Market information for Vietnamese and Brazilian pepper
Jul
In recent times, price information on the website of the International Pepper Association (IPC) about Vietnamese pepper prices has differed greatly from the information provided by VSPA, and at times there were errors. To avoid psychological fluctuations that lead to making decisions that cause economic damage, we recommend that farmers, agents, export companies, and foreign customers refer to other sources to ensure more objectivity and reliability when deciding to buy/sell. VPSA will try to update information about countries and export prices of Vietnamese Pepper in the most accurate and timely manner.
Data show that by the end of June 2024, Vietnam has exported an estimated 140 thousand tons, with a turnover of 550 million USD, down 8.2% in volume but up 32.2% in value over the same period. 2023. Thus, there are still 7-8 months left until the new harvest (expected after the Lunar New Year from February 2025) while the amount of goods left by people, agents and businesses is not as much as VPSA received. previously determined.
Brazil, by the end of May, had exported 31,846 tons, down 8% over the same period. It is expected that the next harvest will be in August in the Espirito Santos region and in November in the Para region. It is estimated that the whole country will collect about 60 thousand more tons.
According to some farmers in the Espirito Santos region, the harvest in 2024 may be 25-30% lower due to the heat causing most of the first cotton to fall and the ratio of fruit set to buds of the second and second cotton blooms. Phase 3 is quite low so it is expected to only reach about 70% compared to last year. Overall, the whole country in 2024 may decrease by 20-25% compared to 2023.
Some experts believe that signs of supply shortage compared to demand will continue to be recognized and reflected by the market in the coming time until the end of the season.
VPSA
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