Vietnam earned more than 1 billion USD from pepper exports in the past 9 months.
According to preliminary figures from the General Department of Customs, in the first 9 months, our country exported more than 200,000 tons of pepper. Although the export volume decreased by 1.5% compared to the same period last year, the value increased by nearly 47%.
In September alone, average exports reached nearly 6,240 USD/ton, the highest level in 8 years.
The Import-Export Department ( Ministry of Industry and Trade ) forecasts that global pepper prices will remain high in the short term due to limited supply.
According to Ms. Hoang Thi Lien, President of the Vietnam Pepper and Spice Association (VPSA), one of the main reasons for the recent increase in pepper prices is due to limited supply worldwide . Even Indonesia and India have limited supply and smaller producing countries such as Malaysia, Sri Lanka and especially the two countries that determine global supply, Brazil and Vietnam, have all seen reduced output due to the impact of El Nino weather factors causing drought. Looking at the long term in the next 3-5 years, the amount of pepper produced will not be able to meet the world's consumption demand.
From the perspective of pepper industry expert, Mr. Hoang Phuoc Binh, Permanent Vice President of Chu Se Pepper Association, Gia Lai , pepper prices have increased rapidly recently due to the impact of speculative factors. Because the world price is currently increasing, the domestic price is lower than the world price, so many small retailers are hoarding goods and pushing up prices. The scarce supply while the market demand is increasing has pushed pepper prices up again. In addition, there are opinions that China's return to buying goods has also had a strong impact on pepper prices.
However, speculation in pepper supply is also considered to have positive aspects. Ms. Hoang Thi Lien acknowledged that many farmers with sufficient financial capacity, instead of depositing money in banks with very low interest rates, have bought several tons of pepper to store like businesses. Previously, people did not buy pepper, but now they have a good grasp of market information so they buy and store.
Ms. Hoang Thi Lien also recommended that businesses need to adjust so that the import and selling prices have a similar increase to avoid price risks. If domestic pepper prices increase, businesses need to increase export prices accordingly. In addition, businesses can buy gradually, avoiding rushing, otherwise it will affect prices when there are large orders, creating more scarcity of goods.
According to PV/VTV
Source: https://doanhnghiepvn.vn/kinh-te/xuat-khau-ho-tieu-can-moc-1-ty-usd/20241002080438211
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