As an important industry with yearly large export and import volume. The current situation and elements affecting the wholesale black pepper industry must be acknowledged by the buyers and suppliers.
A closer look at wholesale black pepper in the world
Black pepper is traded under HS Code 090411 and is expected to grow at a CAGR of 5% from 2019 – 2024. It is reputable in large population countries including China, the U.S. the UEA, and India.
See more: Buyers should understand about wholesale black pepper
The Establishment And Development Of Viet Agri Wholesale
The total pepper production in 2020 increased by 1.46% compared to 2019. The figure in 2021 is going to reach 413,017, a decrease of 7.7% compared to 2020 due to the effect of the COVID – 19. Other factors that affect the wholesale black pepper are the weather and soil conditions.
The world’s leading wholesale black pepper
It is reported that Vietnam is the largest wholesale black pepper country in 2020. The top 4 wholesale black pepper suppliers in 2020:
- Vietnam – $522.5M
- Brazil – $187.5M
- Indonesia – $156.1M
- Sri Lanka – $52.0M
Each country has its competitive advantages but the main factor that affects the production of these leading countries are: growing are soil conditions and cultivation techniques.
Factors affect the wholesale black pepper price
Several factors impact the price of wholesale black pepper:
- Demand and supply volume: Sources and demand are the main elements that directly affect the price of black pepper in bulk. The reason for the peak price in 2021 of wholesale black pepper is caused by the mismatch between demand and supply volume.
- Politics: The support between governments in agreements such as EVFTA, SAFTA, … promoting the export activities of agricultural countries.
- Social-economic situation: The freight and storage costs are badly affected by external factors.
Buyers should notice these elements to make a wise decision to get a reasonable price when trading wholesale pepper products.
