Huge Blow to the Chili Pepper Industry as Prices Go out of Control

Chili pepper price in China jumped by +304.47% YoY to USD 6.3/kg in W2 May-22. Challenges from India as the major exporter of chili pepper to China experienced heat waves and pest attacks resulting in lesser supply to the global market. On the other hand, demand for chili pepper increased in China thanks to the improved consumption of hotpot while an ongoing lockdown occur in China. These factors led the chili pepper price in China to skyrocket in May 2022.