Demand is vibrant, paradoxically export prices are high but there is no goods to sell

Pepper prices today, September 14, 2024, in the domestic market are stable in some key localities, trading from 152,000 - 156,000 VND/kg.

Pepper price today September 14, 2024: Demand is vibrant, paradoxically export prices are high but there is no goods to sell. (Source: Public Goods Blog)

Pepper price today, September 14, 2024 in the domestic market is stable in some key localities, trading from 152,000 - 156,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 153,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (153,000 VND/kg); Dak Lak (156,000 VND/kg); Dak Nong (156,000 VND/kg); Ba Ria - Vung Tau (155,000 VND/kg) and Binh Phuoc (152,000 VND/kg).

Thus, after 2 days of increase, domestic pepper prices today recorded stability in key localities. The highest pepper price is at 156,000 VND/kg.

By the end of the first 8 months of the year, the total amount of pepper exported was 182,930 tons, with a value of nearly 878 million USD, down 2.7% in quantity but up 41.8% in value thanks to high prices.

With rising pepper prices and a favorable market, Vietnam's pepper export turnover is expected to exceed 1 billion USD this year, marking a strong return of "black gold" after 6 years.

However, the amount of pepper exported from now until the end of the year may be lower than every year because the export volume in the past 8 months has exceeded the output of 170,000 tons of the 2024 crop.

According to the Vietnam Pepper and Spice Association (VPSA), the inventory from the 2023 crop carried over plus the import volume in 2024 of about 40,000 - 45,000 tons (including informal imports) shows that the export source from August 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.

It is forecasted that the 2025 pepper crop will be harvested almost entirely in February, with many regions extending to March and April, 1 to 2 months later than previous years due to the impact of prolonged drought.

Surveys show that the demand for pepper in the world market is still very vibrant, especially from traditional markets. However, demand from China tends to fluctuate with prices. When pepper prices increase, demand from this market may decrease.

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 7,559 USD/ton, up 0.03%; the price of Brazilian black pepper ASTA 570 at 7,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.

Muntok white pepper price is 9,117 USD/ton, up 0.02%; Malaysian ASTA white pepper price is at 10,900 USD/ton.

Vietnam's black pepper price is trading at 6,800 USD/ton for 500 g/l, down 300 USD/ton (4.41%); 550 g/l is at 7,100 USD/ton, down 125 USD/ton (1.76%); white pepper price is at 10,150 USD/ton. IPC adjusted up the price of Indonesian pepper, down the export price of Vietnam pepper, except for white pepper.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1492024-nhu-cau-soi-dong-nghich-ly-gia-xuat-khau-neo-cao-nhung-khong-co-hang-de-ban-286201.html