Pepper price today December 14, 2024 in the domestic market decreased sharply in some key localities, trading from 143,000 - 145,200 VND/kg.
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| Pepper price today December 14, 2024: Market turns around, importers shift supply, how long will the decline last? (Source: Ptexim) |
Pepper price today December 14, 2024 in the domestic market decreased sharply in some key localities, trading from 143,000 - 145,200 VND/kg.
Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (145,000 VND/kg); Dak Lak (145,000 VND/kg); Dak Nong (145,200 VND/kg); Ba Ria - Vung Tau (145,000 VND/kg) and Binh Phuoc (145,000 VND/kg).
Thus, domestic pepper prices today decreased in most key growing areas, with a decrease of 1,000 - 2,000 VND/kg. The highest pepper price was at 145,200 VND/kg, recorded in Dak Nong.
The Import-Export Department (Ministry of Industry and Trade) said that the reason for the decrease in pepper prices was due to information that domestic inventories were still high. In addition, import markets have shifted in supply structure, instead of importing from Vietnam, they are now shifting to the Brazilian and Indonesian markets.
At the same time, according to the Import-Export Department, the downward trend in world prices will not last long because increased year-end consumption demand will be a positive driving force for global pepper prices.
The agency forecasts that in the last months of this year, Vietnam's pepper exports will face difficulties because domestic supply is limited and demand from China remains low. However, it is expected that by early 2025, pepper exports will be more favorable when demand from China may increase sharply.
According to the Vietnam Pepper and Spices Association (VPSA), in the first 11 months of 2024, Vietnam exported 235,335 tons of pepper of all kinds with a total turnover of 1.22 billion USD, down 3.5% in volume but up 46.9% in turnover compared to the same period in 2023.
The US remains the largest consumer market for Vietnamese pepper with exports reaching 67,802 tons, up 41.1% over the same period last year.
Other markets such as the UAE, Germany, the Netherlands, South Korea, Pakistan, Canada, Russia, and the UK also recorded impressive growth. In particular, exports to Hong Kong (China) increased dramatically, reaching 3,933 tons compared to only 129 tons last year. However, exports to the Chinese market decreased sharply by 83.6%, reaching 9,661 tons.
According to an update from the International Pepper Community (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper was listed at 6,822 USD/ton, unchanged from the previous trading session.
Similarly, the price of Brazilian black pepper ASTA 570 reached 6,250 USD/ton, the price of Malaysian Kuching black pepper was at 8,200 USD/ton.
Vietnam's export prices of 500 g/l and 550 g/l black pepper continued to remain stable at around 6,300 - 6,600 USD/ton.
According to Comexstat, in November 2024, Brazil exported 4,302 tons of pepper with a turnover of 28 million USD, compared to October, the export volume increased by 18.8% and the turnover increased by 19.6%.
The United States was the largest export market for Brazilian pepper in the month, reaching 850 tons, followed by Germany with 464 tons, Pakistan with 433 tons, and Vietnam ranked 8th with 251 tons.
By the end of November 2024, Brazil's pepper exports reached 57,290 tons, with a turnover of 257.8 million USD. Compared to the same period last year, the export volume decreased by 21.8%, but the turnover increased by 44.9%. The UAE was the largest export market with 7,556 tons, followed by Vietnam with 7,230 tons, Pakistan with 6,356 tons, India with 5,982 tons and Senegal with 5,252 tons.
Source: https://baoquocte.vn/gia-tieu-hom-nay-14122024-thi-truong-quay-dau-nha-nhap-khau-chuyen-dich-nguon-cung-da-giam-keo-dai-toi-bao-gio-297308.html
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