Pepper market on July 24, 2024

 

Pepper market on July 24, 2024: Price dropped back to 147,000 VND/kg

Posted onJuly 24, 2024by VPA

24
Jul

Pepper price today 24/7 is in the range of 147,000 - 148,000 VND/kg, down 1,000-2,000 VND compared to yesterday. Indonesia harvests pepper in July with expected good output. While production estimates are good, they may not have much of an impact on prices as speculators have tried to buy up all available material.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,191 USD/ton; Brazilian black pepper price ASTA 570 is at 7,125 USD/ton; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price 9,157 USD/ton; Malaysian ASTA white pepper price is at 8,800 USD/ton.

The price of Vietnamese black pepper is trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton. IPC continues to maintain pepper prices in other countries.

In the latest weekly report, IPC stated that Chinese white pepper prices recorded an increase. Prices increased sharply in the past month in Hainan, China due to expected low output and domestic speculation.

According to surveys, in recent years, the pepper growing area on Hainan Island - China has been about 330,000 mu (Chinese measurement unit, 1 mu = 666.7 m2), accounting for more than 90% of the total planted area. target of this country.

Although it is China's main pepper production area, Hainan Island is not the main import-export trade area, pepper trading activities are mainly carried out in Yulin - Guangxi and Bozhou - An. Huy.

This year in China's main pepper production area, crop failure is also worrying, and speculation is also hoarding goods. Since the beginning of the year, the amount of pepper exported from Vietnam to this market has decreased sharply. According to data, China still imports about 50,000 thousand tons of pepper from Vietnam every year.

According to experts, perhaps China and European traders are waiting for information and new releases from the harvest in Indonesia. If the crop in this Southeast Asian country is less favorable, low output and prolonged domestic speculation in China will force them to increase imports of Vietnamese pepper again. This will be the year-end growth driver for Vietnamese pepper.

According to the Center for Industry and Trade Information (Ministry of Industry and Trade), Indonesia harvested pepper in July with expected good yields in most key growing areas. Scattered rains during the growing stage are beneficial for pepper fruit formation. While production estimates are good, they may not have much of an impact on prices as speculators have tried to buy up all available material.

According to KTĐT.vn