Pepper price today 11/1/2024: Exports to China decrease sharply, risk of crop failure in Ba Ria pepper granary

Pepper price today, November 1, 2024 in the domestic market is stable in some key localities, trading from 143,000 - 144,500 VND/kg.

Pepper price today November 1, 2024: Exports to China decrease sharply, risk of crop failure in pepper growing area of ​​Ba Ria - Vung Tau. (Source: AdobeStock)

Pepper price today, November 1, 2024 in the domestic market is stable in some key localities, trading from 143,000 - 144,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (143,000 VND/kg); Dak Lak (144,500 VND/kg); Dak Nong (144,500 VND/kg); Ba Ria - Vung Tau (144,000 VND/kg) and Binh Phuoc (143,000 VND/kg).

Thus, after a day of slight increase, domestic pepper prices today remained stable in key growing areas. The highest pepper price is at 144,500 VND/kg.

Experts predict that pepper prices will not fluctuate much. The driving force for last season's strong increase was the lack of demand from China. According to statistics from the International Pepper Community, in recent months, the world's second largest economic market has increased imports from other countries.

According to data from the Chinese Customs Administration, in the first nine months of the year, the country imported 8,140 tons of pepper, worth 40.6 million USD, up 18.2% in volume and 37.9% in value over the same period last year.

Of which, Indonesia ranked first in supplying pepper to China in the first 9 months of the year with a volume of 4,617 tons, a sharp increase of 43% over the same period last year and accounting for 56.7% of the market's import capacity.

Vietnam ranked second with a supply volume of 2,520 tons, up 3.2% and accounting for 31% of the market share.

However, the data from the Chinese Customs Administration mainly covers the amount of pepper imported through official channels. According to data from the Vietnam Pepper and Spice Association, the amount of pepper exported from Vietnam to China in the first 9 months of the year (including official and unofficial channels) reached 8,905 tons, a sharp decrease of 84.1% compared to the same period last year.

With this result, China has fallen from the first position to the fifth position as the largest pepper export market of Vietnam. China's market share in our country's total pepper exports has also decreased from 27.2% to only 4.4%.

Domestically, next year's harvest is forecast by some sources to remain the same or increase slightly, fluctuating between 170,000 - 180,000 tons. Harvest time may come later due to weather.

However, in late October 2024, the press reported on the risk of many flowers falling off, resulting in low fruit set rates and a high risk of crop failure in Ba Ria - Vung Tau.

Many pepper farmers in Chau Duc, Xuyen Moc districts and Phu My town, Ba Ria - Vung Tau province said that this year the rain came late, the hot and dry weather and low humidity were not favorable for pepper to bloom.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,680 USD/ton, up 0.18%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 9,144 USD/ton, down 0.17%; Malaysian ASTA white pepper price is at 11,000 USD/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price is at 9,500 USD/ton. IPC increases Indonesian pepper price again.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1112024-xuat-khau-sang-trung-quoc-giam-manh-nguy-co-mat-mua-tai-vua-tieu-ba-ria-vung-tau-292094.html