Vietnam Pepper market update 20th March 2023 – Week 11

  

Last week, the global financial market received bad news such as the bankruptcy of 3 major banks in the world & bad news from Credit Suisse. However, the pepper market was almost unaffected by this information and continued to increase in price last week with an increase of 2.2%.

Demand continues to increase from the Chinese market and improvement from major markets from the US and EU have made the market more active.
Much information shows that it is likely that in March, Vietnam will export at least 30,000 tons, bringing the total export volume to at least 70,000 tons within the first 3 months. (The above export data does not include statistical data through unofficial trade, corresponding to 10 - 15,000 tons. If so, the export volume will be increased to approximately 85,000 tons). This is an impressive number when the 2023 crop is forecasted to only reach approximately 180,000-200,000 tons.