• Last week, the pepper price experienced dizzying fluctuations. Prices surged and dropped significantly within hours. There were days when the market increased by up to 8%, but then decreased by 7-9% in just one day.
• It can be said that the market last week was chaotic, with many moments when there were no reference prices.
• At the end of the week, prices had unchanged and kept the same level 174.000vnd.
It is important to note that in June, Vietnam is expected to export 26-30,000 tons of pepper, bringing the total exported quantity in the first 6 months to reach between 140,424 tons and 144,424 tons. This is an impressive export figure as Vietnam’s crop is forecasted to be the lowest in production in the past 5 years.
Furthermore, Vietnam is currently the largest pepper-producing country, almost the only affordable supplier with a large quantity in the global pepper market. Other countries like Brazil and Indonesia are forecasted to have poor crops, with the upcoming crop season starting around August. Therefore, considering stockpiling to ensure production orders is a necessary consideration, despite the increasing capital costs and rising transportation fees in recent times.
Please see the REPORT FILE & FULL QUOTATION LIST by click to download.
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