%.
India is the second largest export market, reaching 1,367 tonnes, accounting for 7.8% and increasing by 35.2%. Exports to China decreased by 54.8%, reaching 466 tonnes.
In January 2024, Vietnam imported 2,510 tonnes of pepper. Out of which, black pepper reached 2,379 tonnes, white pepper reached 131 tonnes. Comparing December 2023, total import turnover reached 9 million USD, increased by 22.6%.
Olam, Lien Thanh and Tran Chau are the three largest importers. The import volume mainly coming from Brazil reached 1,960 tonnes, accounting for 78.1% and an increase of 54.0% comparing to December 2023.
Following are domestic pepper prices on February 20, 2024, in the main pepper growing and consumption regions:

T.Huong
Source:
 Vitic/Kinhtedothi

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