Market is quiet, Vietnam sharply reduces imports from this country

Pepper price today October 16, 2024 in the domestic market is stable in some key localities, trading from 143,000 - 144,000 VND/kg.

Pepper price today October 16, 2024: Market is quiet, Vietnam sharply reduces imports from this country. (Source: SAM Agritech)

Pepper price today October 16, 2024 in the domestic market is stable in some key localities, trading from 143,000 - 144,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (143,000 VND/kg); Dak Lak (144,000 VND/kg); Dak Nong (144,000 VND/kg); Ba Ria - Vung Tau (143,500 VND/kg) and Binh Phuoc (143,500 VND/kg).

Thus, after a day of sideways movement, domestic pepper prices today remained stable in some localities in the Central Highlands while decreasing slightly in the Southeast region, by 500 VND/kg. The highest pepper price was at 144,000 VND/kg.

Ptexim Company assessed that the market continues to be sluggish due to low demand in most key markets such as the US, China, the European Union (EU), and the Middle East. Tensions in the Middle East are still ongoing, limiting import demand.

According to data from the Brazilian State Center for Foreign Trade Statistics (Comex Stat), in September, Brazil's pepper exports reached 3,667 tons, worth 22.1 million USD, down 0.5% in volume and up 17.8% in value compared to the previous month, and down 28.6% in volume but up 13.5% in value compared to the same period last year.

Accumulated in the first 9 months of the year, Brazil's pepper exports reached 49,366 tons with a value of 206.4 million USD, compared to the same period last year, the export volume decreased by 15.3% compared to the same period last year, but the export value increased by 15.8% due to high prices.

On average, in the first 9 months of the year, Brazil's pepper export price reached 4,182 USD/ton, up 36.7% over the same period.

Brazil's main pepper export markets in the first 9 months of the year were Vietnam, the United Arab Emirates (UAE), Pakistan, India...

Of which, exports to Vietnam - the largest customer of the Brazilian pepper industry reached 6,925 tons, down 41.9% compared to the same period last year and accounting for 14% of the market share. The average price of pepper imported from Brazil to Vietnam reached 3,675 USD/ton, up 22.1% compared to the same period last year and the lowest among the top 20 pepper import markets of this country.

In contrast, Brazil's pepper exports to the UAE, Pakistan and India increased sharply by 11.4%, 19.7% and 30.1%, reaching 6,089 tons, 5,434 tons and 5,368 tons, respectively. Notably, Brazil's pepper exports to the US market increased by 12.5 times, reaching 2,502 tons.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,744 USD/ton, up 0.18%; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton.

Muntok white pepper price is 9,233 USD/ton, up 2.5%; Malaysian ASTA white pepper price is at 11,200 USD/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,850 USD/ton. IPC continues to adjust pepper price in Indonesia, especially white pepper increased by 200 USD/ton.

Source: https://baoquocte.vn/gia-tieu-hom-nay-16102024-thi-truong-tram-lang-viet-nam-giam-manh-nhap-khau-tu-quoc-gia-nay-290155.html