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| Pepper price today August 19, 2023, export price tends to increase, Vietnamese pepper maintains an advantage over competitors in the EU market. |
Pepper prices today in the domestic market continued to decrease in some key localities, trading from 69,000 - 71,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 69,000 VND/kg.
Pepper prices today in Dong Nai province (69,000 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.
Thus, the domestic pepper market has broken through the 70,000 VND/kg mark in the context of the rising USD reducing global purchasing power.
In the world market, black pepper export prices of key producing countries tended to increase in the first half of this year.
By the end of June 2023, the price of 500 g/l and 550 g/l black pepper in Vietnam increased by 12.5 - 12.9% compared to the beginning of the year; Indonesia increased by 3.8%; especially Brazil increased by 34%.
In the first half of July, black pepper prices remained stable in most countries, with Vietnam at around 3,500 - 3,600 USD/ton; Indonesia at 3,740 USD/ton.
Brazilian black pepper prices alone fell 9% to $3,050 per ton.
In the white pepper market, Indonesia's white pepper export price increased by 2.6% in the first 6 months of the year and increased by another 5% in the first half of July, to 6,474 USD/ton.
In Vietnam, white pepper export prices increased by 8.7% in the first 6 months of the year and stabilized in the first half of July at 5,000 USD/ton.
In the first 7 months of this year, the country importing the highest amount of Brazilian pepper was still Vietnam with an import volume of 8,411 tons, followed by Senegal with 4,793 tons, Morocco with 4,267 tons, the United Arab Emirates (UAE) with 4,171 tons, India with 3,344 tons and Pakistan with 3,024 tons.
Due to the impact of the Covid-19 pandemic in 2020-2021, in 2022, Vietnam's pepper export turnover to the European Union (EU) decreased, but the market share reached 17.1%, only slightly down compared to 18.2% in 2021.
It can be said that compared to Brazil, Vietnam still maintains an immediate advantage, but in the long term, it needs to continue to improve quality and exploit different market segments because the EU continuously updates and strengthens the application of sanitary and quarantine measures, green growth criteria and sustainable development for imported agricultural products.
Therefore, in addition to competitive advantages in price, Vietnamese enterprises need to aim to compete by satisfying strict requirements and criteria from the EU to maintain their position and at the same time participate more deeply in other markets.
According to the Vietnam Pepper and Spice Association (VPSA), despite benefiting from the free trade agreement, Vietnam's pepper market share in the EU is decreasing. In the first six months of this year, pepper exports to the EU reached only 4,316 tons, while the total amount of pepper exported to other markets was 153,000 tons.
One of the important problems with Vietnamese pepper products is that the product quality is not high and pesticide residues are still common, even banned substances are still used, according to VPSA.
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