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| Pepper price today November 13, 2023, export price decreased, 91% of pepper imported into Korea comes from Vietnam. (Source: indigo-herbs.co.uk) |
Pepper prices today, November 13, 2023, in the domestic market are stable in some key localities, trading from 66,000 - 69,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 66,000 VND/kg.
Pepper prices today in Dong Nai province (66,500 VND/kg); Dak Nong, Dak Lak (67,000 VND/kg); Binh Phuoc (68,500 VND/kg) and Ba Ria - Vung Tau at the highest level of 69,500 VND/kg.
Last week, in the domestic market, pepper prices increased mainly in the Southeast region with 3 exciting mid-week days. The strong increase came from Ba Ria - Vung Tau at 1,500 VND/kg, followed by Binh Phuoc at 1,000 VND/kg, and Dong Nai increased by 500 VND/kg.
Early last week, the Vietnam Pepper and Spice Association (VPSA) announced import-export data for the first 10 months of 2023. Accordingly, by the end of October 2023, Vietnam exported 223,578 tons of pepper. Total export turnover reached 750.8 million USD, black pepper reached 640.2 million USD, white pepper reached 110.6 million USD. Compared to the same period last year, export volume increased by 14.6%, however, export turnover decreased by 11.7%.
The average export price of black pepper in 10 months reached 3,553 USD/ton, white pepper reached 5,082 USD/ton, compared to the same period last year, the export price of black pepper decreased by 17.6% for black pepper and 15.6% for white pepper.
In the world market, the International Pepper Community (IPC) commented that after 3 weeks of decline, the pepper market this week had mixed reactions. Some markets recovered slightly.
According to records, India's pepper imports in August were unusually high at 3,800 tonnes, thereby keeping black pepper prices stable in the domestic market in the world's most populous country. Compared to the domestic price of Rs 631/kg for ungraded pepper, imported pepper was only around Rs 600-625/kg.
Citing statistics from the International Trade Commission, the Import-Export Department (Ministry of Industry and Trade) said that in the first 8 months of the year, South Korea imported 3.26 thousand tons of pepper, down 45.5% over the same period last year.
In the first 8 months of this year, Korea imported pepper mainly from Vietnam, reaching approximately 2.97 thousand tons, down 44.6% over the same period and accounting for 91% of the market share. Similarly, Korea's pepper imports from Malaysia also decreased by 22.8%, reaching only 237 tons.
In contrast, South Korea increased pepper imports from Cambodia and India, but the volume remained low.
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