Exports are under pressure, the amount of goods available to the people is almost gone, maintenance and production are increasingly competitive.

Pepper price today October 12, 2024 in the domestic market decreased in some key localities, trading from 146,000 - 147,000 VND/kg.

Pepper price today October 12, 2024: Pepper exports are under pressure, the amount of goods in the population is almost gone, maintenance and production are increasingly competitive. (Source: Times of India)

Pepper price today October 12, 2024 in the domestic market decreased in some key localities, trading from 146,000 - 147,000 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 (147,000 VND/kg); Dak Nong (147,000 VND/kg); Ba Ria - Vung Tau (146,500 VND/kg) and Binh Phuoc (145,000 VND/kg).

Thus, after only one session of increase, domestic pepper prices today turned to decrease slightly in some key growing areas, down 1,000 VND/kg. The highest pepper price reached 147,000 VND/kg.

Although pepper prices have shown signs of a slight decrease, they are still very high compared to previous years, double the price of 67,000 VND/kg at the same time last year.

Experts say that in the long term, pepper export prices will still be supported, as Vietnam's output of this commodity in the 2025 crop is expected to decrease. The 2025 pepper crop in Vietnam will be harvested almost entirely in February, with some regions extending to March and April, 1-2 months later than previous years due to the impact of prolonged drought, making pepper supply increasingly difficult.

According to the Vietnam Pepper and Spice Association (VPSA), the amount of pepper in the population is almost gone, only remaining in agents and warehouses of enterprises. The inventory of the 2023 crop carried over plus the import volume in 2024 is about 40,000 - 45,000 tons (including unofficial imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.

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 6,711 USD/ton, down 0.33%; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.

Muntok white pepper price is 8,974 USD/ton, down 0.32%; Malaysian ASTA white pepper price is at 11,200 USD/ton.

Vietnam's black pepper price is trading 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 has adjusted down 300 USD/ton for Vietnam's black and white pepper export prices.

After many weeks of stable pepper export prices in the world market, Vietnam suddenly turned around and dropped sharply. This shows that world pepper prices are facing many challenges.

In 2024, Indonesia and India are both expected to increase production by 5-6% compared to the previous year. The abundant supply of pepper in the market may continue to put downward pressure on prices.

In addition, China's economy in 2024 faced many challenges, including slow growth, falling consumer demand and difficulties in foreign exchange reserves. Businesses prioritized essential goods over items such as pepper.

Vietnam's traditional markets have imported large amounts of pepper in the past 9 months and are in no hurry to buy more, waiting for the market.

Source: https://baoquocte.vn/gia-tieu-hom-nay-12102024-tieu-xuat-khau-gap-ap-luc-luong-hang-trong-dan-gan-nhu-khong-con-viec-duy-tri-va-san-xuat-ngay-cang-bi-canh-tranh-289755.html