Pepper price today August 2, 2022 | Latest pepper price market

Pepper prices today, August 2, 2022, in the domestic market continued to remain at 70,500 – 74,000 VND/kg. The Ministry of Agriculture and Rural Development said that pepper exports reached the target of 1 billion USD this year. Domestic Pepper prices today continued to remain stable after a period of slight increase. In the world market, Indonesian pepper prices increased sharply on the first day of August 2022, along with the increase in India. According to experts, the upcoming pepper market trend is still difficult to predict, but it is likely to remain stable or increase in price because Europe/America/Asia/Africa… have to increase pepper imports to prepare for orders at the end of 2022. Particularly for the EU, Vietnam’s pepper exports are facing many advantages brought about by the Vietnam – EU Free Trade Agreement (EVFTA). In addition, investors in the EU bloc are considering moving processing factories to Vietnam to take advantage of cheap raw materials and labor, which will create momentum to promote pepper exports to a variety of EU markets. The Ministry of Agriculture and Rural Development said that in the first 7 months of the year, many items achieved higher export values ​​compared to the same period last year, such as: Coffee reached over 2.6 billion USD (up 46.2%); rubber reached over 1.6 billion USD (up 7.0%); rice over 2 billion USD (up 9.0%); pepper about 661 million USD (up 11.7%). Particularly for pepper, the quantity decreased but the high value still helped this industry to reach the export target of 1 billion USD this year. Currently, Vietnam is still the largest pepper producer and exporter in the world, accounting for about 60% of the total pepper output traded worldwide. However, our country’s pepper industry is facing major challenges such as low selling prices, lack of sustainability, and failure to meet the increasingly high demands of the markets. #pepper #hotpepper #news #agriculture #nhanong #mientay #taynguyen #pepper #pepper price today #pepper price #pepper today #pepper price udaklak #pepper price ubinhphuoc #pepper price dongnai #the latest pepper price

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