I’d like to brief some market information as below:
According to statistic of VPA, in 2022, Vietnam exported 232,000 tons, in which black pepper 202,000 tons and white pepper 30,000 tons. Total export turnover reached 985.3 million USD. Compared with 2021, the export volume decreased 12% equivalent 31,700 tons. Asia, US , EU are the main market of Vietnam, in which Asia is the leading region with 105,916 tons. In 2022, China only imported 20,500 tons, reduce 46.4%; Egypt down 43.7% and South Africa down 32% but Singapore increased 717.6%; Hongkong 611%.
In 2022, Vietnam imported 36,700 tons in which 32,600 tons black pepper and 4,100 tons black pepper; increased 44.7% compared 2021. Cambodia; Brazil, and Indonesia are 3 main suppliers for Vietnam; in which Cambodia increased 117 %; Brazil increased by 105% and Indonesia down 40%. In 2022, Vietnam mainly imported white pepper from Indonesia.
In Nov 2022, exchange rate between USD/VND increased sharply 6% but from end of Dec to Jan 2023, it was adjusted down to 6%, so it effects strongly in exporting price a lot. Now it is stable, and exporting price is not competitive as before.
For the first 3 weeks of January, with the present of China buyers, pepper price in Vietnam remains stable, and not down as many people expected. New crop is coming after Tet holidays, with crop is better but the areas of pepper plants were reduced (replaced by fruit trees such as durian, passion fruit, jack fruits…), so the volume of 2023 is estimated about 180,000 tons. China opened the doors, so they may come back to the market as before, so everyone is careful to offer for forward contract in 2023; even demand is till slow and stock in US and EU is pretty enough.
PS: SWAN IMEX CO 2023