中文 (中国)Pepper prices in Vietnam
Pepper prices in Vietnam today remained unchanged compared to previous days after decreasing by 500 VND/kg yesterday, fluctuating in the range of 65,500 – 68,500 VND/kg.
- Specifically, in Ba Ria Vung Tau, pepper prices are being purchased by traders at 68,500 VND/kg, the highest level in the country.
- In Dak Lak and Dak Nong provinces, pepper price today traded at 66,500 VND/kg.
- In Binh Phuoc, pepper is purchased at VND 67,000/kg.
- In Dong Nai, pepper price is 66,000 VND/kg.
- In Gia Lai, pepper price was recorded at 65,500 VND/kg, the lowest level in the country.
Update the situation on world pepper price
Earlier this week, the International Pepper Community kept the listed export prices unchanged in countries, only Indonesia recorded an increase. Small stockpiles and growing demand helped Indonesia’s pepper price increase positively despite weakness in other countries in the region. India also has a significant improvement in pepper prices.
In South Asia, Indian pepper prices were stable. While after 3 weeks of decline, domestic pepper prices in Sri Lanka also stabilized again.
In Southeast Asia, after 3 weeks of stability, Indonesian pepper prices increased last week due to tight supply and increased demand. Malaysian domestic black pepper prices increased during the week, while other grades were stable and unchanged.
In particular, according to the latest news of the Vietnam Pepper Association, the market last week showed mixed reactions.
According to Nedspice’s assessment, after a long time not participating in the market, Chinese traders have returned to buy goods from Vietnam and Indonesia. However, the buying power is still limited while the demand of other regions such as the US or the European Union (EU) has not increased.
In addition, throughout 2021 and the first half of 2022, many importers significantly increased their purchases in anticipation of supply chain disruptions and inflated prices. As a result, inventories are at a high level.
The downward trend in prices in the past months also discourages speculators from holding long, especially those using loans to speculate. As interest rates rise globally, maintaining a long speculative position becomes less attractive.
Promising signs for Vietnam’s next crop, coupled with high holding costs, are leading to a relatively quiet situation in the market and limited purchasing power.
According to preliminary statistics of the Vietnam Pepper Association, in August 2022, Vietnam imported 2,167 tons, of which 1,935 tons of black pepper, 232 tons of white pepper. Compared to the previous month, the import volume decreased by 51.3%, the turnover decreased by 49.8%.
Cambodia, Brazil and Indonesia continue to be the three main suppliers of pepper to Vietnam, reaching 24,463 tons, the total import volume from these three markets accounted for 87.6%, of which imports from Cambodia reached 12,221 tons, an increase. 168%, Brazil reached 7,393 tons, up 34.8%, Indonesia reached 4,898 tons, down 31.3%.