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Vietnam Pepper Sentiment

Published on: May 10 2022, 03:18
Vietnam Pepper price as on 10th May was stable in the range of 76,500 - 79,000 VND/kg after dropping sporadically yesterday. Currently, the lowest price is 76,500 VND/kg, both recorded in Gia Lai and Dong Nai provinces. More than 1,000 VND/kg are the two provinces of Dak Lak and Dak Nong, with pepper trading at 77,500 VND/kg. Similarly,  pepper prices today  in two provinces of Binh Phuoc and Ba Ria - Vung Tau were also stable at 78,000 VND/kg and 79,000 VND/kg, respectively.
 
In the first quarter of 2022, the export value of pepper to most key markets increased. In which, the export speed to the Philippines reached the highest (up 868.9%), according to the latest report from  the Import-Export Department (Ministry of Industry and Trade).Thailand (up 251%); Germany (up 178.9%); South Korea (up 166.5 percent); Netherlands (up 110.1%); India (up 104.7%); United States (up 66.7%); UK (up 54.2%); United Arab Emirates (up 43.8%).
 
The proportion of Vietnam's pepper exports to the US market increased from 24.72% in the first quarter of 2021 to 29.58% in the first quarter of 2022; India increased from 4.81% to 7.07%; United Arab Emirates increased from 6.30% to 6.51%. The share of white pepper exports increased from 9.83% in the first quarter of 2021 to 16.42% in the first quarter of 2022. 
 
It is forecasted that Vietnam's pepper exports will be difficult in the remaining months of the second quarter of 2022. Vietnam Pepper Association shows that the supply of pepper is quite abundant, and the import demand is low. Currently, many countries and territories have reopened, but the travel needs of people are still quite limited. The main source of goods used by customers is goods signed 3 to 4 months ago. Pepper prices are unlikely to increase sharply if the Chinese market has not bought back.