Pepper price today October 19, 2024 in the domestic market decreased slightly in some key localities, trading from 143,500 - 144,500 VND/kg.
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| Pepper price today October 19, 2024: Demand decreased, market was less active; the reason for the shocking increase in Indonesian pepper imported into Vietnam. (Source: Getty) |
Pepper price today October 19, 2024 in the domestic market decreased slightly in some key localities, trading from 143,500 - 144,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 144,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (143,500 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 (144,000 VND/kg).
Thus, domestic pepper prices today decreased slightly by VND500/kg in Dak Lak and Dak Nong while remaining stable in other growing provinces. The highest pepper price was recorded at VND144,500/kg.
Since the beginning of the week, domestic pepper prices have fluctuated within a small range. Trading has been less active amid low supply and strong cash flow shifting to coffee.
The unstable global economic situation also contributes to the decrease in global demand for pepper. Inflation and economic recession are taking place in many countries, causing consumers to cut back on spending on non-essential items, including pepper.
In the domestic market, the Vietnam Pepper and Spice Association (VPSA) said that the amount of pepper in the population is almost gone, only in agents and warehouses of enterprises. The inventory of the 2023 crop transferred plus the import volume in 2024 is about 40,000 - 45,000 tons (including unofficial imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.
According to VPSA data, in September, Indonesia was the largest pepper supplier to Vietnam with a volume of up to 1,787 tons, worth 10 million USD, an increase of 5.6 times (460.2%) in volume and 5.3 times (430%) in value compared to the previous month.
The sharp increase in pepper imports from Indonesia is believed to be due to the country having just finished its harvest, resulting in abundant supply. Furthermore, the price of pepper imported from Indonesia to Vietnam last month decreased by 5.4% compared to the previous month, reaching an average of 5,649 USD/ton.
In the first nine months of the year, Indonesia was the third largest pepper supplier to Vietnam after Cambodia and Brazil, with a volume of 6,317 tons, up 2.3 times over the same period last year.
In addition, Vietnam also increased pepper imports from neighboring countries such as Cambodia (+95.4%), Singapore (+361.7%), while reducing imports from a more distant market, Brazil (-32%) in the first 9 months of this year.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,773 USD/ton, up 0.13%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton.
Muntok white pepper price is 9,272 USD/ton, up 0.13%; Malaysian ASTA white pepper price is at 11,200 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 continues to slightly increase Indonesian pepper price.
Source: https://baoquocte.vn/gia-tieu-hom-nay-19102024-nhu-cau-giam-thi-truong-kem-soi-dong-ly-do-tieu-indonesia-nhap-khau-vao-viet-nam-tang-soc-290562.html
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