- In coming time, world pepper market will increase due to reduced supply (low price, low yield due to many old trees, reduced interest in farming due to other more efficient crops such as durian, weather influence, domestic consumption), increased demand from US and China (improved logistics, facilitating trade and transporation, China’s pepper import from Vietnam increased nearly 7 times from Jan-Jul/23 over same period in 2022).
- Currently there is not much supply in Vietnam. The current inventory is about 60-80k tons, next harvest is expected to be 140-150k tons, a significant decrease compared to last year. Indonesia, pepper in 2022 is down 22% compared to 2021, is expected to continue to decrease by 15% in 2023. In India, the main pepper growing areas are affected by weather, causing production to decrease 30-32% while domestic demand increases dramatically as the festival season approaches.
- Demand is likely to exceed supply, pushing prices up to unprecedented heights.
If you have any interest of pepper or other agricultural products, pls comment to send you our best price. Mr Vo - TPH
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