Slowing exports, capital flows gradually shift to coffee, pushing domestic pepper prices down continuously

Pepper prices today, October 14, 2024, in the domestic market plummeted in some key localities, trading from 143,000 - 144,000 VND/kg.

Pepper price today October 14, 2024: Exports slow down, capital flows gradually shift to coffee, pushing domestic pepper prices down continuously. (Source: Public Goods Blog)

Pepper prices today, October 14, 2024, in the domestic market plummeted 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 (144,000 VND/kg) and Binh Phuoc (144,000 VND/kg).

Thus, continuing yesterday's decline, domestic pepper prices today plummeted in some key growing areas, down 1,000 - 2,000 VND/kg. The highest pepper price was at 144,000 VND/kg. This is the third consecutive day of decline in the domestic pepper price market.

Last week, the Vietnam Pepper and Spice Association (VPSA) announced information on pepper exports in September and the first 9 months of 2024. Accordingly, in September 2024, Vietnam exported 17,138 tons of pepper of all kinds, of which black pepper reached 15,232 tons and white pepper reached 1,906 tons. Total export turnover reached 109.8 million USD, black pepper reached 94.8 million USD, white pepper reached 15.0 million USD.

The Association's data is lower than the General Department of Customs' information from the beginning of the month, causing pepper exports in the past 9 months to not reach the billion USD mark.

The report shows that slowing exports and capital flows gradually shifting to coffee are pushing domestic pepper prices down continuously.

Earlier, Marcellus Giovanni, CEO of Brazspice Spices International, said that many agricultural companies, agents and intermediaries in Vietnam are actively selling black pepper. This activity is mainly driven by liquidity needs, as sellers seek to raise capital to invest in coffee, an agricultural product that is in the harvest season.

Coffee prices are high due to reduced production and increased global demand, making coffee the more profitable option at the moment.

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 6,732 USD/ton, up 0.31%; 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, down 100 USD/ton.

Muntok white pepper price is 9,002 USD/ton, up 0.31%; 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 has adjusted up pepper price in Indonesia while reducing Kuching black pepper (Malaysia).

This unit commented that the pepper market in the second week of October had many mixed reactions.

Source: https://baoquocte.vn/gia-tieu-hom-nay-14102024-xuat-khau-cham-lai-dong-von-dan-chuyen-dich-sang-ca-phe-day-gia-tieu-noi-dia-lien-tiep-giam-289973.html