Pepper market on August 12, 2024

 

Pepper market on August 12, 2024: Prices dropped sharply at the beginning of the week

Posted onAugust 12, 2024by VPA

12
Aug

Pepper price today August 12 is in the range of 137,000-138,000 VND/kg, a sharp decrease of 3,000-4,000 VND compared to last weekend.

The average export price of black pepper in 7 months reached 4,568 USD/ton, white pepper reached 6,195 USD/ton, up 32.7% for black pepper and 25% for white pepper respectively compared to the same period last year.

The US is Vietnam's largest pepper export market in 7 months, increasing by 48.4% and accounting for 26.4% of the market share reaching 43,349 tons. Next are the markets: Germany: 10,941 tons, up 97.3%; UAE: 10,897 tons, up 39.2%; India: 8,744 tons, up 39.7%; China ranked fourth with 8,059 tons, down 84.6% over the same period.

Regarding the Chinese market, experts say that it is possible that due to the strong increase in purchases last year and full warehouses, demand in the Chinese market will decrease this year, adding that the economy in China is still difficult. .

Regarding the upward momentum, experts added that for prices to increase, there must be a push from the market and there must be demand. The US and Europe account for nearly 50% of Vietnam's exports and have bought very strongly in the first 6 months of the year. In the last months of the year, if these two markets do not buy much, it may be difficult for prices to increase strongly again as before. This week's market is forecast to recover after falling sharply last week.

Indonesia and Brazil will enter the season, followed by Vietnam. Supply will increase rapidly in the last months of the year. Although it is forecast that in some places the output will not be as high as estimated, or the world supply is still not enough to meet demand, overall pepper prices in the medium term are unlikely to increase strongly.

Last weekend, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,320 USD/ton, an increase of 0.23%; Brazilian black pepper price ASTA 570 was at 6,100 USD/ton, down 4.92%; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,970 USD/ton, up 0.25%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC continues to increase pepper prices in Indonesia and decrease sharply in Brazil.

According to KTĐT.vn