Monday, June 24,2024 - 19:53 GMT+7  Việt Nam EngLish 

DAILY: Vietnamese pepper prices rose by VND3000-6000 on May 29, 2024 

 Wednesday, May 29,2024

AsemconnectVietnam - On Wednesday, domestic pepper prices in Vietnam's Central Highlands rose by VND3000-6000 to VND123,000 - VND126,000 per kg compared to Yesterday due to low supply, according to Kinhtedothi.

Export businesses said that the shortage of empty containers has also caused ocean freight rates to increase by an average of about 30% in recent weeks, causing pepper prices to increase. Authorities have recommended that export businesses be careful in purchasing and exporting activities to avoid similar risks as in the past.
According to assessments, other pepper producing countries such as Indonesia are expected to harvest late this year in August - September and have significant crop losses; in Brazil is also delayed and is expected to start around the above time with an estimated output decrease of 10 - 20%.
Therefore, it seems that world pepper demand will focus on the cheapest and abundant supply, Vietnam, in June, July and August. This is also a big challenge when Vietnam's pepper output decreased in recent times.
The upward trend in pepper prices seems to be continuing as inventories of farmers and agents have decreased significantly. Everyone expects pepper prices to increase sharply in the near future, similar to coffee and cocoa prices in the past 2 years.
Vietnam exported 83,067 tonnes of pepper worth 352 million USD in the first four months of this year, down 19.4% in volume but up 10.3% in value, the Vietnam Pepper and Spice Association (VPSA) has reported.
The average export price of black pepper was 4,065 USD per tonne and white pepper 5,678 USD per tonne, up 19.4% and 14.5%, respectively, compared to the same period in 2023.
Asia currently accounts for 36.2% of Vietnam's total pepper exports, but in the reviewed period, export volume to the regional market decreased by 52% from the same period in 2023, with the biggest decrease from the China, down 95.2%, followed by UAE with 23%.
Following are domestic pepper prices on May 29, 2024, in the main pepper growing and consumption regions:

Province/District

Purchase price (VND/kg)

Vs, May 28

DAC LAC

 

 

— Ea H'leo

126,000

   +6000

GIA LAI

 

 

— Chu Se

123,000

+4000

DAK NONG

 

 

— Gia Nghia

125,000

      + 5.500

BA RIA - VUNG TAU

   

Average price

123,000

+3000

BINH PHUOC

 

 

Average price

125,000

     +6000

DoNG NAI

 

 

Average price

123,000

+4000

T.Huong
Source: Vitic

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