Pepper exports from the world's largest producer and re-exporter India reported a decrease in the major consuming countries of the US, Russia and Germany. As soon as the harvest season in some red pepper regions in China offers to sell at an average export price of US$5600/ton due to the high yield of the new harvest.
Consumption demand in some major importing countries decreased in the Middle East and the US, in the context that the current selling power is showing signs of recovery and merchants are increasing exports when transportation is no longer difficult. towel as before.
Pepper prices of exporting countries from March 30 to April 5, 2022.
The disruption of sea transport has slowed down global export trade in the past months, but now that port trade is recovering, export shipping has started to become more favorable.
About Export
Reportedly, exports from India in the first three months of the year increased by 34%. Total accumulated exports in January reached 14,724 tons, bringing the value of 31.5 million USD – data of the General Department of Customs. The main import markets are Bangladesh and the UAE.
The major global importer lacks the participation of Ukraine, where the country usually has an equally large share of imports from Latin American countries. This makes European buyers switch to buying in the Chinese market at a cheaper price than India.
Even then, the US import market is expected to still import from Latin American countries and India to avoid the loss of exported supplies from Ukraine.
About Domestic Trade
Trade of pepper in the domestic market in Vietnam decreased by more than 1,000 VND compared to the beginning of the week while the export price of pepper remained unchanged. Price of 500gr pepper is offered at 3390 USD/ton, 500gr black pepper price is 4190 USD/ton, as soon as white pepper is 5990USD/ton – World Pepper Association reports on April 5, 2022.
The pressure on closing the financial year on March 31 every year and the closing of the books may last until April 10, making Indian buyers hardly and have not participated in buying again. When India is the world's largest consumer market, restrictions are limited. India - is also the largest importer and re-exporter of finished pepper in the world along with other spices.
