Pepper market update 2nd Sept 2024 – Week 35.

 

We would like to send you a quick highlight

 

• Last week, the price of pepper gradually recovered, increasing from 148,000 VND to 156,000 VND, corresponding to a 5,4% increase.

• The strong demand from the Chinese and Middle Eastern markets has led to a rapid increase in pepper prices recently.

 

In the first seven months of 2024, China’s imports of Vietnamese pepper amounted to only 8,059 tons (compared to the usual annual imports of 50,000-57,000 tons from Vietnam, excluding the Covid years). However, last week, demand from China has returned with immediate orders for large quantities ranging from 3,000 to 4,000 tons. It seems that China’s inventory has significantly decreased after a long period of minimal purchases, necessitating large purchases to compensate for the shortage of raw materials as global pepper production is expected to continue declining over the next few years.

 

The domestic pepper market in China also recorded a rapid increase, rising from 47 RMB to 51 RMB within just two days, corresponding to an increase of 8.5% in a very short period.

 

Additionally, there is also strong demand from the Middle Eastern market for immediate orders after selling off the cheaper stock imported earlier this year, making the pepper market more dynamic.

 

Please see the REPORT FILE & FULL QUOTATION LIST by click to download.

 

https://drive.google.com/file/d/1MrPT0olI4RDZwUTuZeGAWKLWqYKStr7U/view?usp=sharing