Pepper Market October 14, 2024: China increases pepper imports from Indonesia, reduces purchases from Vietnam
In the domestic market
See more: Pepper price today October 13
Pepper price today, the first day of the week, is stable at 143,000 - 145,500 VND/kg.
Accordingly, traders in Gia Lai continue to buy pepper at the lowest price of 143,000 VND/kg.
Higher at 144,000 VND/kg include Dak Lak, Dak Nong and Binh Phuoc.
The highest current pepper trading price is 145,500 VND/kg, recorded in the two provinces of Ba Ria - Vung Tau and Dong Nai.
In the world market
According to an update from the International Pepper Community (IPC), in the most recent trading session, the price of Indonesian Lampung black pepper was listed at 6,732 USD/ton.
Similarly, the price of Kuching black pepper from Malaysia remained stable at USD 8,700/ton, while Brazilian black pepper ASTA 570 reached USD 6,750/ton.
In Vietnam, the export price of 500 g/l and 550 g/l black pepper fluctuates at 6,500 - 6,800 USD/ton.
At
the same time of survey, the price of Indonesian Muntok white pepper
was offered at 9,002 USD/ton. Meanwhile, the price of Vietnamese and
Malaysian white pepper stood at 9,850 USD/ton and 11,200 USD/ton.
Update pepper information
According to data from the China Customs Administration, the country's pepper imports in August reached 890 tons, worth 5.8 million USD, down 54.7% in volume and 36.8% in value compared to the previous month, but up 23.7% in volume and 80.9% in value compared to the same period last year.
In the first 8 months of the year, China imported 7,484 tons of pepper, worth 36.1 million USD, up 21.9% in volume and 41% in value over the same period in 2023.
The two main pepper supply markets for China in the first 8 months of the year were still Indonesia and Vietnam.
Of which, imports from Indonesia reached the highest with 4,399 tons, a sharp increase of 53.2% over the same period and accounting for 58.8% of the total pepper imported into China.
Next, imports from Vietnam reached 2,329 tons, up 7.2% and accounting for 31.1% of the market's import capacity.
In total, Indonesia and Vietnam account for 90% of China's pepper import market share.
However, the data from the Chinese Customs Administration mainly covers the amount of pepper imported through official channels. According to the latest data from the Vietnam Pepper and Spice Association, the amount of pepper exported from Vietnam to China in the first 9 months of the year (including official and unofficial channels) reached 8,905 tons, a sharp decrease of 84.1% compared to the same period last year.
In the first eight months of this year, China's pepper import price averaged $4,825 per ton, up 15.7% over the same period last year. Of which, the average import price from Indonesia increased by 10.9% to $4,611 per ton; while the import price from Vietnam increased by 24.1% to $4,708 per ton.
Prices from Indonesia are more competitive, which may be one of the main reasons why the amount of pepper exported from this country to China has increased sharply in recent times.
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