Pepper Market September 25, 2024: Price continues to decrease
Pepper price today, September 25, continued to decrease by 2,000-3,000 VND compared to yesterday, averaging at 149,000-150,000 VND/kg.
In the domestic market
In the world market
According to an update from the International Pepper Community (IPC), at the end of the most recent trading session, world black pepper prices fluctuated between suppliers.
In Indonesia, Lampung black pepper price increased slightly by 3 USD/ton, to 6,920 USD/ton.
In contrast, Brazilian black ASTA 570 fell 2.2% ($150/ton) from the previous day to just $6,750/ton. This is also the lowest price on the market today.
Vietnam’s export prices of 500g/l and 550g/l black pepper remained stable at US$6,800 – 7,100/ton. Similarly, Kuching Malaysia black pepper was traded at the highest level of US$8,800/ton.
|
Type name |
World black pepper price list |
|
|
September 24 (Unit: USD/ton) |
% change from previous day |
|
| Lampung Black Pepper (Indonesia) |
6,920 |
+0.04 |
| Brazilian Black Pepper ASTA 570 |
6,750 |
-2.22 |
| Kuching Black Pepper (Malaysia) ASTA |
8,800 |
0 |
| Vietnamese black pepper (500 g/l) |
6,800 |
0 |
| Vietnamese black pepper (500 g/l) |
7,100 |
0 |
At the same time of survey, the price of Indonesian Muntok white pepper increased slightly by 3 USD/ton, to 9,400 USD/ton.
Meanwhile, the price of Malaysian ASTA white pepper and Vietnamese white pepper remained unchanged at 11,200 and 10,150 USD/ton.
| Type name | World white pepper price list | |
| September 24 (Unit: USD/ton) | % change from previous day | |
| Muntok Indonesian White Pepper | 9,400 | +0.03 |
| ASTA Malaysian White Pepper | 11,200 | 0 |
| Vietnam white pepper | 10,150 | 0 |
The Import-Export Department (Ministry of Industry and Trade) forecasts that world pepper prices will remain high in the short term due to limited supply. Brazil and Indonesia are in the harvest season, while world demand is not increasing strongly, along with China not buying much, leading to only a slight increase in prices.
In the long term, pepper export prices will remain supported due to the expected decrease in Vietnam's pepper output in the 2025 crop. Vietnam's pepper crop in 2025 is expected to be harvested almost entirely in February, with some regions extending to March and April, 1-2 months later than previous years, due to the impact of prolonged drought, making pepper supply increasingly difficult.
At the same time, the Import-Export Department forecasts that the Vietnamese pepper industry will benefit from high export prices due to limited supply. According to the Vietnam Pepper and Spice Association (VPSA), the amount of pepper in the population is almost gone, only remaining in agents and warehouses of enterprises.
The inventory from the 2023 crop carried over, plus the import volume in 2024, is about 40,000 - 45,000 tons (including informal imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.
Figures from the General Department of Customs show that in the first 8 months of the year, Vietnam's pepper exports reached 182.93 thousand tons, worth 877.98 million USD, down 2.7% in volume, but up 42.8% in value over the same period in 2023 thanks to high prices.
According to VietnamBiz.vn
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