Vietnam: Pepper export market in January 2021

Published 2021년 2월 28일

Tridge summary

Vietnam's pepper exports in January 2021 saw a decrease of 18.54% in volume and 8.67% in value compared to the previous month, and a further 14.43% in volume and 35.38% in value compared to the same period in 2020. The average export price increased by 4.23% compared to the previous month. The Vietnam Pepper Association predicts a 25-30% decrease in pepper production in 2021 due to Covid-19, lack of containers for export, and increased production from other countries. However, a significant increase in prices is unlikely due to the surplus of supply over demand. The pepper industry in Vietnam has 18 industrial-scale processing factories with a total capacity of 70,000 - 80,000 tons per year, but faces concerns over food safety and pesticide residues.

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

Original content

Pepper exports in January 2021 reached 16,896 tons, worth $ 48.72 million, down 18.54% in volume and 8.67% in value compared to December 2020, compared to January 2020. 14.43% in volume and 35.38% in value. The average export price in January reached 2,884 USD / ton, an increase of 4.23% compared with the average export price of December 2020. Information from tieudung.vn, Chairman of the Vietnam Pepper Association (VPA), said that by 2021 pepper production could decrease by 25-30% compared to 2020 to about 168-180 thousand tons. However, it is difficult for pepper prices in 2021 to increase sharply because supply still exceeds demand. The Covid-19 translation is still going complicated, causing restaurants to close, resulting in a sharp drop in demand. In addition, enterprises are still lacking empty containers to export goods, so the situation is even more difficult. In addition, other major pepper producing countries such as Brazil and Cambodia increased production, putting ...

Source: Vinanet