Pepper export supply will be low in the last months of the year

Pepper price today, September 29, 2024, in key areas increased by 1,000 - 1,500 VND/kg compared to yesterday and traded around 147,500 - 149,000 VND/kg, the highest purchase price in Binh Phuoc province was 149,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 148,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 148,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 147,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday.

Pepper price today September 29, 2024: Pepper export supply will be low in the last months of the year

In the Southeast region, pepper prices today increased by 1,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 149,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is at 148,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

Thus, domestic pepper prices today increased by 1,000 - 1,500 VND/kg in key localities. The highest pepper price was recorded at 149,000 VND/kg.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,942 USD/ton, and the price of Muntok white pepper at 9,430 USD/ton.

The price of Brazilian ASTA 570 black pepper remained at $6,750/ton. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $11,200/ton.

The price of Vietnamese black pepper remains stable at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton...

According to the Vietnam Pepper and Spice Association (VPSA), the amount of pepper in the population is almost gone, only remaining in agents and warehouses of enterprises. The inventory of the 2023 crop carried over plus the import volume in 2024 is about 40,000 - 45,000 tons (including unofficial imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.

In the first half of September 2024, Vietnam exported 6,917 tons of pepper, earning 42.3 million USD. Meanwhile, in the same period of August 2024, Vietnam exported 10,082 tons of pepper, with a turnover of 58.8 million USD. Thus, compared to the previous month, pepper exports are decreasing sharply, equivalent to 30%.

According to experts' forecasts, domestic pepper prices are likely to increase again due to many reasons. Although the current number of transactions is not much, it is expected to increase in the last months of the year to serve the shopping needs during the Lunar New Year, which will help increase the price of Vietnamese pepper.

According to a recent assessment by PTEXIM Corp – one of the largest pepper exporters in Vietnam, China has increased its purchases of white pepper again as the white pepper growing area on Hainan Island was severely affected by the recent Typhoon Yagi. Hainan Island is one of China’s key sources of white pepper.

White pepper supply in the world's second-largest economy is expected to become tighter as demand is expected to increase in the fourth quarter and the upcoming traditional Lunar New Year holiday.

According to data from the Chinese Customs Administration, China's pepper imports in July reached 1,965 tons, worth 9.2 million USD, up 2.1 times in volume and 2.3 times in value compared to the same period last year.

In Vietnam, the Central Highlands region is facing high temperatures and drought. Pepper plants need a lot of water and are not drought-tolerant. This weather condition not only affects the current crop but may also affect future crops of the Vietnamese pepper industry.

Nedspice's latest report stated that exports in the fourth quarter of this year will depend on the release of inventory carried over many years by "big players" and additional imported pepper.

In Brazil, the main harvest has begun in Para and Espírito Santo. Exports in July and August were down more than 20% year-on-year, as the May-June harvest in Espírito Santo was severely affected by severe weather conditions earlier in the year.

The company said that the falling global inventory ratio is pushing up prices and encouraging farmers to invest in maintaining and expanding their pepper farms.

Domestic pepper price on September 29, 2024