Pepper market on August 6, 2024: shocking developments, pepper prices dropped sharply
Aug
Pepper price today, August 6, is in the range of 138,000 - 139,000 VND/kg. The domestic market changed unexpectedly. Exports show no signs of improvement. The amount of pepper exported to China is still low, falling sharply compared to the previous month.
Yesterday session, most assets plummeted, stock exchanges collapsed, USD fell sharply, gold prices fell freely... This development is contrary to the usual rule: When the USD increases, gold decreases and vice versa. . The world stock market just experienced a terrible drop in trading sessions on August 5, which can be said to be the worst in decades.
The above impacts have affected the pepper market in particular and other commodity exchanges in general.
The Vietnam Pepper and Spice Association informed that in July 2024, Vietnam exported 21,771 tons of pepper of all kinds, black pepper reached 19,371 tons, white pepper reached 2,400 tons.
Total export turnover reached 129.9 million USD, black pepper reached 112.2 million USD, white pepper reached 17.7 million USD. Compared to June, export volume decreased by 22.7% and turnover decreased by 7.9%. Compared to the same period in July 2023, export volume increased by 43.7% and turnover increased by 128.9%.
The average export price of black pepper in July reached 5,861 USD/ton, white pepper reached 7,558 USD/ton, an increase of 15.7% for black pepper and 9.2% for white pepper compared to the previous month.
Olam was the leading export enterprise in July reaching 2,689 tons, up 6.9% over the previous month and accounting for 12.4% of export proportion. Next are businesses: Phuc Sinh: 2,441 tons, Nedspice Vietnam: 1,886 tons, Haprosimex JSC: 1,787 tons and Simexco Dak Lak: 1,714 tons...
The US is still Vietnam's largest export market in the month, accounting for 27.2% reaching 5,914 tons, followed by the following markets: UAE: 2,509 tons, Germany: 1,415 tons, Netherlands: 940 tons, France: 936 tons . Exports to China only reached 606 tons, down 76.5% compared to June.
In the past 7 months, Vietnam has exported 164,357 tons of pepper of all kinds, of which black pepper reached 145,330 tons and white pepper reached 19,027 tons. Total export turnover reached 764.2 million USD, black pepper reached 652.0 million USD, white pepper reached 112.2 million USD.
Compared to the same period in 2023, export volume decreased by 2.2%, but export turnover increased by 40.8%. 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 25.0% 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 following 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.
Leading pepper exporters include: Olam Vietnam: 15,967 tons, an increase of 56.3%; Phuc Sinh: 13,780 tons, up 50.9%; Nedspice Vietnam: 12,235 tons, up 14.5%; Haprosimex JSC: 11,841 tons, up 68.3% and Pearl: 10,039 tons, down 9.3%...
Some businesses have impressive export volumes such as Simexco Dak Lak: 8,229 tons, an increase of 227.1%; Sinh Loc Phat increased by 144.5%; Ottogi Vietnam increased by 138.2%; Imtex Vietnam increased by 136.5%; Hanfimex increased by 121.3%; Intimex Group increased by 115.2%…
According to KTĐT.vn
Posts
No comments:
Post a Comment