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| Pepper price today February 5, 2024, the market is quiet before Lunar New Year, when will buying power return? (Source: Times of India) |
Pepper price today, February 5, 2024, in the domestic market increased slightly in some key localities, trading from 80,500 - 83,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 81,000 VND/kg.
Pepper prices today in Dong Nai province (80,500 VND/kg); Dak Nong, Dak Lak (83,000 VND/kg); Ba Ria - Vung Tau (83,000 VND/kg) and Binh Phuoc (83,500 VND/kg).
Thus, pepper prices today increased slightly in some key growing areas, the highest price of 83,500 VND/kg was recorded in Binh Phuoc.
Last week, domestic pepper prices increased by 500 - 1,000 VND/kg. The market entered the long Lunar New Year holiday. Buying power is expected to return after the 15th of the first lunar month.
According to the Ministry of Agriculture and Rural Development, Vietnam's pepper growing area in 2023 will reach 115 thousand hectares, a decrease of 5 thousand hectares compared to 2022. The output in 2023, according to the assessment of the Vietnam Pepper and Spice Association (VPSA), will reach 190 thousand tons, an increase of 3.8% compared to 2022.
The 2024 pepper harvest has begun in some districts of Dak Nong province, however, the harvest is mainly scattered in some districts and is not much. Due to the impact of climate change, this year's harvest is later than last year, the expected output of Vietnamese pepper in 2024 is estimated at 170 thousand tons, down 10.5% compared to 2023.
In 2023, the average export price of black pepper will reach 3,585 USD/ton, white pepper will reach 5,091 USD/ton, compared to 2022, down 420 USD for black pepper and 635 USD for white pepper, respectively.
The leading exporters in 2023 include: Olam Vietnam: 20,306 tons, accounting for 7.7% and compared to last year, the export volume decreased by 30.3%. Next are the enterprises: Nedspice Vietnam: 19,187 tons, accounting for 7.3%, up 13.9%; Tran Chau: 16,538 tons, accounting for 6.3%, down 35.7%; Phuc Sinh: 15,802 tons, accounting for 6.0%, up 6.6%; Haprosimex JSC: 10,927 tons, accounting for 4.1%, down 14.0%.
Leading white pepper exporters include: Nedspice Vietnam: 3,652, Olam Vietnam: 3,350 tons, Tran Chau: 2,305 tons, Lien Thanh: 2,010 tons and Phuc Sinh: 1,882 tons.
In the world market, data from the General Administration of Customs of China shows that by the end of November 2023, the country imported 8,256 tons of pepper, an increase of 1.8% over the same period in 2022.
Of which, China imported 3,841 tons of pepper from Indonesia, down 10.9% over the same period and accounting for 45.7% of the market share. Imports from Vietnam reached 2,601 tons, up 11.9%, but this figure was only 5% of the volume of 59,073 tons as recorded by VPSA.
The reason for this difference is that Vietnam's pepper exports to China are still mainly through unofficial channels and are not included in the statistics of the Chinese Customs. In addition to Indonesia and Vietnam, China also imports a small amount of pepper from Brazil, Malaysia, India, etc.
In 2024, demand for pepper in China is expected to remain high due to consumption habits.
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