Pepper prices today, September 28, 2024, in the domestic market continued to decline in key localities, trading from 148,000 - 149,000 VND/kg.
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| Pepper price today September 28, 2024: Gloomy market, 78% of pepper imported into the US comes from Vietnam. (Source: EMediHealth) |
Pepper prices today, September 28, 2024, in the domestic market continued to decline 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 (148,000 VND/kg); Dak Lak (149,000 VND/kg); Dak Nong (149,000 VND/kg); Ba Ria - Vung Tau (148,000 VND/kg) and Binh Phuoc (148,000 VND/kg).
Thus, continuing the downward trend, domestic pepper prices today continued to decline in key localities, with a decrease of 1,000 - 2,000 VND/kg. The highest pepper price was at 149,000 VND/kg.
According to the Center for Industry and Trade Information - Ministry of Industry and Trade, new supply from Indonesia has entered the market, helping to increase supply. It is estimated that Indonesia's pepper output in 2024 could reach 85,000 tons, up 5% over the previous year. This abundant supply creates significant downward pressure on the market.
Some of the Southeast Asian country’s major pepper-producing regions have completed harvesting. Producers have sold large quantities. Pepper prices in Indonesia are steadily rising and most exporters are limiting their offers.
In the first 7 months of 2024, the European Union (EU) increased pepper imports from all major extra-bloc sources, with growth rates recorded at double digits. According to statistics from the European Statistical Office, in the first 7 months of 2024, the EU imported 37.94 thousand tons of pepper from extra-bloc markets, worth 179.54 million EUR (equivalent to 199.79 million USD), up 31.6% in volume and 45% in value over the same period last year.
According to data from the US International Trade Commission (USITC), US pepper imports in July reached 10,259 tons, up 25.5% compared to the previous month and up 54.1% compared to the same period last year.
In the first 7 months of the year, this figure reached 55,922 tons with a value of 267.2 million USD, an increase of 38.7% in volume and 43.9% in value over the same period.
Of which, Vietnam supplied up to 78% of the total volume of pepper imported into the US in the first 7 months of the year, with a volume of 43,447 tons, worth 204.2 million USD, up 37% in volume and 46.2% in value over the same period last year.
Next is India with 4,441 tons, up 30.7% and accounting for 8% of the market share; Indonesia with 4,251 tons, up 110.3% and accounting for 8% of the market share; Brazil with 1,969 tons, up 49.2% and accounting for 3%...
Vietnam's pepper export price to the US averaged $4,701/ton in the first seven months of the year, up 6.7% over the same period last year. Similarly, India's pepper price also increased slightly by 2%, reaching an average of $5,032/ton. In contrast, Indonesia's pepper price decreased by 19.2%, Brazil's decreased by 8%, reaching $5,000/ton and $4,070/ton, respectively.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,927 USD/ton, down 0.52%; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton, up 2.22%; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.
Muntok white pepper price is 9,409 USD/ton, down 0.52%; Malaysian ASTA white pepper price is at 11,200 USD/ton.
Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton. IPC adjusted pepper price down in Indonesia while increasing in Brazil.
Source: https://baoquocte.vn/gia-tieu-hom-nay-2892024-thi-truong-am-dam-78-ho-tieu-nhap-khau-vao-my-toi-tu-viet-nam-287894.html
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