Recently, the price information on the website of the International Pepper Association (IPC) about Vietnamese pepper prices has been significantly different from the information provided by VSPA, and at times there have been errors. To avoid psychological fluctuations leading to decisions that cause economic losses, we recommend that farmers, agents, export companies, and foreign customers consult other sources to ensure objectivity and reliability when making buying/selling decisions. VPSA will try to update information on countries and export prices of Vietnamese pepper as accurately and promptly as possible.
Data shows that by the end of June 2024, Vietnam had exported an estimated 140,000 tons, with a turnover of 550 million USD, down 8.2% in volume but up 32.2% in value compared to the same period in 2023. Thus, there are still 7-8 months left until the new harvest (expected after Lunar New Year from February 2025) while the amount of goods remaining in the hands of people, agents and businesses is not as much as VPSA previously estimated.
Brazil exported 31,846 tons by the end of May, down 8% year-on-year. It is expected to continue harvesting in August in the Espirito Santos region and November in the Para region. It is estimated that the country will harvest about 60,000 tons more.
According to some farmers in the Espirito Santos region, the harvest in 2024 may be 25-30% lower due to the hot weather causing the first batch of cotton to fall off almost completely and the fruit set ratio of the second and third batches of cotton to be quite low, so it is expected to only reach about 70% compared to last year. Overall, the country in 2024 may decrease by 20-25% compared to 2023.
Some experts believe that signs of supply shortage compared to demand will continue to be recorded and reflected in the market in the coming time until the crop season.
VPSA
