DAILY: Vietnamese pepper prices remained unchanged on June 1
Thursday, June 1,2023
AsemconnectVietnam - On Thursday, domestic pepper prices in Vietnam's Central Highlands remained unchanged at VND72,500 – 75,500 per kg compared to Yesterday due to tight supply, according to Kinhtedothi.vn.
In Ba Ria-Vung Tau province, the maximum price for pepper stayed at VND75,500 per kg, while in Gia Lai province, the lowest price to VND72,500 per kg. Farmers in Binh Phuoc sold pepper for VND75,000 per kilogram, in Dong Nai province for VND73,000 per kilogram, and in Dak Lak and Dak Nong provinces for VND74,000 per kilogram.
The pepper market continued to have an impressive month of growth, amid concerns about reduced supply in leading producing countries. Besides, the volume of purchases from China continued to be a supporting factor for the market.
In May 2023, companies have continuously made purchases. This pushed the domestic market to conquer the milestones of 70,000 and 75,000 VND/kg. At the end of the month, the buying force decreased along with the strong USD, causing the market to decrease slightly, but rose again soon after.
Difficult economic conditions, high inflation, prolonged geopolitical tensions and instability in the financial market are believed to be the reasons for the decrease in demand for pepper. However, on the contrary, China's increased consumption demand is a factor that helps support the market.
Following are domestic pepper prices on June 1, 2022, in the main pepper growing and consumption regions:
|
Province/District |
Purchase price (VND/kg) |
Vs.May 31 |
|
DAC LAC |
|
|
|
— Ea H'leo |
74,000 |
- |
|
GIA LAI |
|
|
|
— Chu Se |
72,500 |
- |
|
DAK NONG |
|
|
|
— Gia Nghia |
74,000 |
- |
|
BA RIA - VUNG TAU |
||
|
Average price |
75,500 |
- |
|
BINH PHUOC |
|
|
|
Average price |
75,000 |
- |
|
DoNG NAI |
|
|
|
Average price |
73,000 |
- |
Source: Vitic/Kinhtedothi
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