Signs of market shortage, Vietnamese pepper export price increases by more than 73%

Pepper prices today, October 13, 2024, in the domestic market continued to decrease in some key localities, trading from 144,000 - 146,000 VND/kg.

Pepper price today October 13, 2024: Signs of market shortage, Vietnamese pepper export price increased by more than 73%. (Source: SAM Agritech)

Pepper prices today, October 13, 2024, in the domestic market continued to decrease in some key localities, trading from 144,000 - 146,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 145,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (145,000 VND/kg); Dak Lak (146,000 VND/kg); Dak Nong (145,000 VND/kg); Ba Ria - Vung Tau (144,000 VND/kg) and Binh Phuoc (144,000 VND/kg).

Thus, continuing yesterday's downward trend, domestic pepper prices today decreased slightly in some key growing areas, with a decrease of 1,000 - 2,000 VND/kg. The highest pepper price reached 146,000 VND/kg.

According to preliminary statistics from the General Department of Customs, Vietnam's pepper exports in September reached 17,104 tons, worth 110.5 million USD, down 11.9% in volume and 5.4% in value compared to the previous month; and down 5.6% in volume but up 63.7% in value compared to the same period last year.

In the first 9 months of the year, Vietnam's pepper exports reached 200,268 tons, with a turnover of 989.7 million USD, down 2.8% in volume but up 45% in turnover over the same period in 2023.

The average export price of Vietnamese pepper in September reached 6,459 USD/ton, up 7.4% over the previous month and 73.4% over the same period last year. In the first 9 months of the year, the average export price of pepper reached 4,942 USD/ton, up 49.2% over the same period last year.

Thus, Vietnam's pepper export volume has decreased significantly in September. This is a sign that domestic pepper supply is not much left.

The Import-Export Department ( Ministry of Industry and Trade ) forecasts that the Vietnamese pepper industry will benefit from high export prices due to limited supply. In the long term, pepper export prices will still be supported due to the expected decrease in Vietnam's pepper output in the 2025 crop.

Pepper acreage in Binh Dinh is smaller than in the provinces of the Central Highlands and the Southeast, with the majority concentrated in Hoai An district. The entire Hoai An district currently has about 300 hectares of pepper, of which 260 hectares are harvested. The estimated yield is about 7 tons/ha, a fairly positive figure, although slightly lower than in previous years, due to lack of investment.

Faced with the rising price of pepper, many farmers in Hoai An intend to expand their pepper cultivation. However, authorities recommend caution to avoid the risk of oversupply in the future.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,732 USD/ton, up 0.31%; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton, down 100 USD/ton.

Muntok white pepper price is 9,002 USD/ton, up 0.31%; Malaysian ASTA white pepper price is at 11,200 USD/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,850 USD/ton. IPC has adjusted up pepper price in Indonesia while reducing Kuching black pepper (Malaysia).

Source: https://baoquocte.vn/gia-tieu-hom-nay-13102024-dau-hieu-thi-truong-khan-hang-gia-tieu-viet-xuat-khau-tang-hon-73-289873.html