On the world market
Update from the International Pepper Association (IPC), in the most recent trading session, the price of Lampung Indonesian black pepper continued to increase slightly by 0.16% compared to the previous trading session, listed at 6,691 USD/ton.
Meanwhile, pepper prices at other suppliers continued to stabilize. Specifically, Kuching Malaysian black pepper is priced at 8,500 USD/ton, Brazilian black pepper ASTA 570 is trading at 6,400 USD/ton.
Black pepper 500 g/l and 550 g/l export of Vietnam is offered for sale at 6,500 – 6,800 USD/ton.
|
Type name |
World black pepper price list |
|
|
November 1 (Unit: USD/ton) |
% change compared to the previous day |
|
|
Lampung black pepper (Indonesia) |
6,691 |
+0.16 |
|
Brazilian black pepper ASTA 570 |
6,400 |
0.0 |
|
Kuching black pepper (Malaysia) ASTA |
8,500 |
0.0 |
|
Vietnamese black pepper (500 g/l) |
6,500 |
0.0 |
|
Vietnamese black pepper (500 g/l) |
6,800 |
0.0 |
At the same time of the survey, Muntok Indonesia white pepper price was adjusted to increase by 0.17%, to 9,160 USD/ton.
White pepper prices in Vietnam and Malaysia continued to move sideways at 9,500 USD/ton and 11,000 USD/ton.
|
Type name |
World white pepper price list |
|
|
November 1 (Unit: USD/ton) |
% change compared to the previous day |
|
|
Muntok Indonesian white pepper |
9.160 |
+0.17 |
|
ASTA Malaysian white pepper |
11,000 |
0.00 |
|
Vietnamese white pepper |
9,500 |
0.00 |
Update pepper information
According to the Ministry of Agriculture and Rural Development, pepper is the agricultural product with the strongest export turnover in the first 10 months of 2024, reaching 1.12 billion USD, an increase of 48% over the same period last year.
Thus, after only 10 months, this industry has soon surpassed the 1 billion USD mark for the first time in 6 years.
This impressive growth momentum comes from rising pepper prices due to a decline in global supply while demand recovers strongly in major markets, especially the US and EU.
Data from the European Statistics Agency (Eurostat) shows that, in the first 8 months of 2024, the EU import 44,870 tons of pepper from foreign markets, worth nearly 216 million EUR, up 33.3% in volume and 49.5% in value compared to the same period last year.
Of which, Vietnam is the largest pepper supplier to the EU, with imports reaching over 29,736 tons, worth 138.3 million EUR, an increase of 41.8% in volume and 66.5% in value.
Vietnam’s pepper market share in the EU’s total imports from foreign markets accounts for 66.3% of the total volume and 63% of the total value in the first 8 months of 2024.
According to data from the US International Trade Commission, in the first 8 months of the year, the world’s largest importing country bought 63,294 tons of pepper of all kinds, worth 306.9 million USD, an increase of 37% in volume. and increased 44.8% in value compared to the same period last year.
Of which, Vietnam is the largest pepper supplier to the US with a volume of 49,277 tons, an increase of 35.4% over the same period and accounting for nearly 78% of the market’s import capacity.
According to VietnamBiz.vn
