Many countries increase buying "black gold" from Vietnam

(Dan Tri) - The US, Germany, UAE, and India increased pepper imports from Vietnam in the past 7 months. The average export price reached 4,656 USD/ton, up 44.7% over the same period in 2023.

The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs saying that pepper exports - a spice considered "black gold" of Vietnam in July reached 21,800 tons, worth 129.9 million USD, up 42.9% in volume and 128.3% in value over the same period in 2023. In the past 7 months, Vietnam's pepper exports reached 163,300 tons, worth 760.26 million USD, down 2.7% in volume, but up 40.7% in value over the same period in 2023. The average export price reached 4,656 USD/ton, up 44.7% over the same period in 2023. Specifically, in 7 months, exports to the United Arab Emirates (UAE) reached 10,922 tons, worth more than 55 million USD, equivalent to increased by 40.2% and 113.9% in volume and value; exports to Germany reached 11,028 tons, worth 57 million USD, up 99.6% and 152.4%... In the US market alone, in the first 6 months, Vietnam exported 34,910 tons, worth nearly 161.47 million USD, up 31.1% in volume and 37.1% in value over the same period last year. However, Vietnam's pepper market share in the total US imports still decreased from 79.1% to 76.46%.

In July, the average export price of Vietnam's pepper reached 5,958 USD/ton, a sharp increase of 59.7% compared to July 2023 (Photo: Import-Export Department).

In the first 19 days of August, the price of black pepper in the domestic market fluctuated in a downward trend. According to the Vietnam Pepper Association, purchasing power from European and American markets decreased, while the Chinese market has not yet purchased strongly again. On August 19, the price of black pepper in the domestic market decreased by 10,000-12,000 VND/kg (depending on the surveyed area) compared to the end of July, down to 138,000-140,000 VND/kg. The price of white pepper was at 185,000 VND/kg, down 14,000 VND/kg compared to the end of July, but still higher than 102,000 VND/kg in the same period last year. The Import-Export Department said that world pepper prices are forecast to remain high in the coming time. Brazil is currently the world's second largest producer and exporter of black pepper after Vietnam, accounting for 17-18% of the total global supply. Therefore, the continuous crop failure in Brazil will have an impact on the market, expected to push global pepper prices up in the last months of the year when pepper supply from other major producing countries such as Vietnam, Malaysia, Indonesia... also decreases.

Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/nhieu-nuoc-tang-mua-vang-den-cua-viet-nam-20240903180223851.htm