Pepper prices today, September 26, in the domestic market have not fluctuated. Currently, domestic pepper prices fluctuate around 64,000 – 67,000 VND/kg. China – the main market for Vietnamese pepper continues the “Zero COVID” policy, which has slowed down purchasing power, and caused domestic pepper prices to drop sharply compared to the beginning of the year. Pepper prices increased from around 80,000 VND/kg at the beginning of the year to 86,500 VND/kg in mid-March. However, prices have continuously decreased in the following months and currently domestic pepper prices have lost the 70,000 VND/kg mark in September. Weak demand is still a factor holding back the recovery of pepper prices in the following months. Especially the two largest pepper consuming markets in the world are Europe and the United States. Brazil is currently entering the pepper harvest season, with output expected to increase by 10% compared to 2021 to 98,000 tons in 2022. India’s pepper output is expected to increase slightly to 68,000 tons. However, Vietnam’s pepper output is expected to decrease due to unfavorable weather factors, while it is expected to stabilize in other pepper-producing countries. According to members of the Vietnam Pepper Growers Forum, the situation of coffee and pepper is showing a completely opposite picture compared to the beginning of the year. At the beginning of this year, fearing that pepper prices would increase and coffee prices would decrease, speculators rushed to stockpile pepper. Up to now, pepper prices have been falling more and more, while coffee prices have at times reached over 50,000 VND/kg, and cash flows back to coffee. Therefore, up to this point, the amount of pepper in reserve has increased quite a lot, up to 100,000 tons. In the current context, especially when the harvest is coming, the above figure will be a major obstacle on the way for pepper to regain its price increases from now until the end of the year. In the context of the difficult Chinese market, Vietnam is strongly focusing on pepper exports to the European Union (EU) market. The EU is one of the world’s leading pepper import markets. Currently, the supply of pepper to the EU mainly comes from the extra-bloc market. The strong dependence on pepper supply from developing countries also means that almost all intra-EU trade (including re-exports) initially comes from developing countries. Therefore, the EU is a market that any pepper producing country wants to penetrate deeply and widely. It is expected that EU pepper imports will increase at an annual growth rate of 1-2%. EU markets have a price advantage over Asian markets for exporters of high-quality black pepper and sustainable production. #pepper #pepper #news #agriculture #nhanong #mientay #taynguyen #pepper #pepper price today #pepper price #pepper today #udaklak pepper price #ubinhphuoc pepper price #dongnai pepper price #freshest pepper price today #freshest pepper price #vungtau pepper price #gialai pepper price #udaknong pepper price
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Pepper price today September 26, 2022 | Latest pepper price market
