Continue to rise strongly and anchor at high levels?

Pepper prices are forecast to skyrocket on September 7, 2024. According to preliminary statistics from the Vietnam Pepper and Spice Association (VPSA), in August 2024, Vietnam exported 19,399 tons of pepper of all kinds, of which black pepper reached 17,391 tons and white pepper reached 2,008 tons.

Total pepper export turnover reached 117.0 million USD, of which black pepper reached 102.0 million USD, white pepper reached 15.0 million USD, compared to the previous month, export volume decreased by 10.9%, turnover decreased by 9.9% and compared to August 2023, export volume decreased by 1.1% but turnover increased by 59.4%.

The average export price of black pepper in August reached 5,891 USD/ton, white pepper reached 7,462 USD/ton, an increase of 30 USD for black pepper but a decrease of 96 USD for white pepper compared to the previous month.

Pepper price forecast September 7, 2024: Continue to increase strongly and stay at a high level?

In the domestic market, pepper prices today, September 6, 2024, in the Southeast region turned down sharply by 2,500 - 3,000 VND/kg compared to yesterday, trading around 149,500 - 150,000 VND/kg, the highest purchase price in the provinces of Ba Ria - Vung Tau, Dak Lak, Binh Phuoc, Dak Nong is 150,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 150,000 VND/kg, down 3,000 VND/kg compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 149,500 VND/kg, down 2,500 VND/kg compared to yesterday. The price of Dak Nong pepper today was down to 150,000 VND/kg, down 3,000 VND/kg compared to yesterday.

In Binh Phuoc, pepper price today dropped to 150,000 VND/kg, down 3,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it dropped to 150,000 VND/kg, down 2,500 VND/kg compared to yesterday.

At world pepper prices, updated world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,521 USD/ton, and the price of Muntok white pepper at 8,855 USD/ton.

Brazilian ASTA 570 black pepper price is at USD 7,500/ton. Malaysian ASTA black pepper price continues to stand firm at USD 8,500/ton; the price of ASTA white pepper of this country reaches USD 10,400/ton.

Vietnam's black pepper price is stable at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton.

According to businesses, pepper prices have decreased in the past few months after reaching a peak, mainly due to seasonal factors and the export situation and delivery time of businesses. However, in the past week, pepper prices have had a strong recovery due to high demand from the Chinese and Middle Eastern markets, in the context of limited supply.

In the first 7 months of 2024, China's imports of Vietnamese pepper only reached 8,059 tons (compared to the normal annual import level of 50,000-57,000 tons from Vietnam, excluding Covid years).

Last week, demand from China returned with immediate orders of 3,000-4,000 tonnes, to make up for the raw material shortage as global pepper production is expected to continue to decline over the next few years. The Middle East market also saw a relatively large demand for orders, soon after selling off cheaper imported stocks earlier this year, making the pepper market more active.

Indonesia is in the harvest season, followed by Brazil, and Vietnam will enter the harvest season early next year. A report from the Ministry of Agriculture and Rural Development shows that in the first 8 months of 2024, Vietnam exported 185,000 tons of pepper, worth 891 million USD, a slight decrease of 1.4% in output but a sharp increase of 44.9% in value. Therefore, the target of a billion-dollar pepper export industry is within reach.

. *Information is for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-792024-tiep-tuc-tang-manh-va-neo-o-muc-cao-343919.html