Update pepper information
Brazil’s pepper exports hit a record high of 92,065 tonnes in 2021, but then fell to 86,359 tonnes in 2022 and 80,725 tonnes in 2023.
Reduced output from Brazil and Vietnam, the world’s two leading pepper producing countries, has pushed world pepper prices up continuously in recent times.
In recent weeks, although pepper prices have somewhat stabilized, they are still fluctuating at their highest level in the past 8 years.
Data from the International Pepper Community (IPC) shows that at the end of the trading session on July 17, the price of Brazilian ASTA black pepper fluctuated at 7,125 USD/ton, up 2.1 times compared to the beginning of this year and 2.3 times higher than the same period last year.
The export price of 500 g/l and 550 g/l black pepper from Vietnam is fluctuating at 6,000 – 6,600 USD/ton, up 54 – 65% compared to the beginning of this year.
In another major producer, Indonesia, pepper prices also increased by about 86% compared to the beginning of this year to $7,223/ton.
Thus, this is the first rare time in many years that Brazilian black pepper prices have surpassed those of Vietnam.
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.
Meanwhile, rapidly rising freight costs and port congestion in Asia are also impacting prices in import markets, potentially causing shipping delays. This could lead to price increases in the medium to long term.
According to VietnamBiz.vn
