The pepper prices on September 23, 2024, in key areas are stable compared to yesterday and between 149,000 and 151,000 VND/kg.
At the end of the last trading session, the IPC listed Indonesia’s Lampung black pepper price at 7,715 USD/ton and Muntok white pepper price at 9,305 USD/ton.
Brazil’s ASTA 570 black pepper price remains 6,900 USD/ton. Malaysia’s ASTA black pepper price is 8,800 USD/ton and ASTA white pepper price is 11,200 USD/ton.
Vietnam’s black pepper price is 6,800 USD/ton for 500 g/l and 7,100 USD/ton for 550 g/l; white pepper price is 10,150 USD/ton.
Vietnam’s pepper exports to China have decreased strongly.
According to experts, pepper prices can exceed 160,000 VND/kg before the harvest in Vietnam. One of the main causes for the price increase in the past time is limited supply around the world.
In the structure of pepper exports in the first 8 months of the year, black pepper continues to account for a large proportion of up to 73.8%, reaching 135,620 tons. Next is ground black pepper with 25,699 tons, accounting for 14%. White pepper accounted for 7.7% with 14,975 tons. Ground white pepper accounted for 3.8%.
Since the beginning of the year, Vietnam’s pepper exports to most major consumption markets have grown at a strong double-digit rate, except for the Chinese market.
According to the VPSA, Vietnam’s pepper exports to China in the first 8 months of this year reached only 8,388 tons, worth 23.5 million USD. This is a sharp decrease of 84.4% in volume and 80.2% in value compared to the same period last year.
China’s share in Vietnam’s total pepper exports decreased from 28.6% to 4.6% in the same period. With this result, China now ranks 5th among the largest pepper importers of Vietnam after the first 8 months of the year, down 4 places from the No. 1 position of 2023.
China’s lower-than-expected economic growth, tightening consumer spending, and sufficient inventories are the main factors that have led China to restrict its purchases of pepper from Vietnam. In addition, pepper prices in the Chinese domestic market are lower than in Vietnam, which may also be one of the causes of the above decline.