Market is booming, Vietnam sharply reduces pepper imports from Brazil

Pepper prices today, September 30, 2024, in the domestic market turned to increase slightly in key localities, trading from 147,500 - 149,000 VND/kg.

Pepper price today September 30, 2024: Market is improving, Vietnam sharply reduces pepper imports from Brazil. (Source: MC)

Pepper prices today, September 30, 2024, in the domestic market turned to increase slightly in key localities, trading from 147,500 - 149,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 148,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (148,000 VND/kg); Dak Lak (148,000 VND/kg); Dak Nong (147,500 VND/kg); Ba Ria - Vung Tau (148,000 VND/kg) and Binh Phuoc (149,000 VND/kg).

Thus, after 4 consecutive days of decline, domestic pepper prices today turned to increase slightly in key localities, increasing by 1,000 - 1,500 VND/kg. The highest pepper price was at 149,000 VND/kg. The market recovered slightly.

Nedspice said that Vietnam’s processed pepper exports increased by more than 50% compared to last year. Whole black pepper exports increased slightly due to the absence of Chinese suppliers in the market. Higher prices encouraged replanting and more intensive cultivation. The company said that the 2025 crop will increase slightly.

According to data from Brazil's State Center for Foreign Trade Statistics (Comex Stat), the country exported 45,699 tons of pepper in the first eight months of the year, worth $183.4 million. Although the volume decreased by 10.4%, the value increased by 19.3% compared to the same period in 2023.

Brazil's main pepper export markets in the first 8 months of the year include: Vietnam, United Arab Emirates (UAE), Pakistan, India, Senegal...

Notably, exports to Vietnam - Brazil's largest pepper consumer market - in August fell sharply to the lowest level in many months, reaching only 243 tons, down 48.5% compared to the previous month and down 76.3% compared to the same period last year.

In the first eight months of the year, Vietnam imported 6,625 tons of pepper from Brazil worth US$23.5 million, down 30.2% in volume and 16.4% in value compared to the same period last year. Vietnam's market share in Brazil's total pepper exports also decreased from 18.6% to 14.5% after the first eight months of the year.

Vietnam's pepper import price from Brazil in the first 8 months of the year increased by 19.7%, reaching an average of 3,548 USD/ton. However, this is the lowest price among the top 16 pepper importing countries from Brazil, respectively 300 USD to more than 600 USD/ton lower than other markets.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,942 USD/ton, up 0.22%; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.

Muntok white pepper price is 9,430 USD/ton, up 0.22%; Malaysian ASTA white pepper price 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 an update from IPC, last week, the price of Indonesian Lampung black pepper increased by 0.4%, reaching 6,942 USD/ton.

In contrast, the price of Brazilian black pepper ASTA 570 decreased by 2.2% (equivalent to 150 USD/ton), down to 6,750 USD/ton.

Meanwhile, the export price of 500 g/l and 550 g/l black pepper from Vietnam remained stable at around 6,800 USD/ton and 7,100 USD/ton. Meanwhile, in Malaysia, Kuching black pepper remained stable at 8,800 USD/ton.

Source: https://baoquocte.vn/gia-tieu-hom-nay-3092024-thi-truong-khoi-sac-viet-nam-giam-manh-nhap-khau-tieu-tu-brazil-288188.html