Vietnam Pepper market update 13th March 2023 – Week 10.

- Pepper price has had an impressive increase in 2023 with an increase from 61,000vnd from January 1, 2023 to 67.000vnd until March 12, 2023, corresponding to an increase of 10% in recent times.

- The rising demand from the Chinese market after 3 years is also a major reason for the sharp increase in pepper prices in the first quarter this year

Pepper Exports in February 2023

According to preliminary statistics of VPA, in February 2023 Vietnam exported 28,161 ton, of which 25959 black pepper.

China rose to become the main destination in Feb with 8,485 tons, up 392% compared to January and accounting for 30% of export mkt share. USA came second with 3,790 tons, up 14,6%

Considering Jan to February 2023 Vietnam exported 40,814 tons, an increase of 10,138 tons or 33% compared to the same period of 2022.

PREVIOUSLY
Vietnam Spices Market Update February 2023

March 9, 2023

Vietnam harvest is currently underway, with all the provinces harvesting. Harvest is meeting expectations and is better than last year. Cambodia harvests are picking up as well. Brazilian growers are expected to start harvest in March. Prices in Vietnam increased from the pre-season lows, despite lower demand from EU & US buyers. 

After the Lunar New Year holidays, Chinese buying led to stocks holding at farmer and collector levels. This has caused prices to increase. Pepper prices in Brazil have gone up as well. About 40% of the harvested pepper in Vietnam has been traded, with an expected 70% of the crop yet to be harvested. There can be some pressure on prices as more pepper is harvested. 

Vietnam Pepper exports hit 129 million USD in first two months

Vietnam exported over 41,000 tonnes of pepper worth 129 million USD in the first two months of this year, up 35% in volume, but down 7.4% in value over the same period from 2022, according to the Import-Export Department under the Ministry of Industry and Trade.

Monday, March 06, 2023 

Hanoi (VNA) – Vietnam exported over 41,000 tonnes of pepper worth 129 million USD in the first two months of this year, up 35% in volume, but down 7.4% in value over the same period from 2022, according to the Import-Export Department under the Ministry of Industry and Trade.

The average export price of the Vietnamese spice in February 2023 was 3,059 USD per tonne, a downturn of 11.1% compared to the previous month and 32.8% year-on-year.

During the reviewed period, its average export price stood at 3,177 USD per tonne, a fall of 31.4% compared to last year's corresponding period.

In terms of the domestic market, prices of both black and white pepper in February increased sharply due to growing demand from the Chinese market.

The price of black pepper rose by between 8,000 VND per kg to 8,500 VND per kg (0.34- 0.36 USD), an increase of 13.9% to 15.3%, compared to January to reach between 64,000 VND and 65,500 VND per kg.

Meanwhile, white pepper rose 98,000 VND per kg, an increase of 6,000 VND per kg compared to the end of January, but still lower than the 121,000 VND per kg seen in the same period from last year.

The ministry has said the global pepper market is forecast to recover due to increasing demand from importers./.

VNA Monday, March 06, 2023 09:33  https://link.gov.vn/XurxYbPX