Pepper market on May 18, 2024: this week, Indian and Cambodian pepper prices go against other countries
May
Pepper price today May 18 is in the range of 110,000 - 111,000 VND/kg. After 2 days of very strong increases, domestic pepper prices adjusted slightly at the end of the week. IPC said that this week's pepper market had mixed reactions, with India and Cambodia reporting decreases.
In Dak Lak province, today's pepper price was purchased at 111,000 VND/kg.
In Dak Nong province, today's pepper price was purchased at 111,000 VND/kg.
In Gia Lai province, today's pepper price is 110,000 VND/kg.
Meanwhile in Dong Nai, today's pepper price is at 110,000 VND/kg.
In Ba Ria - Vung Tau province, pepper price today is at 111,000 VND/kg.
In Binh Phuoc province, today's pepper price is purchased at 111,000 VND/kg.
At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 4,934 USD/ton, down 0.2%; Brazilian black pepper price ASTA 570 is at 5,000 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.
Muntok white pepper price was 6,488 USD/ton, down 0.22%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.
Vietnam black pepper price is trading at 4,900 USD/ton with 500 g/l type, 550 g/l type at 5,200 USD/ton; White pepper price is at 7,100 USD/ton.
IPC said that this week's pepper market had mixed reactions, with India and Cambodia reporting decreases. After increasing over the past 4 weeks, both domestic and international Indian pepper prices are on a downward trend this week.
In the latest monthly report, the Vietnam Pepper and Spice Association said that exports in the first months of 2024 have changed significantly, while Vietnam and Brazil decreased, India and Indonesia were the 2 countries have increased exports.
The reason is said to be that output in Vietnam decreased, while in Brazil it was forecast to increase at the end of the year, but the impact of climate change has made this country's output not as expected, leading to insufficient supply.
Export pepper prices in the first 3 months of 2024 fluctuated in opposite directions. Most countries recorded an increase in pepper prices, while Indian pepper prices decreased. Malaysian pepper prices are trading stably. Compared to the fourth quarter of 2023 and the first quarter of 2024, the average export price of pepper increased in Brazil and Vietnam, stabilized in Malaysia, and decreased in Indonesia and India.
In 2023, the US will import 69 thousand tons of pepper, compared to 2022, the import volume will decrease by 21.2%. 77.2% of US pepper imports come from Vietnam, followed by India (9.4%), Indonesia (5.3%) and Brazil (3.4%). In the first 2 months of 2024, the United States imported 14,102 tons, an increase of 21.4% over the same period, of which Vietnam is the largest supplier accounting for 78.8%, followed by India accounting for 7.4%, Indonesia accounts for 6.5% and Brazil accounts for 4.6%.
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