The market is still growing in the medium and long term, Vietnam is the largest pepper supplier to India.

Pepper price today, July 27, 2024, in the domestic market increased slightly in key localities, trading from 149,000 - 150,000 VND/kg.

Pepper price today July 27, 2024: The market will continue to increase in the medium and long term, Vietnam is the largest pepper supplier to India. (Source: Ptexim)

Pepper price today, July 27, 2024, in the domestic market increased slightly in key localities, trading from 149,000 - 150,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 149,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (150,000 VND/kg); Dak Lak (150,000 VND/kg); Dak Nong (150,000 VND/kg); Ba Ria - Vung Tau (149,000 VND/kg) and Binh Phuoc (149,000 VND/kg).

Thus, domestic pepper prices today increased slightly in some key localities, an increase of 1,000 VND/kg. The highest pepper price is at 150,000 VND/kg.

According to the Vietnam Industry and Trade Information Center (VITIC), rapidly increasing freight costs and port congestion in Asia are affecting prices in import markets, and may cause shipping delays, leading to price increases in the medium and long term.

According to the General Department of Customs, in the first 6 months of the year, Vietnam exported a total of 141,392 tons of pepper of all kinds with a revenue value of 629.9 million USD, down 7.4% in volume but up more than 30% in value compared to the same period in 2023.

Of which, India is the fourth largest pepper consuming market of Vietnam with a volume of 6,813 tons, worth 28 million USD, a sharp increase of 46.5% in volume and 90.6% in value.

According to data from the Indian Ministry of Commerce, by the end of May, the country's total pepper imports reached 12,482 tons, an increase of nearly 11% over the same period last year.

Notably, Vietnam was the largest pepper supplier to India in the first five months of the year with a volume of 5,220 tons, up 42.5% over the same period last year. This result helped Vietnam's pepper market share in India expand from 32.5% to 41.8%.

Vietnam's average pepper export price to India in the first 5 months increased by 29.7% to 4,371 USD/ton, higher than the price of 3,414 USD/ton of Brazil and 3,141 USD/ton of Indonesia, but lower than the figure of 6,190 USD/ton of Sri Lanka.

India is currently the world's third largest pepper producer but is also the world's second largest importer of this spice.

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 7,161 USD/ton, down 0.27%; 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 9,118 USD/ton, down 0.26%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam black pepper price is traded 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 lowers Indonesian pepper price while keeping it stable in other countries.

Source: https://baoquocte.vn/gia-tieu-hom-nay-2772024-thi-truong-con-tang-trong-trung-va-dai-han-viet-nam-la-nguon-cung-ho-tieu-lon-nhat-cho-an-do-280240.html