Pepper market on August 3, 2024: the opposite face of pepper prices in Southeast Asian countries
Aug
Pepper price today, August 3, is in the range of 146,000 - 147,000 VND/kg. After decreasing in the past 3 weeks, domestic and international Indian pepper prices both tended to increase this week. Harvests in Brazil and Indonesia are forecast to have lower yields due to unfavorable weather conditions.
At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,176 USD/ton; Brazilian black pepper price ASTA 570 is at 6,750 USD/ton; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.
Muntok white pepper price 8,793 USD/ton; Malaysian ASTA white pepper price is at 10,400 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. During the weekend session, while Vietnam's domestic market decreased, IPC continued to adjust pepper prices in Indonesia and Malaysia.
IPC commented that this week's pepper market continues to have mixed reactions. After decreasing in the past 3 weeks, domestic and international Indian pepper prices both tended to increase this week. Meanwhile, Indonesian black pepper prices have been stable in recent weeks.
Information about crops in different countries, the Vietnam Pepper and Spice Association said that in Brazil, the harvest in the states of Espírito Santo and Bahia has ended with output 10% lower than last year. due to the impact of the El Nino drought phenomenon at the beginning of the year.
Brazil is continuing to harvest in the Espirito Santos region and in November in the Para region. It is estimated that this country will collect about 60 thousand more tons. It is forecasted that climate change (La Nina) will affect the production of Brazilian pepper in the coming months.
Indonesia is expected to harvest in August (slower than usual from July) but the output is not satisfactory. In the first 5 months of 2023, Indonesian pepper exports reached 15,643 tons, an increase of 48.3% over the same period last year. Main export markets include: China accounting for 20.1%; Vietnam accounts for 17.5%; The US accounts for 17.3% and India accounts for 10.3%.
In the first 6 months of 2024, the average FOB price of Indonesian black pepper has increased continuously since February with an increase of 16% compared to the second quarter of 2023 and an increase of 30% compared to the first quarter of 2023. Similarly, the average FOB price of Indonesian white pepper also increased by 9% and 5% compared to the first quarter of 2023 and the second quarter of 2023, respectively.
According to KTĐT.vn
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