Pepper market update 12th August 2024 – Week 32.

 

          •        Last week, the pepper price experienced fluctuations with a range of +/- $200/MT in a single day. After a decline, the pepper price quickly rebounded, with a large volume of transactions recorded in the market.

          •        Demand in various markets has improved, especially in the U.S. and the European Union. China has also started to resume purchases.

          •        By the end of the week, the pepper price decreased from 148,000 VND to 146,000 VND, corresponding to a reduction of 1.3%.

In July 2024, Vietnam exported 21,771 tons of pepper, 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%, turnover decreased by 7.9% and 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.

The United States is still Vietnam's largest export market in the month, accounting for 27.2% reached 5,914 tons, followed by 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.