Pepper Market November 27, 2024: Vietnamese pepper dominates the US market

 

Pepper Market November 27, 2024: Vietnamese pepper dominates the US market

Pepper prices today, November 27, range from 141,000 to 142,000 VND/kg, up 1,000 VND compared to yesterday. Vietnam is the largest pepper supplier to the US market, accounting for 77.8%, reaching 56,820 tons, up 42.9%; followed by India, accounting for 7.8%, reaching 5,699 tons, up 27.5%.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,596 USD/ton, down 0.42%; the price of Brazilian black pepper ASTA 570 at 6,050 USD/ton, up 50 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.

Muntok white pepper price is 9,101 USD/ton, down 0.42%; Malaysian ASTA white pepper price is at 10,500 USD/ton.

Vietnamese black pepper prices are trading at 6,200 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 9,400 USD/ton for white pepper. IPC adjusted down Indonesian pepper prices right after the increase at the beginning of the week.

The International Pepper Community commented that the market last week showed mixed reactions when only domestic black pepper prices in Sri Lanka continued to record increases.

Indian domestic and export pepper prices recorded a decline last week.

As the Indonesian Rupiah depreciated by 1% against the USD (IDR 15,875/USD), both domestic and export pepper prices recorded a decrease last week.

Both domestic and export pepper prices in Malaysia continued to decline since last week, partly due to the impact of the 2% depreciation of the Malaysian Ringgit against the USD (MYR 4.47/USD).

Prices of Brazilian black pepper as well as Chinese white pepper recorded a decrease last week. Meanwhile, prices of Cambodian black pepper were stable.

According to the Vietnam Pepper and Spices Association, in the first 9 months of 2024, the US imported 73,080 tons of pepper, with a total import turnover of 376.4 million USD. Compared to the same period last year, the import volume increased by 43.2% and the turnover increased by 56.1%.

Vietnam is the largest pepper supplier, accounting for 77.8%, reaching 56,820 tons, up 42.9%; followed by India, accounting for 7.8%, reaching 5,699 tons, up 27.5%. Indonesia and Brazil ranked 3rd and 4th, accounting for 7.1% and 4.2%, reaching 5,174 tons and 3,054 tons, up 88.4% and 88.8% over the same period in 2023.

According to KTĐT.vn