Predicting the time when Vietnamese pepper exports increase, great expectations from the billion-people market

Pepper price today November 14, 2024: Comments on the time when Vietnamese pepper exports increase, great expectations from the billion-people market. (Source: Food Hacks)

Pepper price today, November 14, 2024 in the domestic market decreased sharply in some key localities, trading from 138,000 - 139,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 138,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (138,000 VND/kg); Dak Lak (139,000 VND/kg); Dak Nong (139,000 VND/kg); Ba Ria - Vung Tau (138,000 VND/kg) and Binh Phuoc (139,000 VND/kg).

Thus, domestic pepper prices today decreased sharply in most key growing areas, with a decrease of 1,000 - 2,200 VND/kg. The highest pepper price was at 139,000 VND/kg.

The Import-Export Department (Ministry of Industry and Trade) forecasts that Vietnam's pepper export activities will not be favorable in the last months of this year due to limited domestic supply, in addition, demand from China is still low. It is expected that by early 2025, the export situation to this market will be more positive as demand is expected to increase sharply.

Regarding the timing of the increase, experts believe it will be at the end of the year, when markets increase imports for the holiday season. High expectations are still due to demand from the billion-people Chinese market.

Vietnam's new pepper crop in 2025 is expected to be delayed by 1 month. This will create a certain shortage in supply, thereby positively affecting world pepper prices.

In the domestic market of Vietnam, pepper prices are still under pressure as demand slows down, while sellers seek to raise capital to invest in coffee, an agricultural product that is in harvest season. However, limited supply has helped pepper prices remain about 70% higher than at the beginning of the year and double the same period last year.

According to the General Department of Customs, in the first 10 months of the year, the export of this spice item reached 218,732 tons, worth 1.11 billion USD, down 3% in volume but up 47% in value compared to the same period in 2023.

Thus, after only 10 months, the pepper industry has returned to the top of the billion-dollar export club after 6 years away from this milestone. This result also helps pepper become the agricultural product with the strongest increase in export turnover since the beginning of the year.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,518 USD/ton, down 0.6%; the price of Brazilian black pepper ASTA 570 at 6,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.

Muntok white pepper price is 9,122 USD/ton, down 0.6%; Malaysian ASTA white pepper price is at 11,000 USD/ton.

Vietnam black pepper price is traded at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 9,400 USD/ton.

IPC continues to adjust pepper prices down in Indonesia. Domestically, the market continues to break the 140,000 VND/kg mark. Since October 2024, pepper prices have tended to decrease due to sell-offs due to liquidity needs.

Source: https://baoquocte.vn/gia-tieu-hom-nay-14112024-nhan-dinh-thoi-diem-xuat-khau-tieu-viet-tang-ky-vong-lon-tu-thi-truong-ty-dan-293645.html