Pepper prices skyrocketed thanks to China's sudden increase in buying pepper from Vietnam

According to the Import-Export Department (Ministry of Industry and Trade), the price of black and white pepper in the domestic market is increasing again thanks to increased import demand from China. Specifically, the price of black pepper in the domestic market increased from 1,500 - 2,500 VND/kg (depending on the surveyed area) compared to May 30, 2022, to 72,000 - 75,500 VND/kg. The price of white pepper was at 111,000 VND/kg, an increase of 2,000 VND/kg compared to the end of May 2022. At the moment, Vietnam's pepper price depends on the Chinese market when European and American importers have signed contracts until the end of this year. Enterprises have stocked enough goods for production and export, so the buying force is slower and weaker than the market's movements. According to statistics from the General Department of Customs, Vietnam's pepper exports in May 2022 reached 21,840 tons, worth $98.4 million, down 11.3% in volume and 13.7% in value. compared to April 2022, ...