The market has no new growth momentum, Vietnamese pepper exports to the US increase sharply

Pepper prices today, July 17, 2024, in the domestic market continued to move sideways in some key localities, trading at 150,000 - 151,000 VND/kg.

Pepper price today July 17, 2024: The market has no new growth momentum, Vietnamese pepper exports to the US increased sharply. (Source: Food and Wine)

Pepper prices today, July 17, 2024, in the domestic market continued to move sideways in some key localities, trading at 150,000 - 151,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 150,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (150,000 VND/kg); Dak Lak (150,000 VND/kg); Dak Nong (151,000 VND/kg); Ba Ria - Vung Tau (151,000 VND/kg) and Binh Phuoc (150,000 VND/kg).

Thus, domestic pepper prices today continue to be stable in key localities. The highest pepper price is at 151,000 VND/kg.

According to some agents and agricultural businesses, last week, the increase in domestic coffee prices in the context of Robusta coffee prices in the world breaking the historical peak caused capital to shift to coffee trading speculation, making the pepper market less vibrant. This partly affected the price of pepper in the localities.

Besides, there is a phenomenon of some agents holding down prices to force people to consign pepper to close the sale early.

Commenting on the market this week, some industry experts said 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 decrease further. Pepper prices fluctuate around 150,000 VND/kg.

Regarding pepper export activities, according to statistics from the Vietnam Pepper and Spice Association (VPSA), in June 2024, Vietnam exported 24,988 tons of black pepper and 3,174 tons of white pepper. The total export turnover reached 141.1 million USD, including 122.2 million USD of black pepper and 18.9 million USD of white pepper.

The average export price of black pepper in June reached 5,067 USD/ton, up 11.5%; the export price of white pepper reached 6,922 USD/ton, up 13.4% over the previous month.

In the first half of the year, the total export volume of black pepper reached 125,959 tons, white pepper reached 16,627 tons. The total export turnover of pepper reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper contributed 94.3 million USD.

Thus, in the first 6 months of 2024, Vietnam exported 142,586 tons of pepper of all kinds, down 6.8% in volume but up 30.5% in value.

In terms of market, the US is currently Vietnam's largest pepper export market with a volume of 37,435 tons, up 44.6% over the same period last year, accounting for 26.3% of market share.

Followed by markets such as Germany with 9,526 tons (up 106.7%); UAE market reached 8,388 tons (up 15.2%); exports to India reached 8,173 tons (up 45.7%) and to the Netherlands market reached 6,019 tons (up 52.1%).

There are many expectations that increased purchases from China from the third quarter will help the market improve. But in reality, there are still no signs of improvement. The amount of pepper exported to China is still very low compared to previous years.

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 7,203 USD/ton, down 0.11%; the price of Brazilian black pepper ASTA 570 at 7,150 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,171 USD/ton, down 0.12%; 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 down pepper prices in Indonesia.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1772024-thi-truong-chua-co-dong-luc-tang-moi-tieu-viet-xuat-khau-sang-my-tang-manh-278919.html