Pepper price in Vietnam has increased by 44.6%, the US and China both like to buy it

Published Jun 24, 2021

Tridge summary

Pepper prices in Vietnam are stable, with ranges from 71,000 - 74,500 VND/kg in key localities, influenced by the market in India. A global pepper shortage is expected to increase prices due to increased consumption demand as social distancing relaxes in various countries. Vietnam's pepper exports are expected to be profitable, particularly in the US, European, and Indian markets. The country has shifted its export strategy to focus on higher quality pepper, with a decrease in raw pepper exports and a significant increase in ground black and white pepper exports to the US and the UAE. In Q1 2021, Turkey's pepper imports from Vietnam surged by 64.2% in volume and 65.4% in value, accounting for 46.33% of total imports, as Turkey increases imports to meet domestic demand.

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

Original content

According to the survey, pepper prices today (June 24) in key localities were stable at 71,000 - 74,500 VND/kg. In Ba Ria - Vung Tau, pepper price today (June 24) reached 74,500 VND/kg, the highest in the market today. Pepper prices today in Dak Lak, Dak Nong and Binh Phuoc ranged from 72,500 to 73,000 VND/kg. Pepper prices today (June 24) in Dong Nai and Gia Lai are stable in the range of 71,000 - 71,500 VND/kg. According to the Import-Export Department (Ministry of Industry and Trade), in early June 2021, pepper prices in Vietnam and Malaysia were stable, but pepper prices in India decreased. It is forecasted that global pepper prices will be favorable in the near future due to a shortage of supply and an increase in consumption demand when many countries and territories relax social distancing. Vietnam's pepper exports in the coming time will be favorable in price when the US, European and Indian markets relax social distancing, and China increases imports to make up for the ...

Source: Danviet