VIETNAM PEPPER MARKET UPDATE WEEK 36

Today, we received a brief report from one of our Vietnamese parties as below:

According to the preliminary data report of the General Department of Vietnam Customs, pepper exports in July 2022 reached 19,013 tons of pepper of all kinds, down 5,197 tons, ie down 21.47% over the previous month and down 7,217 tons, ie down 27.51% over the same period last year.

Export turnover in the month reached 80.12 million USD, down 19.95 million USD, or 19.94% compared to the previous month and down 14.77 million USD, or 15.57% decrease over the same period last year. last year.

The cumulative export volume of pepper in the first 7 months of 2022 reached a total of 142,557 tons of pepper of all kinds, down 37,631 tons, or 20.88% lower than the export volume of the first 7 months of 2021.

In terms of export value in the first 7 months of 2022, it totaled 639.84 million USD, an increase of 48.33 million USD, or 8.17% increase over the same period.

The average export price of pepper in July 2022 reached $4,214/ton, up 1.94% compared to the average export price of June 2022.

The European - American and Middle Eastern markets are flocking to Brazil to buy new crops due to lower logistics costs and softer prices. While the Chinese market still has an unresolved real estate crisis, the outbreak of a new Omicron variant has caused the Government to return to maintain the "Zéro - covid" policy, making pepper prices unable to prosper in the short term. . The soaring coffee prices also contributed to putting pepper prices at a disadvantage.

Coffee season is coming, dealers need money to trade coffee, so the pressure to sell pepper from now until the end of the year is quite large.

Check for more info o IPC week 36 report

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