For China, this year’s imports accounted for the largest proportion of Indian peppers, which accounted for 94.25% of imports. In addition, Vietnamese peppers were also imported, mainly because the price of Vietnamese peppers was lower this year. However, due to the short showing-up period of Vietnamese peppers, the import volume is limited and the proportion is relatively small.
According to customs statistics, in October 2021, China’s pepper exports amounted to about 407,7361 kg, with an export value of about a 68million RMB, with an average of 16.68 RMB per kg. The export volume in October increased by 19.76% year-on-year.
Generally speaking, affected by the epidemic, there are certain difficulties in the offline industry this year. However, due to the higher profits of Indian pepper transactions in previous years, the awareness of customers inside and outside the industry has increased this year. In addition, the convenience of capital allocation and other conditions have been added, which led to the fact that the barriers to entry have been lowered. In the first half of this year, especially from March to May, the domestic pepper imports soared, and the disorderly growth caused the price of Indian pepper to plummet.
The import volume is gradually decreasing, and the heavy rainfall in July caused a significant reduction in domestic pepper production, which continued to bring hope to the industry. Imports have increased, but have dropped significantly compared to the first half of this year.
Source: myagric.com