Pepper market on January 9: Prices show signs of cooling down after three sessions of stagnation

Other Sweet Pepper

Herbs, Spices & Seasonings

Vietnam

Market & Price Trends

Published Jan 10, 2024

Tridge summary

In December 2023, Vietnam imported 2,048 tons of pepper, including 1,949 tons of black pepper and 99 tons of white pepper, showing a 3% increase compared to November. Despite being a major producer and exporter of spices, including pepper, Vietnam's pepper output is expected to decrease by 10-15% in the 2023/24 crop year, due to the trend of switching to growing other fruit trees. China has become Vietnam's largest market for pepper, surpassing the US, and pepper exports to Asia increased sharply by 29% in 2023.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Domestic pepper price (Unit: VND/kg) Preliminary statistics from the Vietnam Pepper and Spice Association (VPSA) show that Vietnam imported 2,048 tons of pepper of all kinds in December 2023, an increase of 3% compared to November, including 1,949 tons of pepper. black and 99 tons of white pepper. For the whole year 2023, Vietnam imported 26,538 tons of pepper of all kinds, down 27.7% compared to 2022; of which black pepper reached 24,903 tons, white pepper reached 1,635 tons. According to VPSA, Vietnam is one of the largest spice producers and exporters in the world, accounting for about 11% of the global market share in 2022, ranking first in the production and export of pepper and cinnamon. However, according to the general assessment of businesses, pepper output in the 2023/24 crop year is expected to decrease by 10-15% to 160,000-165,000 tons, due to the trend of switching to growing other economically effective fruit trees. than. In 2023, China has greatly increased ...

Source: Vinanet