Vietnam's pepper output in 2024 is the lowest in the past 5 years

Pepper prices are forecast to rebound on September 24, 2024. According to statistics, in the first 15 days of September 2024, Vietnam exported 6,917 tons of pepper, with a total export turnover of 42.3 million USD. Meanwhile, in the first 15 days of August 2024, Vietnam exported 10,082 tons of pepper, with a total export turnover of 58.8 million USD. Compared to the previous month, pepper exports are falling sharply, equivalent to 30%.

However, experts still maintain their opinion that domestic pepper prices may exceed 160,000 VND/kg before the harvest season in Vietnam.

One of the main reasons for the recent increase is the limited supply worldwide . Looking at the long term in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption demand. Regarding pepper prices this week, experts say it is difficult to have a breakthrough, but there are positive signs when the market is on the rise in the last 2 days of last week.

In the domestic market, pepper prices today, September 23, 2024, in key areas were stable compared to yesterday and traded around 149,000 - 151,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 151,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 151,000 VND/kg, unchanged from yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 150,000 VND/kg, unchanged from yesterday. The price of Dak Nong pepper today is at 151,000 VND/kg, unchanged from yesterday.

In Binh Phuoc, pepper price today is at 150,000 VND/kg, stable compared to yesterday. In Ba Ria - Vung Tau, it is at 149,000 VND/kg, unchanged compared to yesterday.

Pepper price forecast September 24, 2024: Vietnam's pepper output in 2024 is the lowest in the past 5 years

At world pepper prices, updated world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,715 USD/ton, and the price of Muntok white pepper at 9,305 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,900 USD/ton. The price of Malaysian ASTA black pepper is at 8,800 USD/ton; the price of this country's ASTA white pepper is at 11,200 USD/ton.

Vietnam black pepper price is traded 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), Vietnam's pepper output in 2024 is estimated to reach only about 170,000 tons, down 10% compared to the previous year. This is also the lowest level in the past 5 years.

Experts say pepper prices could rise above VND160,000/kg before the harvest season in Vietnam. One of the main reasons for the recent increase in pepper prices is limited supply worldwide.

Global pepper production in 2024 is expected to reach around 465,000 tonnes, down 1.2% from last year. Meanwhile, global pepper consumption is expected to reach 529,000 tonnes, exceeding production by 64,000 tonnes. This has caused inventories to continue to decline to 428,000 tonnes, the lowest level in the past 6 years.

Also related to pepper output, according to some experts, due to prolonged drought in April and May in key pepper growing areas, Vietnam's 2025 harvest will be delayed. It is forecasted that the 2025 pepper crop will be harvested almost entirely in February, with many areas extending to March and April, 1-2 months later than previous years due to the impact of prolonged drought.

*Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-2492024-san-luong-tieu-nam-2024-cua-viet-nam-thap-nhat-trong-5-nam-tro-lai-day-347848.html