Chinese buyers return to the market after a long absence, prices continue to stay high?

Pepper price today, September 10, 2024, in the domestic market remained stable in key localities, trading from 152,000 - 153,000 VND/kg.

Pepper price today September 10, 2024: Chinese buyers return to the market after a long absence, prices continue to stay high? (Source: MC)

Pepper price today, September 10, 2024, in the domestic market remained stable in key localities, trading from 152,000 - 153,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 152,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (152,000 VND/kg); Dak Lak (153,000 VND/kg); Dak Nong (153,000 VND/kg); Ba Ria - Vung Tau (153,000 VND/kg) and Binh Phuoc (152,000 VND/kg).

Thus, after a slight decrease for one day, domestic pepper prices remained stable in all key localities today. The highest pepper price was at 153,000 VND/kg.

Domestic black pepper prices have increased by about 8% since late August as Chinese buyers returned to the market after a long absence.

In addition, Brazil’s pepper output is expected to fall more than initially expected due to unusual weather conditions. Cambodia’s harvest is also lower than in previous years. Therefore, the market outlook remains good through 2024 and even into 2025.

According to the Vietnam Pepper and Spice Association (VPSA), Vietnam’s pepper output in the last crop year decreased by 10% compared to the previous year, down to 170,000 tons. This is also the lowest level in the past 5 years.

In the first 8 months of the year, Vietnam exported 183,756 tons of pepper of all kinds, with a turnover of 881.2 million USD, down 2.1% in volume but up 43% in turnover compared to the same period last year.

The average export price of black pepper in the first 8 months of the year reached 4,712 USD/ton, white pepper reached 6,326 USD/ton, an increase of 1,270 USD for black pepper and 1,371 USD for white pepper respectively compared to the same period last year.

According to Ptexim, strong demand from the Chinese and Middle Eastern markets has caused pepper prices to increase rapidly in recent times. However, according to VPSA statistics, in August 2024, exports to China only reached 329 tons, down 45.7% compared to the previous month.

According to experts, currently, the amount of pepper in our country is not much, so the export of this item in the last months of this year will be lower than every year and will last until about March 2025 when the new harvest season begins. Therefore, the price of this item globally is forecast to continue to increase and stay high until Vietnam enters the harvest season next year.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,578 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.

Muntok white pepper price is 8,923 USD/ton; Malaysian ASTA white pepper price is at 10,900 USD/ton.

Vietnam's black pepper price is trading at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1092024-nguoi-mua-trung-quoc-quay-tro-lai-thi-truong-sau-thoi-day-dai-vang-bong-gia-tiep-tuc-neo-o-muc-cao-285561.html