The upward trend will continue, will pepper prices recover as in early August?

Pepper prices are forecast to continue to increase sharply on September 1, 2024. As of the first half of August 2024, Vietnam's pepper exports reached about 175,000 tons, officially surpassing the output of 170,000 tons of this year's harvest. If the reserves run out, there will be a severe shortage of pepper, meaning that a shortage of supply in the future is almost certain.

Regarding pepper prices next week, experts expect the upward trend to continue. During the National Day holiday, buying pressure has helped pepper prices recover to the level of early August 2024.

Preliminary statistics from the Vietnam Pepper and Spice Association (VPSA) show that Vietnam imported 1,855 tons of pepper in July, of which black pepper reached 1,086 tons and white pepper reached 769 tons, down 4.9% compared to the previous month. From the beginning of the year to the end of July, Vietnam imported a total of 19,857 tons of pepper of all kinds, with a total import turnover of 80.3 million USD, an increase of 14.9% compared to the same period in 2023.

The imported volume was mainly black pepper, reaching 17,443 tons, and white pepper was 2,414 tons. Enterprises importing a lot of pepper in the first 7 months of the year included Olam Vietnam, Tran Chau and KSS Vietnam, reaching 7,317 tons, 2,087 tons and 1,025 tons.

Pepper price forecast September 1, 2024: The upward trend will continue, will pepper prices recover as in early August?

Preliminary statistics from the Vietnam Pepper and Spice Association (VPSA) show that Vietnam imported 1,855 tons of pepper in July, of which black pepper reached 1,086 tons and white pepper reached 769 tons, down 4.9% compared to the previous month. From the beginning of the year to the end of July, Vietnam imported a total of 19,857 tons of pepper of all kinds, with a total import turnover of 80.3 million USD, an increase of 14.9% compared to the same period in 2023.

The imported volume was mainly black pepper, reaching 17,443 tons, and white pepper was 2,414 tons. Enterprises importing a lot of pepper in the first 7 months of the year included Olam Vietnam, Tran Chau and KSS Vietnam, reaching 7,317 tons, 2,087 tons and 1,025 tons.

Meanwhile, in the domestic market, pepper prices today, August 31, 2024, in the Southeast region increased by 1,500 - 3,000 VND compared to yesterday, trading around 143,000 - 145,000 VND/kg, the highest purchase price in Dak Lak and Binh Phuoc provinces is 145,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 145,000 VND/kg, an increase of 1,500 VND/kg compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 143,000 VND/kg, stable compared to yesterday. The price of Dak Nong pepper today was recorded at 144,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday.

In Binh Phuoc, pepper price today is 145,000 VND/kg, an increase of 3,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is 144,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday;

Update on world pepper prices today from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,529 USD/ton, down 0.41%, and the price of Muntok white pepper at 8,865 USD/ton, down 0.41%.

Brazilian ASTA 570 black pepper prices remained stable at USD 6,450/ton. Malaysian ASTA black pepper prices remained stable at USD 8,500/ton; the country’s ASTA white pepper prices reached USD 10,400/ton.

Vietnam black pepper price is traded at 6,100 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 8,800 USD/ton.

The International Pepper Community commented that the pepper market at the end of August continued to have mixed reactions.

The pepper harvest in Vietnam will last from January to the end of April in key growing areas, with output slightly increasing compared to 2023.

There is currently a lot of conflicting information. Some gardeners say that their pepper gardens have not produced any fruit this new pepper season. However, some gardeners say they expect a bumper crop. This is due to weather factors.

According to experts, even if the next pepper crop is slightly better than the last one, it will not be able to make up for the pepper acreage lost in the past and is still being lost. Therefore, it is forecasted that the supply will continue to be in short supply in the future.

*Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-192024-da-tang-se-tiep-tuc-lieu-gia-tieu-co-khoi-phuc-nhu-hoi-dau-thang-8-342719.html