Vietnam has a reputation for a developed agriculture industry. Especially, when it comes to pepper, Vietnam is the most pepper exporting country with high quality products. How is Vietnam black pepper price, this post below will answer your question.
Contents
- 1. General situations about Vietnam black pepper price
- 2. Vietnam black pepper price fluctuations on the domestic and export market
- 2.1. Vietnam black pepper price on the export market
- 2.2. Vietnam black pepper price on the domestic market
- 3. Vietnam black pepper price comparing to world’s largest exporting countries
- 4. Vietnam black pepper price today daily updates
1. General situations about Vietnam black pepper price
By the end of 2021, in general, the high black pepper price in Vietnam, especially black pepper, led to the pepper export reaching the highest level since 2018. In the meantime, the pepper industry also had the highest growth in the group of agricultural, forestry and fishery products.
Vietnam black pepper price situations
- In early 2021, Vietnam black pepper price saw an increase by 40 – 44%, from 2170 – 2250 USD/ton to 3230 – 3380 USD/ton, marking a highlight of recovery of the pepper industry after 4 years dealing with the obstacles of surplus, causing the price of black pepper to going down continuously. In the following period, the Vietnam black pepper price reached a peak of 3820 USD/ton which was the highest level since the end of 2017. The reason for the dramatic increase in black pepper price in Vietnam in 2021 is because the cultivation area and supply output saw a continuous decline due to the significant decrease in pepper prices in previous years.
Vietnam black pepper price between 2017 and 2021
- Vietnam’s total pepper export revenue fell in 2021 compared to 2020, but the export value climbed by 41.98%, or 277.28 million USD, compared to the entire year of 2020, demonstrating the strength of the black pepper exporting market in Vietnam. Vietnam black pepper price was about $4190 per ton at export by the end of 2021, while white pepper would cost about $6400 per ton.
- Due to a large number of difficulties in the consuming market in 2022, the Vietnam black pepper price varied in the initial months of the year and drastically decreased in the latter months of the year. In the section that follows, we will examine each stage in further depth.
2. Vietnam black pepper price fluctuations on the domestic and export market
When it comes to the pepper industry in Vietnam, we need to take into account price movements in both export and domestic markets because they are closely related, in the context of an open economy.
Vietnam black pepper price fluctuations
2.1. Vietnam black pepper price on the export market
The export black pepper price in Vietnam is the primary concern of bulk black pepper wholesalers.
- Vietnam black peppercorn price
- By the end of March 2022, the export of Vietnam black pepper price, 500g/l and 550g/l, at the port of Ho Chi Minh City, Vietnam, was between 3990 and 4190 USD/ton, up 11 to 15% from the same time the previous year but down 4.8 to 5.1% from the beginning of the year.
- When compared to the beginning of the year and the same time last year, Vietnam black pepper price for export in the major producing nations has dropped by 8 – 16% as of the end of June. Black pepper 500g/l and 550g/l export prices in Vietnam have dropped 9.1 – 10.7% (or 135 – 345 USD/ton) since the beginning of the year and by 3.3 – 8.4% when compared to the same time last year and 4000 USD/ton and 3750 USD/ton.
Vietnam black pepper price by the end of the third quarter of 2022
-
- By the end of the third quarter of 2022, the average price of black pepper in Vietnam for export rose by 30.7% from the second quarter to $4414/ton. But compared to 2021, the Vietnam black pepper price dropped by over 13% since the year’s commencement.
Vietnam black pepper in 2022
-
- By the end of 2022, Vietnam black pepper price for export was 3100 – 3200 USD/ton, which is 26 – 27% less than it was at the start of the year.
- Vietnam black pepper powder price: Similar to the price of black pepper in wholesale peppercorn in the world, the wholesale price of black pepper in Vietnam is about 3300 USD per ton, which is average when compared to other wholesale countries. The expense of processing accounts for the higher cost of black pepper powder compared to pepper. Finished items are created through processing, preservation, and packaging.
2.2. Vietnam black pepper price on the domestic market
Because export price also affects domestic price, black pepper price in Vietnam tend to fall or fluctuate from day to day on the domestic market, although they are unable to reach the high levels of earlier times. earlier paragraph.
