Vietnam: Notable pepper, sugar, and cocoa market information (10/6)

Published 2021년 10월 6일

Tridge summary

Pepper prices in Vietnam have reached a four-year high and doubled from their April 2020 low, with expectations to further increase to between 90,000 and 100,000 VND/kg by the end of the year. Despite this, farmers are not significantly benefiting as they sell most of their produce immediately after harvest. Vietnam remains the leading supplier of pepper to the US, accounting for 65.4% of the total imported volume in the first seven months of the year. Meanwhile, New York cocoa futures for December 2021 closed at a 10-month high of 2,755 USD/ton, driven by increased supplies from Ghana, the world's second-largest cocoa producer. However, Nigeria, the fifth-largest producer, reduced its prices after cocoa exports in August surged by over 700 percent year-on-year.

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

Original content

Pepper In the first days of October 2021, pepper prices fluctuated around 78,000 - 82,000 VND/kg. This is the highest level in the past 4 years and double the period of the bottom in April 2020. According to the forecast of the Chu Se Pepper Association, pepper prices are gradually getting better and by the end of the year, the price may reach from 90,000 to 100,000 VND/kg. Pepper prices are on an upward trend, but the biggest beneficiaries are not farmers because they sell most of their goods right after the harvest, so there is very little pepper in the population. At this time, although agents are buying pepper at high prices, there are not many transactions among the people. Vietnam was the largest pepper supplier to the US market in the first 7 months of the year, with a market share of 65.4% of the country's total imported pepper volume, reaching 36,132 tons, up 10% over the same period last year. last. In addition, the US also boosted the import of pepper from some ...

Source: Vinanet