Pepper Market September 29 - Vietnam reduces pepper imports from Brazil

 

Pepper Market September 29

Posted onSeptember 29, 2024by VPA

September 29

Although it increased again on the weekend, overall over the past week, pepper prices still decreased by about 1,000 - 3,500 VND. Statistics also show that Vietnam's pepper imports from Brazil have dropped sharply to the lowest level in many months.

Vietnam reduces pepper  imports   from Brazil

In a recent report, Nedspice said that Brazil’s main harvest has begun in the states of Para and Espírito Santo. Exports in July and August were down more than 20% year-on-year, as the May-June harvest in Espírito Santo was severely affected by harsh weather conditions at the start of the year.

According to data from the Brazilian State Center for Foreign Trade Statistics (Comex Stat), Brazil exported 45,699 tons of pepper in the first eight months of the year, worth $183.4 million. Although the volume decreased by 10.4%, the value increased by 19.3% compared to the same period in 2023.

Brazil's main pepper export markets in the first 8 months of the year include: Vietnam, UAE, Pakistan, India, Senegal...

Notably, exports to Vietnam - Brazil's largest pepper consumer market - in August fell sharply to the lowest level in many months, reaching only 243 tons, down 48.5% compared to the previous month and down 76.3% compared to the same period last year.

In the first eight months of the year, Vietnam imported 6,625 tons of pepper from Brazil worth US$23.5 million, down 30.2% in volume and 16.4% in value compared to the same period last year. Vietnam's market share in Brazil's total pepper exports also decreased from 18.6% to 14.5% after the first eight months of the year.

Vietnam's pepper import price from Brazil in the first 8 months of the year increased by 19.7%, reaching an average of 3,548 USD/ton. However, this is the lowest price among the top 16 pepper importing countries from Brazil, respectively 300 USD to more than 600 USD/ton lower than other markets.

In the first 8 months of the year, Brazil's pepper exports to some other markets also decreased, such as Senegal down 11.8%, Morocco down 15.6%, Egypt down 44.4%, the Netherlands down 30.9%...

In contrast, exports to the UAE increased by 7% during the same period, reaching 5,123 tons and accounting for 11.2% of the market share; Pakistan: 5,055 tons, up 46.2% and accounting for 11.1%; India: 4,944 tons, up 31.9% and accounting for 10.8%; especially exports to the US increased by 10.5 times and reached 2,102 tons...

According to VietnamBiz.vn