Pepper Market September 4, 2024: Prices continue to increase
Sep
Pepper prices today, September 4, are around 152,000 - 153,000 VND/kg. This is the 5th consecutive day of increase in the domestic market. It seems that China's inventory has decreased significantly after a long period of minimal purchases, forcing it to buy in large quantities to compensate.
In the first 7 months of 2024, China's pepper imports from Vietnam reached only 8,059 tons (compared to the normal annual import level of 50,000-57,000 tons from Vietnam, excluding the Covid years). However, last week, demand from China returned with immediate orders in large quantities of 3,000 to 4,000 tons.
China's inventories have fallen significantly after a long period of minimal purchases, forcing it to buy in large quantities to make up for a shortage of raw materials as global pepper output is expected to continue to decline over the next few years.
In addition, there is also strong demand from the Middle East market for orders immediately after selling out cheaper imported stocks earlier this year, making the pepper market more vibrant.
Brazil, the world's second-largest producer and exporter of black pepper, has suffered a crop failure, sending global prices soaring for the remainder of 2024. Pepper supply will lag demand over the next three to five years.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,488 USD/ton, down 0.13%; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 8,817 USD/ton, down 0.14%; Malaysian ASTA white pepper price is at 10,400 USD/ton.
Vietnamese black pepper prices are trading at 6,100 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 8,800 USD/ton for white pepper. IPC continues to reduce Indonesian pepper prices for the third consecutive day.
According to KTĐT.vn
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