Pepper prices today, October 10, 2024, in the domestic market continued to decrease slightly in some key localities, trading from 146,000 - 146,500 VND/kg.
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| Pepper price today October 10, 2024: Market down, top 5 largest exporting companies, demand from China has not recovered. (Source: Incredibleman) |
Pepper prices today, October 10, 2024, in the domestic market continued to decrease slightly in some key localities, trading from 146,000 - 146,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 146,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (146,000 VND/kg); Dak Lak (146,500 VND/kg); Dak Nong (146,000 VND/kg); Ba Ria - Vung Tau (146,000 VND/kg) and Binh Phuoc (146,000 VND/kg).
Thus, continuing yesterday's downward trend, domestic pepper prices today slightly decreased by 500 VND/kg in some key growing areas. The highest pepper price is at 146,500 VND/kg.
By the end of September 2024, Vietnam had exported 200,894 tons of pepper of all kinds, of which black pepper reached 177,953 tons and white pepper reached 22,941 tons. Total export turnover reached 991.0 million USD, black pepper reached 781.9 million USD, white pepper reached 142.1 million USD.
Compared to the same period in 2023, the export volume decreased by 1.7%, however, the export turnover increased by 46.1%. The average export price of black pepper in the first 9 months reached 4,852 USD/ton, white pepper reached 6,461 USD/ton, up 40.9% for black pepper and 30.4% for white pepper compared to the same period last year.
Leading pepper exporting enterprises in the first 9 months of 2024 include: Olam Vietnam: 20,565 tons, up 53.4%; Phuc Sinh: 18,513 tons, up 59.5%; Nedspice Vietnam: 15,136 tons, up 11.8%; Haprosimex JSC: 15,053 tons, up 79.0% and Tran Chau: 12,634 tons, down 4.5%...
Some other enterprises also had a sudden increase in export volume such as Simexco Dak Lak: 10,768 tons, up 202.9%; Lien Thanh: 10,760 tons, up 65.1%, Gia Vi Son Ha: 6,842 tons, up 47.6%...
According to a report by Nedspice, Vietnam's processed pepper exports increased by more than 50% compared to last year. Of which, whole black pepper exports increased slightly due to the absence of Chinese suppliers in the market.
China's economy in 2024 faces many challenges, including slow growth, falling consumer demand and difficulties in foreign exchange reserves.
These issues have affected China’s overall import levels, as businesses prioritize essential goods over items like pepper. Cautious spending and reduced purchasing power have curbed imports in many areas, including spices.
Commenting on the market in the coming time, according to experts, domestic pepper prices will remain below 150,000 VND/kg in the context of high gold and USD prices and the preparation for the new coffee harvest. In addition, Vietnam's pepper export prices will remain stable at a high level due to limited supply.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,706 USD/ton, up 0.06%; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton, down 1.48%; the price of Kuching black pepper (Malaysia) ASTA at 8,900 USD/ton.
Muntok white pepper price is 8,966 USD/ton, up 0.06%; Malaysian ASTA white pepper price is at 11,400 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 sharply reduced Brazilian pepper price while Indonesian pepper slightly recovered.
Source: https://baoquocte.vn/gia-tieu-hom-nay-10102024-thi-truong-di-xuong-top-5-cong-ty-xuat-khau-nhieu-nhat-nhu-cau-tu-trung-quoc-chua-phuc-hoi-289466.html
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