Egypt and Türkiye rush to buy black pepper from Vietnam
In the first four months of this year, Egypt and Türkiye unexpectedly bought large quantities of "black gold" from Vietnam. The price of this commodity in our country also increased sharply in the first days of May.
Statistics from the General Department of Customs show that last April, Vietnam exported 26,440 tons of pepper, earning 83.47 million USD, up 7.3% in volume but down 26.8% in value compared to April 2022.
The average export price of this commodity, known as "black gold", of our country reached 3,157 USD/ton, up 6% compared to March 2023 but down 31.8% compared to April 2022.
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Black pepper. Photo: Vietnamnet |
In the first four months of 2023, Vietnam's pepper exports reached 102,500 tons, worth 316.64 million USD, down 12.4% in volume and 33.8% in value over the same period last year. The average export price reached 3,088 USD/ton, down 32.8% over the same period in 2022.
By the end of April this year, exports of ground black pepper, white pepper and ground white pepper all decreased sharply in both volume and value. Black pepper exports alone reached over 64 thousand tons, worth 239 million USD, up 19.8% in volume and 0.7% in value over the same period last year.
Regarding the market in April 2023, exports to the US, the United Arab Emirates, India, Germany, the UK... all decreased sharply. However, pepper exports to Türkiye and Egypt recorded a sudden growth.
Specifically, by the end of April 2023, Vietnam exported 1,799 tons of "black gold" to Egypt, earning nearly 5.3 million USD, up 281.1% in volume and 157.4% in value; exports to Türkiye also increased 167.6% in volume and 89% in value over the same period in 2022.
The massive purchases have brought Egypt and Türkiye into the top 10 largest customers of Vietnam's "black gold" in the first four months of 2023.
Currently, our country has finished the new pepper harvest with an output of 200 thousand tons, an increase of 9% compared to the 2022 harvest. However, the increased import demand from China has caused businesses to increase purchases to stock in warehouses, although demand from the US and EU markets remains slow.
In the first days of May 2023, the price of black pepper in the domestic market increased sharply. Specifically, on May 19, the price of black pepper increased by VND 6,500/kg compared to the end of April 2023, to VND 73,000-75,500/kg; the price of white pepper was at VND 108,000/kg, an increase of VND 7,000/kg, but lower than the level of VND 114,000/kg in the same period last year.
In early May 2023, the export prices of black and white pepper were stable and tended to increase compared to the end of April 2023. Notably, the export prices of black and white pepper in Vietnam increased sharply compared to the prices of the same type of pepper from Indonesia and Brazil.
On May 18, at ports in Ho Chi Minh City, the export prices of 500g/l and 550g/l black pepper increased by 225 USD/ton and 275 USD/ton respectively compared to the end of April 2023, to 3,500 USD/ton and 3,600 USD/ton. The export price of white pepper increased by 170 USD/ton compared to the end of April 2023, to 5,000 USD/ton.
According to forecasts, world pepper prices will increase in the coming time due to increased consumption demand, although still affected by armed conflicts in Eastern Europe.
