Market 'turns around', pepper imports into Vietnam from this Southeast Asian country increase dramatically

Pepper price today October 11, 2024 in the domestic market increased in some key localities, trading from 146,000 - 148,000 VND/kg.

Pepper price today October 11, 2024: The market 'turned around', pepper imports into Vietnam from this Southeast Asian country increased dramatically. (Source: Food Hacks)

Pepper price today October 11, 2024 in the domestic market increased in some key localities, trading from 146,000 - 148,000 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 (148,000 VND/kg); Dak Nong (148,000 VND/kg); Ba Ria - Vung Tau (147,500 VND/kg) and Binh Phuoc (146,000 VND/kg).

Thus, after 3 consecutive sessions of decline, domestic pepper prices today increased quite strongly in some key growing areas, increasing by 1,500 - 2,000 VND/kg. The highest pepper price reached 148,000 VND/kg.

Vietnam Pepper and Spice Association informed that in September 2024, Vietnam imported 2,430 tons of pepper, of which black pepper reached 2,233 tons, white pepper reached 197 tons, total import turnover reached 13.6 million USD.

Compared to August, import volume increased by 63%. Olam, Phuc Sinh and Tran Chau were the three main importers. Indonesia was the largest pepper supplier to Vietnam, reaching 1,787 tons, up 460.2% compared to the previous month.

As of September 30, Vietnam imported 23,778 tons of pepper of all kinds, of which black pepper reached 20,890 tons and white pepper reached 2,888 tons, with a total import turnover of 102.0 million USD.

Compared to the same period in 2023, import volume increased by 15.8%. The main importing enterprises include: Olam Vietnam, Pearl Group, KSS Vietnam, Phuc Sinh and Lien Thanh, of which Olam holds the largest market share of 35.7%, reaching 8,498 tons, up 11.0%.

Brazil, Cambodia and Indonesia are the three main pepper suppliers to Vietnam, accounting for 90.3%, reaching 8,512 tons, 6,651 tons and 6,317 tons respectively, of which imports from Brazil decreased by 32%, from Cambodia increased by 95.4% and from Indonesia increased by 134.2%.

Pepper imports have increased sharply amid dwindling domestic supplies. By the end of September, Vietnam's pepper exports reached 200,894 tons, far exceeding the 2024 crop's output of 170,000 tons. At the same time, exports in September were reported to have decreased significantly.

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 6,706 USD/ton; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,900 USD/ton.

Muntok white pepper price is 8,966 USD/ton; 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.

Source: https://baoquocte.vn/gia-tieu-hom-nay-11102024-thi-truong-quay-xe-nhap-khau-ho-tieu-vao-viet-nam-tu-quoc-gia-dong-nam-a-nay-tang-soc-289603.html