Pepper prices today, October 2, continued to increase and decrease in opposite directions among key production localities. Data from the Indian Ministry of Commerce shows that India’s demand for importing pepper has increased sharply since the beginning of the year and Vietnam is currently the second largest supplier to this country.
In the domestic market
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Pepper price Today continues to fluctuate in opposite directions compared to yesterday, fluctuating between 147,000 – 149,000 VND/kg.
In Dak Lak province, pepper prices continued to be adjusted by agents by 1,000 VND/kg, to 149,000 VND/kg.
On the contrary, pepper prices in Gia Lai and Dak Nong provinces both decreased by 1,000 VND/kg compared to yesterday, reaching 147,000 VND/kg and 148,000 VND/kg respectively.
In the Southeast region, pepper prices were generally flat compared to yesterday. Specifically, pepper prices in Ba Ria – Vung Tau and Dong Nai are trading at 148,000 VND/kg, while in Binh Phuoc the price is 149,000 VND/kg.
|
Province/district (survey area) |
Purchase price on October 2 (Unit: VND/kg) |
Change compared to the previous day (Unit: VND/kg) |
| Dak Lak |
149,000 |
+1,000 |
| Gia Lai |
147,000 |
-1,000 |
| Dak Nong |
148,000 |
-1,000 |
| Ba Ria – Vung Tau |
148,000 |
– |
| Binh Phuoc |
149,000 |
– |
| Dong Nai |
148,000 |
– |
On the world market
According to data from the International Pepper Association (IPC), at the end of the most recent trading session, world black pepper prices were flat compared to yesterday.
Specifically, the price of Lampung black pepper from Indonesia is listed at 6,939 USD/ton, Kuching black pepper from Malaysia is priced at 8,900 USD/ton, and Brazilian black pepper ASTA 570 is priced at 6,750 USD/ton.
Similarly, the offering price of black pepper 500 g/l and 550 g/l of Vietnam remained stable between 6,800 USD/ton and 7,100 USD/ton.
|
Type name |
World black pepper price list |
|
|
October 1 (Unit: USD/ton) |
% change compared to the previous day |
|
| Lampung black pepper (Indonesia) |
6,939 |
0 |
| Brazilian black pepper ASTA 570 |
6,750 |
0 |
| Kuching black pepper (Malaysia) ASTA |
8,900 |
0 |
| Vietnamese black pepper (500 g/l) |
6,800 |
0 |
| Vietnamese black pepper (500 g/l) |
7,100 |
0 |
At the same time of the survey, the price of Muntok Indonesian white pepper was flat at 9,278 USD/ton, Malaysian ASTA white pepper reached 11,400 USD/ton and Vietnamese white pepper was 10,150 USD/ton.
|
Type name |
World white pepper price list |
|
|
October 1 (Unit: USD/ton) |
% change compared to the previous day |
|
| Muntok Indonesian white pepper |
9,278 |
0 |
| ASTA Malaysian white pepper |
11,200 |
0 |
| Vietnamese white pepper |
10,150 |
0 |
Import India’s consumption skyrocketed
According to data from the General Department of Customs, India was Vietnam’s fourth largest pepper consuming market in the first 8 months of the year, accounting for 4.9% of the total volume. export with 9,012 tons, worth nearly 41 million USD, up 11.8% in volume and up to 45.6% in value compared to the same period last year.
According to data from the Indian Ministry of Commerce, by the end of July this year, the country’s pepper imports reached 24,557 tons, an increase of 52% (8,401 tons) compared to the same period in 2023.
In July alone, India’s pepper imports reached 7,130 tons, an increase of 2.9 times over the same period last year. Of which, up to 5,088 tons were imported from Sri Lanka, a sudden increase of 5 times compared to the same period last year. Next is Vietnam with 1,414 tons, an increase of 173%.
With sudden growth in July, Sri Lanka surpassed Vietnam to become the largest pepper export market to India in the first 7 months of the year with a volume of 9,567 tons, doubling the same period last year. last year and accounted for 39% market share.
Vietnam is the second largest pepper supplier to India in the first 7 months of the year with a volume of 7,988 tons, an increase of 52% over the same period last year and accounting for 32.5% of the market’s import capacity.
In addition, India also increased pepper imports from Brazil by 61% to 4,291 tons, Indonesia increased by 9.1% to 1,852 tons…
India’s pepper output is expected to reach about 60,000 tons in the 2023-2024 crop year, an increase of about 6% compared to the previous year. However, India still faces shortages as domestic demand is expected to exceed 66,000 tons, creating pressure on both production and imports.
According to VietnamBiz.vn