- Vietnam black peppercorn price
- In the first quarter of 2022: After the Lunar New Year, the Vietnam black pepper price became very active, rising quickly to between 84000 and 87000 VND/kg. The reason is that commerce with China, one of Vietnam’s biggest markets for pepper consumption, has resumed, making the pepper supply chain efficient. However, by the end of February, Vietnam black pepper price dropped by 300 USD/ton to just about 3270 USD/ton – 3400 USD/ton, and for the first three months of the first quarter, there were some days when the price was unchanged. This is because black pepper from Vietnam is beginning a new harvest season, which has increased the availability of pepper, while China, Vietnam’s major consumer market, has tightened the control of the Covid 19 pandemic, leading to an excess of black pepper.
- In the second quarter of 2022, the Vietnam black pepper price dropped significantly, to 2940 to 3070 USD/ton, down 430 USD/ton to 530 USD/ton from the price of roughly 3410 USD/ton in the first quarter. The crisis is the root cause. Energy and food shortages brought on by protracted political tensions between Russia and Ukraine; at the same time, Vietnam’s pepper exports have been constrained by China’s tightening disease control measures in response to worries about the global Covid 19.
Vietnam black pepper price on domestic market
-
- In the third quarter of 2022, The domestic Vietnam black pepper price dropped to just 2700 – 2810 USD/ton, a decline of 8 – 8.5% from the second quarter and the lowest price of the spice since March 2021. The government’s implementation of the Zero Covid policy is still thought to be the root of the problem, and the protracted conflict between Russia and Ukraine has had negative effects like higher inflation and a decline in the value of the VND/USD.
- By the end of 2022, Vietnam black pepper price was offered at 2610 USD/ton.
- Vietnam black pepper powder price: On the domestic market, black pepper price in Vietnam for powder was about 2870 USD/ton.
3. Vietnam black pepper price comparing to world’s largest exporting countries
Currently, the top three countries exporting black pepper are Vietnam, Brazil, and Indonesia. Therefore, we will contrast these nations’ export prices for Vietnamese black pepper.
Vietnam black pepper price compared to other countries
-
- As can be seen, Vietnam black pepper price 500g/l, which has a higher proportion than the 500g/l pepper and pepper from the other two countries, has the highest export price in the early months of 2022 because of better grain quality, more flavorful and fragrant. However, in the latter months of the year, Vietnam’s 550g/l black pepper cost 3250 USD/ton less per ton than Indonesia’s black pepper, which cost 3806 USD/ton.
Vietnam black pepper price in international market
-
- Vietnam black pepper price for export is generally higher than that of Brazil and lower than that of Indonesia because Vietnam is a producer and exporter of pepper, therefore it has a lot available to supply for both domestic use and export to other countries. Vietnamese wholesalers are switching to importing black pepper from Brazil, which has a lower pepper price of Vietnam, which has caused Vietnam to lose some of the consumption market. However, the reason why the export price of black pepper in Vietnam is declining is due to the influence of political, social, and economic situations in the world.
4. Vietnam black pepper price today daily updates
We will inform you of the black pepper price in Vietnam today.
- Vietnam black pepper price for export
| Black pepper 500g/l | Black pepper 550g/l |
| 3100 USD/ton | 3200 USD/ton |
According to the latest update from IPC, Entering 2023, the Vietnam black pepper price for export began to show signs of recovery, increasing slightly from January 1 and maintaining a stable level in the following days.
- Vietnam black pepper price on domestic market
| City | Price (USD/ton) |
| Dak Lak | 2490 |
| Gia Lai | 2440 |
| Dak Nong | 2490 |
| Ba Ria – Vung Tau | 2550 |
| Binh Phuoc | 2510 |
| Dong Nai | 2120 |
According to the latest update on January 1st 2023, the Vietnam black pepper price on the domestic market in the new year increased slightly compared to the end of 2022. However, the USD/VND exchange rate has decreased, so if calculated according to the latest exchange rate, the price of pepper will be seen. Vietnamese black is now lower than at the end of last year.
