Pepper market on February 4: Price decreased by 1,000 VND / kg at Gia Lai, Vietnam

Published 2021년 2월 4일

Tridge summary

The article highlights the opportunities for the Vietnamese pepper industry due to international agreements like the CPTPP and EVFTA, which immediately eliminate tariffs for pepper products in several countries. Vietnamese pepper has a competitive advantage in these markets, especially with Mexico's commitment to eliminate tariffs. The Vietnamese Ministry of Industry and Trade is actively promoting pepper in various markets, including Northeast Asia, Middle East, China, US, EU. In contrast, Indian pepper prices have decreased, indicating a potential increase in imported pepper to meet global demand, particularly during the Covid-19 pandemic due to pepper's role as an immune booster.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Price movements of pepper in some raw material areas tintaynguyen.com The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement (EVFTA) is considered an opportunity. to expand exports to the pepper industry. According to Deputy Director of the Import and Export Department (Ministry of Industry and Trade) Tran Quoc Toan, for pepper products, the CPTPP Agreement has 9 countries committed to immediately eliminate tariffs, including: Australia, New Zealand, Canada, Malaysia, Singapore, Brunei, Chile, Peru, Japan. Particularly, Mexico market commits to eliminate tax according to 16-year roadmap for green pepper. Notably, in the CPTPP countries, only Malaysia is the country that produces significant pepper, but the export rate is not much, only about 3% of global exports. Therefore, it can be said that Vietnamese pepper has a huge competitive advantage in CPTPP countries. The Ministry of Industry and Trade has been actively ...

Source: Vinanet