Pepper Market on December 12, 2024

 

Pepper Market on December 12, 20224: Price unexpectedly dropped by 2,000 VND

Pepper prices today (December 12) unexpectedly dropped by 2,000 VND. In the international market, pepper prices from Brazil and Indonesia both dropped. The US spent 409.16 million USD to buy pepper in the first 10 months of the year, mainly imported from Vietnam.

 

In the world market

According to an update from the International Pepper Association (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper continued to decrease slightly by 0.19% (13 USD/ton) compared to the previous trading session, down to 6,822 USD/ton.

Similarly, the price of Brazilian black pepper ASTA 570 also decreased by 0.4% (25 USD/ton), down to 6,250 USD/ton.

Meanwhile, the price of Kuching black pepper from Malaysia remained stable at USD 8,200/ton. The  export  price of 500 g/l and 550 g/l black pepper  from Vietnam was around USD 6,300 – 6,600/ton.

At the same time of survey, the price of Indonesian Muntok white pepper decreased by 0.2% (18 USD/ton), down to 9,115 USD/ton.

Meanwhile, Vietnamese white pepper and Malaysian ASTA white pepper remained unchanged at USD 9,400/ton and USD 10,400/ton.

 

Update pepper information

Figures from the US International Trade Commission (USITC) show that in October, the US imported  7,211   tons of pepper of all kinds from the world, down 26.4% compared to the previous month but up 21% compared to the same period last year.

Accumulated from the beginning of the year to the end of October, pepper imports of the world's leading consumer country reached 80,298 tons, worth 409.16 million USD, up 40.9% in volume and 56.6% in value over the same period last year.

Of which, Vietnam continues to be the largest pepper supplier to this market, accounting for 77.4% of total pepper imports into the US with a volume of 62,158 tons, worth 314.4 million USD, up 40.7% in volume and 62.5% in value over the same period last year.

In addition, the amount of pepper imported by the US from other leading supplying markets also increased in the first 10 months of the year, such as: India reached 6,359 tons, up 25% and accounting for 7.9% of the market share; Indonesia reached 6,046 tons, up 90.3% and accounting for 7.5%; Brazil reached 3,178 tons, up 73.8% and accounting for 4%...

US pepper imports have rebounded sharply after two consecutive years of decline due to cooling  inflation   and loose monetary policy, leading to a recovery in demand.

In addition, importers also increased their stockpiles due to concerns about changes in economic policies after the US presidential election.

US President-elect Donald Trump plans to raise import taxes and cut taxes on individuals and businesses – as he did in his previous term. During his campaign, Trump vowed to impose a 10-20% import tax on all goods entering the US. The figure for China alone is 60-100%.

Currently, US importers are stepping up imports of goods before Mr. Donald Trump returns to the White House.

According to VietnamBiz.vn

 

Pepper Market on December 3, 2024

 

Pepper Market on December 3, 2024: Shocking price drop in all provinces

Pepper prices today, December 3, are around 142,000 - 143,000 VND/kg, down sharply by 4,000 - 5,000 VND in key pepper growing provinces. IPC adjusted the price of Indonesian pepper in opposite directions while it decreased in Malaysia. It is estimated that pepper exports could reach 1.4 billion USD this year. This is a new record for the industry.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,679 USD/ton, up 0.78%; the price of Brazilian black pepper ASTA 570 at 6,150 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,300 USD/ton, down 1.2%.

Muntok white pepper price is 9,115 USD/ton, down 0.31%; Malaysian ASTA white pepper price is at 10,500 USD/ton.

Vietnam black pepper price is traded at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price is at 9,400 USD/ton. IPC adjusted the price of Indonesian pepper in the opposite direction while it decreased in Malaysia.

Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA), estimated that Vietnam's pepper exports could reach 1.4 billion USD this year. This is a new record for the industry. The result is that recently, pepper prices have been in an increasing cycle and are currently maintaining a level nearly double that of previous years.

Currently, the country has more than 115,000 hectares of pepper and spice crops, mostly concentrated in the South Central Coast - Central Highlands region with more than 75,300 hectares. The pepper industry is facing many challenges. Among them are climate change, shrinking area, investment costs in irrigation and disease prevention to maintain productivity... which have a significant impact on competitiveness.

Currently, according to experts, pepper prices have passed the decline cycle and are starting an increase cycle due to a decrease in supply. However, due to the low purchasing pressure at the beginning of the season, farmers should not be too eager to sell pepper early, especially should not borrow capital to store pepper to avoid risks due to market fluctuations.

According to VietnamBiz.vn