Continuing the downward trend, there is still a lot of room for growth, Vietnam sharply reduces import and export volume

Pepper prices today, July 19, 2024, in the domestic market continued to decrease in some key localities, trading at 147,000 - 148,000 VND/kg.

Pepper price today July 19, 2024: Continuing the downward trend, there is still a lot of room for growth; Vietnam sharply reduces import and export volume. (Source: Times of India)

Pepper prices today, July 19, 2024, in the domestic market continued to decrease in some key localities, trading at 147,000 - 148,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 147,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (147,000 VND/kg); Dak Lak (148,000 VND/kg); Dak Nong (149,000 VND/kg); Ba Ria - Vung Tau (148,000 VND/kg) and Binh Phuoc (148,000 VND/kg).

Thus, domestic pepper prices today continued to decline in key localities, down 1,000 VND/kg. The highest pepper price was at 148,000 VND/kg.

Some industry experts believe that the market has not yet had new momentum to push up pepper prices. However, domestic pepper prices have formed a new price range and are unlikely to fall further from the current price level.

Many industry experts have predicted that pepper prices in the near future could break the peak of VND250,000/kg - the highest level of the pepper price cycle 10 years ago. According to the assessment of the Vietnam Pepper Association (VPSA), the current price level of Vietnamese pepper is still quite low compared to pepper prices in other major producing countries. Therefore, the room for increase in Vietnamese pepper prices is still relatively large.

According to VPSA, in the first 15 days of July 2024, Vietnam exported 9,993 tons of pepper, with a total export turnover of 56.5 million USD.

Previously, in the first 16 days of June 2024, Vietnam exported 16,211 tons of pepper. Thus, exports in the first half of July 2024 decreased sharply.

In the opposite direction, Vietnam imported 746 tons, with a total import turnover of 4.5 million USD. In the first 16 days of June 2024, Vietnam imported 1,357 tons. Compared to the same period last month, the import volume also decreased by half.

Vietnam, the world's leading pepper producer and exporter, is the largest customer of Brazil's pepper industry. In the first half of this year, Brazil exported 5,910 tons of pepper to Vietnam, down 21.5% compared to the same period last year and accounting for nearly 16% of the South American country's total pepper exports.

Brazil's pepper export price to Vietnam averaged $3,488 per ton, up 19% compared to the first half of last year, but the lowest among the top 15 pepper importing countries from Brazil. At the same time, it was significantly lower than Vietnam's average export price of $4,454 per ton to the international market during the same period.

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 7,223 USD/ton, up 0.46%; the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,196 USD/ton, up 0.46%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton. IPC slightly adjusted up pepper prices in Indonesia after a series of previous declines.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1972024-noi-dai-da-di-xuong-du-dia-tang-con-tuong-doi-nhieu-viet-nam-giam-manh-luong-xuat-nhap-khau-279155.html