Pepper prices increased sharply, export turnover increased by 30.5% in the first half of the year
In
the first 6 months of 2024, exports to the US increased by 44.6% to
37,435 tons, accounting for 26.3% of the market share. Next are the
markets of Germany, India, China,...
According
to statistics from the Vietnam Pepper and Spice Association (VPSA), in
the first 6 months of 2024, by the end of June 2024, Vietnam has exported 142,586 tons of pepper of all kinds, down 6.8%. in volume but increased by 30.5% in turnover.
Of
which, the amount of black pepper exported reached 125,959 tons, white
pepper reached 16,627 tons. Total export turnover reached 634.2 million
USD, black pepper reached 539.9 million USD, white pepper reached 94.3
million USD.
In
the first 6 months of 2024, the US is Vietnam's largest pepper export
market with a volume of 37,435 tons, an increase of 44.6% over the same
period last year, accounting for 26.3% of the market share. Next are
markets such as Germany with 9,526 tons, an increase of 106.7%; UAE:
8,388 tons, up 15.2%; India: 8,173 tons, up 45.7%, China: 7,453 tons,
down 85.2% and Netherlands: 6,019 tons, up 52.1%.
Top
white pepper export markets: Germany: 2,454 tons, US: 2,044 tons,
Netherlands: 1,779 tons, Thailand: 1,732 tons and China: 1,567 tons...
Along with that, Vietnam imported
18,002 tons of pepper of all kinds, of which black pepper reached
16,357 tons, white pepper reached 1,645 tons, total import turnover
reached 69.6 million USD, an increase of 18.9% over the same period.
period last year. The three main pepper supply countries to Vietnam
include: Brazil reaching 7,241 tons, down 22.3%; Cambodia reached 6,212
tons, an increase of 34.5%; Indonesia reached 2,991 tons, an increase of
67.3%.
The continuous increase in pepper prices
is the reason why although export value has increased, quantity has
decreased. Currently, the average export price of Vietnamese pepper has
increased by 1,000 USD/ton compared to the same period in 2023.
Specifically Specifically, the price of black pepper reached more than
4,300 USD/ton, white pepper reached nearly 6,000 USD/ton.
The
main reason for the sharp increase in pepper prices is that global
pepper output has decreased significantly due to the El Nino phenomenon
and the decline in planted area, and the amount of inventory from last
year transferred to this year in Vietnam (the largest pepper exporting
country). world today) is almost negligible while demand in major
markets such as Europe, America and China has increased sharply.
“This
is pushing pepper into a new price increase cycle. This cycle will last
for the next 10 years and the price can reach 350,000 - 400,000
VND/kg," Mr. Hoang Phuoc Binh, Standing Vice Chairman of Chu Se Pepper
Association (Gia Lai) shared with VnEconomy.
According
to VPSA's assessment, Vietnam's pepper output in 2024 is estimated to
decrease by 10% compared to 2023, to only about 170,000 tons. This is
the lowest level in the past 5 years.
In
Brazil, one of the major pepper exporting countries, the 2024 pepper
crop here will be severely affected by prolonged drought. Brazil's
pepper output is expected to be the lowest in many years, down 20-40%
compared to the previous year. If experts' predictions about Brazil are
correct, the pepper market can only become vibrant again from September
onwards.
Sharing
with VTV Online, a representative of the Import-Export Department
(Ministry of Industry and Trade) predicted that the increase in domestic
pepper prices will push up export pepper prices and the pepper industry
can be expected to earn billions of USD in exports this year. now.
Not
only that, in the world market it is also forecast that pepper prices
will continue to increase but the growth rate will slow down. In the
domestic market, black pepper prices have increased sharply due to
limited supply, but people should not massively expand planting areas
but focus on investing and taking care of intensive farming so that
pepper plants can develop sustainably. and stable.
As
for domestic businesses, VPSA recommends that export businesses be
careful in purchasing and exporting activities to avoid risks similar to
the recent coffee or rice prices.
According to VietnamBiz.vn
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