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Pepper prices and market in April 2022

Vietnam’s pepper harvest has basically ended with output decreasing by about 10% compared to 2021. However, pepper prices from the beginning of the year until now have tended to decrease due to coincide with Vietnam’s peak harvest season and some other producing countries, so the supply is quite abundant, while exports to China face difficulties due to the border closure.

Pepper price plummeted

Pepper prices until mid-May 2022

After falling from 1,000 to 1,500 VND/kg in April, the domestic pepper price continued to decrease by 3,000 VND/kg in the first half of May, to the lowest level of 73,000 VND/kg in Gia Lai province; the highest level of 76,000 VND/kg in Ba Ria – Vung Tau province.

Price movements of black pepper

In Dak Lak and Dak Nong provinces, pepper prices were recorded at VND 74,000/kg; in Dong Nai province at 73,500 VND/kg.

Thus, as of mid-May, the domestic pepper price has decreased by about 7-8%, from over 80,000 VND/kg at the beginning of this year and recorded the lowest level since August last year.

At this price compared to the same period in 2021, there is an increase of 10%, however, the fertilizer price has nearly doubled compared to the previous year, along with the cost of labor, gasoline … has eroded all profits of the company. pepper farmers. Businesses are equally affected when logistics prices continue to stand at high levels for many months.

Exporting Vietnamese pepper to China still have many barriers

Exporting Vietnamese pepper in the first 4 months

According to the General Department of Customs, in the first 4 months of the year, Vietnam exported 77,800 tons of pepper of all kinds, earning 362.7 million USD. Compared to the same period last year, export volume decreased by 16.6% (equivalent to 15,463 tons), but export turnover increased by 28%, equivalent to 79.3 million USD.

Vietnam’s pepper exports decreased in the first months of this year mainly due to the stagnation in exports to the Chinese market. China’s tightening of border gates in the North because of the COVID-19 epidemic has caused pepper exports to this key market to face many difficulties and decline.

According to data from the Vietnam Pepper Association (VPA), the amount of pepper exported to China in April was only 209 tons, the lowest level in the past 4 years. This makes the total export volume to the market in the first 4 months of the year only about 2,347 tons, down 8 times (equivalent to 87.6%) compared to the same period last year.

In 2021, China will be the second largest customer of Vietnam’s pepper industry, after the US with the proportion of about 15%. However, entering 2022, the position of this market dropped to 7th and the proportion was only about 3%.

Exporting Vietnamese pepper to key markets in the world

On the other hand, pepper exports to other key markets achieved a positive growth.

Exporting Vietnamese pepper to key markets in the world

Data from the General Department of Customs shows that the US continues to lead in the export market of Vietnam’s pepper in the first 4 months of this year with a market share of 26% in volume, reaching 20,135 tons, worth nearly 100 million USD , up 4% in volume and 55.6% in value over the same period.

In addition, the amount of pepper exported to the EU markets increased sharply such as: Germany increased by 31.7%, the Netherlands increased by 41.2%, Spain increased by 44.5%.

Besides, pepper exports to many Asian countries such as India, Korea, Philippines, Thailand, and Japan also increased sharply in the first 4 months of this year.

Read more: PEPPER PRICES INCREASED BY 41% IN THE FIRST HALF OF 2022

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