Pepper prices rose again thanks to reduced supply in Vietnam

Published Nov 12, 2020

Tridge summary

Vietnam has seen a significant increase in the price of black pepper in November, with districts in Dak Lak, Gia Lai, and Dak Nong provinces reporting prices as high as 54,000 - 54,500 VND / kg, due to flooding and disease impacting pepper cultivation. Despite these challenges, Dak Nong province is expected to have a good yield. However, the overall pepper production in Vietnam is predicted to decrease by 10-15% due to lack of investment and care, as well as climate change and dry weather. The country's pepper industry faces new opportunities and challenges due to its participation in the EVFTA Free Trade Agreement, with exports to the EU seeing an increase. Despite the challenges, there are also positive signs in the pepper market, with increased purchases by China and positive trends in the market as countries lift social distance measures.

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

Original content

According to the Import and Export Department, on November 9, the price of black pepper increased from 1,500-2,000 VND / kg (equivalent to an increase of 2.8 - 3.8%) compared to October 30. An increase of 2,000 VND / kg (equivalent to an increase of 3.8%) in the districts of Eo H'leo, Dak Lak province, Chu Se district, Gia Lai province, Gia Nghia district, Dak Nong province, to 54,000 - 54,500 VND / kg. In Ba Ria Vung Tau province, the price of black pepper increased by 1,500 VND / kg (equivalent to an increase of 2.8%), reaching the highest level of 56,000 VND / kg. The price of white pepper was stable at 71,000 VND / kg compared to the end of October, but increased by 8,000 VND / kg (equivalent to an increase of 12.7%) compared to the same period in 2019. floods threaten pepper-growing gardens in the face of an outbreak of disease. Therefore, the possibility of replanting pepper is low. Dak Nong province is forecasted to have a good and stable yield compared to other pepper ...

Source: Vietnambiz