The market turns around, Vietnam increases pepper imports from these two Southeast Asian countries

Pepper price today, November 9, 2024 in the domestic market is stable in some key localities, trading from 138,000 - 139,000 VND/kg.

Pepper price today November 9, 2024: The market turns around, Vietnam increases pepper imports from these two Southeast Asian countries. (Source: Food Hacks)

Pepper price today, November 9, 2024 in the domestic market is stable in some key localities, trading from 138,000 - 139,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 138,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (138,000 VND/kg); Dak Lak (138,500 VND/kg); Dak Nong (139,000 VND/kg); Ba Ria - Vung Tau (139,000 VND/kg) and Binh Phuoc (138,000 VND/kg).

Thus, after a day of shocking decline, domestic pepper prices today unexpectedly turned to increase in most key growing areas, with a sharp increase of 3,000 - 3,500 VND/kg. The highest pepper price was at 139,000 VND/kg.

According to the Vietnam Pepper and Spice Association (VPSA), in October 2024, Vietnam imported 4,818 tons of pepper of all kinds, of which black pepper reached 4,566 tons and white pepper reached 252 tons, with a total import turnover of 29.3 million USD, an increase of 98.3% compared to the previous month.

In the first 10 months of 2024, Vietnam imported 28,596 tons of pepper of all kinds, of which black pepper reached 25,456 tons and white pepper reached 3,140 tons, with a total import turnover of 131.3 million USD.

Compared to the same period last year, import volume increased by 27.1%, turnover increased by 78.5%. Indonesia became the largest pepper supplier to Vietnam, accounting for 36%, reaching 10,287 tons, up 257.2% over the same period. Next was Brazil: 9,013 tons, accounting for 31.5%, down 35.5%, and Cambodia accounted for 23.4%, reaching 6,695 tons, up 96.7%.

Leading importers include: Olam Vietnam: 9,510 tons, Tran Chau: 3,685 tons, Phuc Sinh: 1,942 tons, KSS Vietnam: 1,497 tons and Phuc Thinh: 1,396 tons.

It can be seen that pepper from Indonesia and Cambodia is being favored and imported more by businesses. The reason may be due to the geographical proximity and low transportation costs. In addition, this year's pepper output from Indonesia is higher than last year and the transaction price is also less volatile than other sources.

Meanwhile, Brazil's pepper output this year is recorded to have decreased sharply due to drought and price fluctuations.

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 6,665 USD/ton, up 0.47%; the price of Brazilian black pepper ASTA 570 at 6,300 USD/ton, down 1.59%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 9,124 USD/ton, up 0.46%; Malaysian ASTA white pepper price is at 11,000 USD/ton.

Vietnamese black pepper prices are trading at 6,500 USD/ton for 500 g/l; 6,800 USD/ton for 550 g/l; and 9,500 USD/ton for white pepper. IPC adjusted Indonesian pepper prices up again after a series of consecutive days of decline.

Pepper price today, November 9, 2024 in the domestic market is stable in some key localities, trading from 138,000 - 139,000 VND/kg.

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