Pepper Market September 1, 2024: Domestic and world prices increased last week
Sep
In the domestic market
Pepper prices continued to increase last week from 500 - 2,500 VND/kg in key localities.
Traders in Dak Lak are buying pepper at the highest price of 146,000 VND/kg, an increase of 2,000 VND/kg over the past week.
Pepper prices in Ba Ria - Vung Tau and Binh Phuoc were purchased at 145,500 VND/kg, an increase of 2,500 VND/kg.
In Dak Nong and Dong Nai, prices increased by VND1,500/kg to VND145,500/kg and VND144,500/kg.
The lowest transaction price was recorded in Gia Lai, at 144,000, up 500 VND/kg last week.
|
Province/district (survey area) |
Purchase price on August 31 (Unit: VND/kg) |
Change compared to August 26 (Unit: VND/kg) |
|
Dak Lak |
146,000 |
+2,000 |
|
Gia Lai |
144,000 |
+500 |
|
Dak Nong |
145,500 |
+1,500 |
|
Ba Ria – Vung Tau |
145,500 |
+2,500 |
|
Binh Phuoc |
145,500 |
+2,500 |
|
Dong Nai |
144,500 |
+1,500 |
Source: Hoang Hiep compiled from giatieu.com
On the world market world
According to data from the International Pepper Community (IPC), Vietnam's black pepper export prices increased by 4.8 - 5.2% last week, to 6,100 - 6,500 USD/ton. Meanwhile, Brazilian and Indonesian black pepper prices also increased by 2.4% and 0.5%, respectively.
| Type name | World black pepper price list (Unit: USD/ton) | ||
|
August 26 |
August 31 |
% change |
|
| Lampung Black Pepper (Indonesia) |
7,490 |
7,529 |
+0.5 |
| Brazilian Black Pepper ASTA 570 |
6,300 |
6,450 |
+2.4 |
| Kuching Black Pepper (Malaysia) ASTA |
8,500 |
8,500 |
0 |
| Vietnamese black pepper (500 g/l) |
5,800 |
6,100 |
+5.2 |
| Vietnamese black pepper (500 g/l) |
6,200 |
6,500 |
+4.8 |
At the same time of survey, Indonesian Muntok white pepper price increased slightly by 0.9% last week, while Vietnam's export price increased by 3.5%.
| Type name | World white pepper price list (Unit: USD/ton) | ||
|
August 26 |
August 31 |
% change |
|
| Muntok White Pepper (Indonesia) |
8,818 |
8,5008,865. |
+0.9 |
| ASTA Malaysian White Pepper |
10,400 |
10,400 |
0 |
| Vietnam white pepper |
8,865 |
8,800 |
+3.5 |
According to a recent report from the Import-Export Department ( Ministry of Industry and Trade), world pepper prices are forecast to remain high in the coming time.
“Brazil is currently the second largest producer and exporter of black pepper in the world after Vietnam, accounting for 17-18% of total global supply.
Therefore, the continuous crop failure in this country will have an impact on the market, expected to push global pepper prices up in the last months of 2024 when pepper supply from other major producing countries such as Vietnam, Malaysia, Indonesia, etc. also decreases," the Import-Export Department commented.
Previously, the Vietnam Pepper and Spice Association (VPSA) also said that climate change (La Nina) is expected to affect Brazilian pepper production in the coming months.
According to some farmers in the Espirito Santos region, the harvest in 2024 could be 25-30% lower due to the heat. Overall, the country in 2024 could be down 20-25% compared to 2023.
In Indonesia, the harvest is expected to take place in August (later than usual from July), but the yield is also not promising.
In Vietnam, pepper output in the last crop year also decreased by 10% compared to the previous year, down to 170,000 tons. This is also the lowest level in the past 5 years.
Assessing the recent price drop in the domestic pepper market, VPSA said that although there is not much stock left in the market, purchasing power from European and American markets has decreased, while the Chinese market has not yet recovered its strong purchasing power.
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