Pepper price today October 10, 2023, good signal from export, Vietnam is the largest pepper buyer of this country

Pepper prices today in the domestic market continue to move sideways in some key localities, trading from 68,500 - 71,500 VND/kg.

Pepper price today October 10, 2023, good signal from export, Vietnam is the largest pepper buyer of this country. (Source: Getty)

Pepper prices today in the domestic market continue to move sideways in some key localities, trading from 68,500 - 71,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 68,500 VND/kg.

Pepper prices today in Dong Nai province (68,500 VND/kg); Dak Nong, Dak Lak (70,000 VND/kg); Binh Phuoc (70,500 VND/kg) and Ba Ria - Vung Tau are at the highest level of 71,500 VND/kg.

According to the General Statistics Office, in September 2023, Vietnam exported 19,000 tons of pepper, down 5.6% compared to August, but up 37.6% over the same period last year. The turnover reached 70 million USD, down 7.6% compared to August, up 22.7% over the same period last year.

If the statistics match the data of the Vietnam Pepper and Spices Association (VPSA), the export situation at the end of September 2023 shows a good signal when in the first 18 days, VPSA said it exported only 8,615 tons, increasing to 19 thousand tons by the end of the month.

In the first 9 months of 2023, Vietnam's pepper exports reached 207 thousand tons, up 18.7% over the same period in 2022; turnover reached 685 million USD, down 11.1%. With only the fourth quarter of 2023 left, the billion-dollar export target of the pepper industry is very difficult to achieve, in the context of a volatile market and tight supply as it is now.

In the world market, in the first 8 months of this year, the largest market importing Brazilian pepper was still Vietnam with 9,491 tons, down 11.6%.

Next is Senegal with 4,820 tons, double the same period; United Arab Emirates (UAE) with 4,789 tons, down 37.8%; Morocco with 4,402 tons, up 4.4%; India at 3,750 tons, down 4.1%...

In addition, Brazil boosted pepper exports to a number of markets such as Pakistan (up 75%), Mexico (up 95%), the Netherlands (up 141.8%)... On the contrary, a decrease was recorded in the US (down 94.8%), Germany (down 46%),...

Thus, this is the second consecutive year that Vietnam has become the largest importer of black pepper from Brazil, surpassing traditional markets such as the US and Germany.

Big changes have occurred after the Covid-19 pandemic and over the past 10 years, pepper production in Brazil has grown strongly in the southern states of Bahia and Espirito Santo.

Brazil's exports fluctuated between 30,000 and 40,000 tons per year during the period 2000 - 2015, and peaked at 91,000 tons in 2021 before falling to 86,360 tons in 2022.

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