Pepper price today May 31, 2022 | Latest pepper price market

Pepper prices today, May 31, 2022, in the domestic market increased slightly by 500 VND/kg. Currently, domestic pepper prices are trading at 70,500 – 73,500 VND/kg. Domestic pepper prices have shown positive signs after a period of continuous sharp decline in recent days. In recent days, information about the bustling operation of Shanghai port and the reopening of border gates has brought a “new wind” to export goods in general and pepper in particular. Previously, many experts commented that whether pepper prices will increase again or not will depend largely on the purchasing demand of the Chinese market. The reduction in purchases by the Chinese market is one of the reasons for the recent decrease in domestic pepper prices. Each year, this country imports about 40,000 – 50,000 tons of pepper from Vietnam. However, China’s “Zero Covid” policy has made pepper export activities through border gates slow and difficult, and export output has decreased significantly. The amount of pepper exported to China only reached 209 tons in April 2022. This is the lowest amount of pepper imported in the past 4 years. This makes the total export volume to this market in 4 months only about 2,347 tons, down 87.6% compared to the same period last year. Looking at the above figures, when the demand for pepper consumption from this market does not decrease much, in the last months of the year, Vietnam’s pepper exports to China will have to be above 40,000 tons. This will be the driving force for pepper prices to increase sharply in the medium term. #pepper #hotpepper #news #nongnghiep #nhanong #mientay #taynguyen

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