Continuing the sharp decline, Vietnamese companies account for 8% of global market share, world market reacts mixedly

Pepper prices today, August 18, 2024, in the domestic market continued to decrease in key localities, trading from 136,000 - 137,000 VND/kg.

Pepper price today August 18, 2024: Continuing the sharp decline, Vietnamese companies account for 8% of global market share, world market reacts in mixed ways. (Source: Food and Wine)

Pepper prices today, August 18, 2024, in the domestic market continued to decrease in key localities, trading from 136,000 - 137,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 136,500 VND/kg.

Pepper prices today in the provinces of Dong Nai (136,000 VND/kg); Dak Lak (137,000 VND/kg); Dak Nong (136,500 VND/kg); Ba Ria - Vung Tau (136,000 VND/kg) and Binh Phuoc (136,000 VND/kg).

Thus, continuing yesterday's decline, domestic pepper prices today fell sharply in key localities, by 2,000 - 2,500 VND/kg. The highest pepper price was at 137,000 VND/kg.

Pepper export value this year has increased significantly. The whole industry is expected to reach 1 billion USD in export turnover this year. In the first 7 months of the year, Phuc Sinh, Vietnam's leading pepper exporter, continued to maintain 8% of the global market share, of which the US is the main market.

Amid the good growth of the pepper industry, the company's total export volume increased by 40%. The average export price doubled compared to the same period last year.

Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Joint Stock Company said: "The increase in pepper price from 87,000 VND to 187,000 VND is an increase of more than 100%, not an increase of 30-40%, that is a good signal for Vietnam's agricultural sector, not only coffee and pepper but also many other products".

According to the Commodity Exchange, domestic pepper prices are recorded at VND140,000/kg, 1.75 times higher than at the beginning of this year. At its peak, pepper prices reached VND158,000/kg. The reason is that pepper supply is scarce this year.

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 7,412 USD/ton, down 0.19%; the price of Brazilian black pepper ASTA 570 at 6,175 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,728 USD/ton, down 0.18%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l; 550 g/l at 6,200 USD/ton; white pepper price at 8,500 USD/ton. IPC adjusted down pepper price in Indonesia at the weekend.

IPC commented that the pepper market continued to have mixed reactions this week. After being reported with an upward trend in the past 2 weeks, domestic and international Indian pepper prices were stable this week. Only Indonesian black pepper continued to be recorded to increase since last week.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1882024-tiep-da-giam-manh-cong-ty-viet-chiem-8-thi-phan-toan-cau-thi-truong-the-gioi-phan-ung-trai-chieu-282941.html