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Pepper prices may continue to decline due to the negative impact of COVID-19

13/04/2021

The Import and Export Department forecasts that in the upcoming period, pepper prices are likely to decrease due to concerns about the COVID-19 pandemic, many countries implementing tightened social distancing measures with consumption demand decreased.

At Hekou border gate (China), on April 8, export price of white pepper was stable at USD 6,385/ton compared to March 30.

At the Indonesian port of Lampung ASTA, on April 8, export price of black pepper increased by 4.8% compared to March 30, to USD 3,763/ton. Export price of white pepper increased by 3.2% compared to March 30, to USD 7,187/ton.

In the domestic market, at the beginning of April, the price of pepper in the country decreased. In addition to the businesses delaying deliveries due to the incident in the Suez Canal, the decline in imports by China caused the price of pepper to drop.

According to the Agro-Processing and Market Development Authority, domestic raw material pepper prices in March still fluctuated sharply. Pepper prices in Ba Ria Vung Tau increased by VND 17,500/kg to VND 73,000/kg.

As of March 25, pepper prices in the provinces of Dak Lak - Dak Nong, Gia Lai, Dong Nai, Ba Ria - Vung Tau and Binh Phuoc all increased by VND 1,000 compared to the previous day. Purchase transaction prices were at the threshold of VND 72,000/kg, VND 71,000/kg, VND 70,000/kg, VND 74,000/kg and VND 73,000/kg.

According to the Agro-Processing and Market Development Authority, in the first quarter of 2021, the domestic pepper price fluctuated with an increase of VND 16,000 - 18,500/kg. Pepper prices increased due to reduced supply while demand improved.

The Import and Export Department forecasts that in the upcoming period, pepper prices are likely to decrease due to concerns about the COVID-19 pandemic, many countries implementing tightened social distancing measures with consumption demand decreased.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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