VIETNAM SPICES MARKET UPDATE 22nd MARCH 2021 – WEEK 12

 

PEPPER

According Customs's data, in the first 15 days of March, Vietnam exported 13,928 tons of pepper, with a turnover of 40.1 million USD.
Accumulated from 1/1 to 15/3/2021, Vietnam exported 44,135 tons, total turnover reached 127.4 million USD.
It is forecasted that by the end of March, Vietnam will export 59,250 tons of pepper.
Thus, the export volume of pepper from Vietnam is expected to decrease to 21,844 tons,
equivalent to a decrease of 37% compared to the same period in 2020 (in 3 months of 2020, Vietnam exported 81,094 thousand tons).

Meanwhile, in the first 2 months of 2021, Vietnam imported 5,313 tons, increasing by 13.8% over the same period last year.

The pepper market last week has fluctuated with a very large and unpredictable amplitude.
Achieve a 15% increase in just 3 days and then adjust to decrease again.
However, at the end of the week, pepper prices still increased by 4.2% compared to March 15th and an increase of 40% compared to February 17, 2021.

The agricultural market is forecast to be fierce and sensitive throughout 2021.
Therefore all parties such as farmers, agents, exporters and buyers should be cautious when deciding to enter the market.

Please refer to the following chart