Vietnamese pepper is increasingly facing competition, there will be unusual price fluctuations.

Pepper prices today, August 1, 2024, in the domestic market decreased slightly in key localities, trading from 148,000 - 149,000 VND/kg.

Pepper price today August 1, 2024: Vietnamese pepper is increasingly facing competition, there will be unusual price fluctuations. (Source: Times of India)

Pepper price today, August 1, 2024, in the domestic market decreased slightly in key localities, trading from 148,000 - 149,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 148,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (149,000 VND/kg); Dak Lak (149,000 VND/kg); Dak Nong (149,000 VND/kg); Ba Ria - Vung Tau (149,000 VND/kg) and Binh Phuoc (148,000 VND/kg).

Thus, after 3 sessions of sideways movement, domestic pepper prices today turned to decrease slightly in key localities. The highest pepper price was at 149,000 VND/kg, losing the 150,000 VND/kg mark.

In July 2024, domestic pepper prices decreased by VND 5,000 - 6,000/kg. In June 2024, pepper prices increased by an average of VND 23,000 - 27,000/kg. July 2024 was also the first month of decrease after 3 consecutive months of increase.

On the morning of July 31, in Ho Chi Minh City, the Vietnam Pepper and Spice Association (VPSA) held a conference to review the first 6 months of the year and deploy tasks for the remaining half of the year.

At the conference, Mr. Le Viet Anh, General Secretary of VPSA, commented that pepper prices will have unusual fluctuations, such as on June 11, when the price increased sharply by 20,000 VND/kg in the morning but decreased sharply again in the afternoon.

He analyzed that pepper is increasingly being competed by durian and coffee. There is new planting area but not much, mainly intercropping pepper with coffee at a ratio of 6-2. The next crop's output may be equivalent or slightly higher than in 2024. The amount of inventory among people is not much, the situation of pests and diseases still exists but is not significant.

Vietnam's pepper exports in the first 6 months of 2024 reached 142,500 tons compared to the 2024 harvest output of about 170,000 tons, the remaining output is estimated at about 28,000 tons. The inventory from the 2023 crop carried over plus the 2024 import volume of about 40,000-45,000 tons shows that the export source from August until the end of the year will be lower than every year.

According to Mr. Le Viet Anh, pepper prices have increased in the past three months because of reduced harvest output in Vietnam and Brazil, causing a shortage in supply.

Experts say the market is in a saturated phase, with actual transactions not being much. One of the expected boosts is the sudden increase in purchasing power from the Chinese market that has yet to happen. In the first half of 2024, the amount of pepper imported from Vietnam to this market decreased sharply, reaching only 7,453 tons, down 85.2%.

This year, in China's main pepper producing region, crop failure is also worrying, with speculators hoarding goods. According to experts, it is likely that China and European traders are waiting for information and new shipments from the Indonesian harvest.

Commenting on the market in August 2024, experts predict that it will be more positive. The downward trend will end. Low supply in harvesting countries continues to be the driving force for the market to go up.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,138 USD/ton, down 0.21%; the price of Brazilian black pepper ASTA 570 at 6,850 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 8,747 USD/ton, down 0.21%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnamese black pepper price is trading at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton. IPC continues to adjust down the price of Indonesian pepper.

Source: https://baoquocte.vn/gia-tieu-hom-nay-182024-ho-tieu-viet-ngay-cang-bi-canh-tranh-se-co-nhung-dot-bien-dong-gia-bat-thuong-280822.html