PEPPERTRADE SPICES BOARD BLOG #Pepper #Spices

 

Pepper Market November 23, 2024: Price increased slightly back to 140,000 VND/kg

Posted onNovember 23, 2024by VPA

23
Nov

Pepper prices today (November 23) increased slightly by VND1,000 and returned to VND140,000/kg. Vietnam's pepper export activities are slowing down but export prices continue to increase and reach new peaks.

In the world market

In the world market, pepper prices continue to move sideways across the board.

The International Pepper Community (IPC) is listing the price of Indonesian Lampung black pepper at $6,470/ton, Brazilian ASTA 570 black pepper at $6,000/ton, and Malaysian Kuching black pepper at $8,400/ton.

 The export  price of 500 g/l and 550 g/l black pepper  from Vietnam fluctuates between 6,200 - 6,500 USD/ton.

At the same time of survey, the price of Indonesian Muntok white pepper reached 9,055 USD/ton. Meanwhile, Vietnamese white pepper and Malaysian white pepper stood at higher levels of 9,400 USD/ton and 10,500 USD/ton.

Update pepper information

Vietnam's pepper exports are slowing down, a sign that domestic supply is running low.

According to the General Department of Customs, Vietnam's pepper exports in the first 15 days of November only reached 7,642 tons, worth 52.4 million USD, down 9.9% in volume and 5% in value compared to the first half of October, and down 18.8% in volume compared to the same period last year but still up 44.3% in value.

Accumulated from the beginning of the year to November 15, pepper exports reached 226,366 tons, worth 1.16 billion USD, down 3.6% in volume but up 46.9% in value over the same period thanks to high prices.

Since the beginning of the year, Vietnam's pepper export price has increased by 52.3% over the same period last year, reaching an average of 5,137 USD/ton.

In the first half of November alone, the export price of this item reached 6,856 USD/ton, up 4.7% compared to October and up 77.6% compared to the same period last year. This is also the highest price recorded since January 2017.

Not only Vietnam, the pepper export volume of Brazil - the world's second largest pepper producer and supplier - also recorded a decrease of 19.3% in the first 10 months of the year, reaching only 52,988 tons.

However, in return, pepper exports from Indonesia and India increased sharply at double-digit rates.

Regarding consumption demand, since the beginning of the year, pepper  imports   from major markets such as the US, EU, Middle East, and Asia have all increased compared to last year, while the Chinese market has decreased sharply.

According to VietnamBiz.vn