Pepper Market October 27, 2024

 

Pepper Market October 27, 2024: Market increased by 1,000 - 1,500 VND last week

Posted onOctober 27, 2024by VPA

October 27

Pepper price today, October 27, fluctuated at 145,000 - 146,000 VND/kg, overall over the past week the domestic market still increased by 1,000 - 1,500 VND.

In the world market

Updated from the International Pepper Community (IPC), in the most recent trading session, the price of Indonesian Lampung black pepper was listed at 6,724 USD/ton, down a total of 1.03% over the past week.

Similarly, Kuching Malaysia black pepper prices decreased by 2.3% to USD 8,500/ton.

Meanwhile, Brazilian black pepper ASTA 570 remained flat last week at $6,400/ton.

Vietnam's 500 g/l and 550 g/l black pepper  for export   is offered at USD 6,500 - 6,800/ton.

Update pepper information

By the end of the third quarter, pepper exports from Vietnam and Brazil – the world’s two leading producing countries – recorded a decrease of 2.8% and 15.3% respectively compared to the same period last year, down to 200,268 tons and 49,366 tons.

In addition to the reduction in output due to unfavorable weather, pepper exports from Vietnam and Brazil are also affected by mixed fluctuations in demand from major consumer markets.

For example, in Vietnam, in the first 9 months of this year, Vietnam's pepper exports to most markets recorded a sharp increase, but China - the largest consumer market last year - decreased sharply by 84.1%, reaching only 8,905 tons.

So far, Chinese demand has been weak, with the country buying only a limited amount of pepper. Some traders say the slowing growth of the Chinese economy could be the reason for this.

However, the high pepper prices since late last year have helped Vietnam and Brazil achieve their best export turnover in many years, while also encouraging farmers to invest in maintaining and expanding their pepper farms.

On average, in the first 9 months of the year, Brazil's pepper export price reached 4,182 USD/ton, up 36.7% over the same period. The average pepper export price increased 49.2% over the same period, to 4,942 USD/ton.

In addition, the decline in export output from Vietnam and Brazil is being offset by strong increases in some other countries, especially Indonesia and India. The aggregated data shows that, by the end of August, Indonesia's pepper export volume increased by 58.6% while India's increased by 36.8%.

According to VietnamBiz.vn