China "island goods", Vietnam's pepper prices plummeted

Published 2020년 7월 10일

Tridge summary

Pepper prices in Vietnam have seen a significant increase in the first half of July 2020, reaching nearly 2,000 dong / kg more than in June. However, a sudden drop on July 9 resulted in prices ranging from 48,400 - 51,000 VND / kg. This decrease is partly due to lower demand from foreign importers and the potential impact of Covid-19 on import needs. The export price of black pepper has declined, and the domestic prices are higher. The Covid-19 pandemic and the actions of China in selling pepper have negatively affected the export price and domestic market. As a result, Vietnam's pepper output is expected to decrease by about 15% in 2020 and possibly more in 2021.

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

Original content

In the first 10 days of July, pepper price increased by nearly 2,000 dong / kg compared to June, so there are many optimistic forecasts that pepper price will increase strongly again. However, at the trading session on July 9, 2020, Gia Lai pepper price suddenly dropped by VND 500 / kg to VND 48,000 / kg and the highest price was VND 51,000 / kg recorded in Ba Ria - Vung Tau. Pepper prices in Dong Nai increased to 48,500 VND / kg while in Dak Nong and Dak Lak Binh Phuoc at 49,500 VND / kg. Thus, the price of pepper throughout the region on July 9 fluctuated between 48,400 - 51,000 VND / kg. Domestic prices are higher than exports According to the Import-Export Department, at the port area in Ho Chi Minh City, the price of black pepper for export decreased due to the lower demand from foreign importers after importing a large amount of 150,000 tons. . The Covid-19 epidemic haunts the possibility of a second outbreak affecting the import needs of some major export markets. In ...

Source: CafeF