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| Pepper price today January 7, 2024, stable, Vietnamese pepper market share in total US imports increases. (Source: Incredibleman) |
Pepper price today, January 7, 2024, in the domestic market is stable in some key localities, trading from 81,000 - 83,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 81,000 VND/kg.
Pepper prices today in Dong Nai province (81,500 VND/kg); Dak Nong, Dak Lak (82,000 VND/kg); Ba Ria - Vung Tau (83,500 VND/kg) and Binh Phuoc (83,000 VND/kg).
Thus, after 3 consecutive days of increase with small fluctuations, pepper price today remains stable compared to the same time yesterday.
Exports have fallen due to falling domestic and international prices, which have discouraged farmers from selling their produce to traders, according to Mak Ny, president of the Cambodia Pepper and Spice Federation (CPSF). Mak Ny predicts that international pepper prices will continue to rise in 2024, although hot weather could reduce production.
In Indonesia, drought conditions were reported in Sumatra during August-September 2023. Following the drought, rains began in November 2023, facilitating the expected harvest in January and February 2024.
In Malaysia, prolonged rains earlier this year delayed pepper flowering.
According to data from the US International Trade Commission (USITC), the US imported 5,958 tons of pepper in October, up 23.9% from the previous month but down 10.8% from the same period last year. This is the eighth consecutive month that the country's pepper imports have decreased compared to the same period last year.
In the first 10 months of the year, US pepper imports reached 56,981 tons, worth 261.2 million USD, down 25.1% in volume and 31.2% in value compared to the same period last year.
Vietnam was the largest pepper supplier to the US market in the 10 months with a volume of 44,139 tons, down 20.9% compared to the same period last year. However, Vietnam's market share in total US imports still increased to 78% compared to 73% in the same period.
Import volume from other major markets also decreased: India reached 5,087 tons, down 5%; Indonesia reached 3,177 tons, down 48%; Brazil reached 1,828 tons, down 68.4%...
The demand for pepper imports in the US is expected to increase again in the coming time as inflation is cooling down and consumer spending is increasing.
In the world market, at the end of the weekend trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 3,940 USD/ton, up 0.03%; the price of Brazilian black pepper ASTA 570 at 3,270 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.
Muntok white pepper price is 6,069 USD/ton, up 0.05%; Malaysian ASTA white pepper price remains at 7,300 USD/ton.
Vietnam black pepper price is traded at 3,900 USD/ton for 500 g/l, 4,000 USD/ton for 550 g/l; white pepper price is at 5,700 USD/ton.
IPC commented that the market in the first week of 2024 recorded an increase in the prices of Indian pepper and Indonesian black pepper.
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