On the world market
According to an update from the International Pepper Community (IPC) on July 25 (local time), the trading price of Lampung black pepper (Indonesia) decreased by 0.27%, the purchasing price of Brazilian black pepper ASTA 570 and the price of Kuching black pepper (Malaysia) ASTA remained stable compared to July 24.
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
July 24 |
July 25 |
% change |
|
|
Lampung Black Pepper (Indonesia) |
7,189 |
7.161 |
-0.27 |
|
Brazilian Black Pepper ASTA 570 |
7.125 |
7.125 |
0 |
|
Kuching Black Pepper (Malaysia) ASTA |
7,500 |
7,500 |
0 |
At the same time of survey, the purchase price of Muntok white pepper decreased by 0.26% and the price of Malaysian ASTA white pepper had no new changes.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
July 23 |
July 23 |
% change |
|
|
Muntok White Pepper |
9,154 |
9,118 |
-0.26 |
|
ASTA Malaysian White Pepper |
8,800 |
8,800 |
0 |
According to data, China still imports about 50 thousand tons of pepper from Vietnam every year. However, in the first half of 2024, the amount of pepper imported from Vietnam to this market decreased sharply, reaching only 7,453 tons, down 85.2%.
This year, in China’s main pepper producing region, crop failure is also worrying, with speculators hoarding goods. According to experts, it is likely that China and European traders are waiting for information and new shipments from the Indonesian harvest.
If the crop in this Southeast Asian country is not favorable, the low output and domestic speculation in China continue to force them to increase imports of Vietnamese pepper again. This will be the driving force for year-end growth of Vietnamese pepper prices.
The Vietnam Pepper and Spice Association (VPSA) commented that the law of pepper prices this year is not the same as in previous years. Vietnam’s pepper output in the 2023/2024 crop year has decreased significantly compared to the previous crop year, causing the current supply to be exhausted. Not only domestically, the global pepper supply is also scarce due to the impact of El Nino. In the long term, Vietnam’s pepper output will not be able to meet the world’s consumption demand in the next 5 years.
However, the market is waiting for information from the VPSA Conference summarizing the production and import-export situation of the spice industry in the first 6 months of 2024 and production and business orientation for the last 6 months of 2024, taking place at the end of July, according to information from the newspaper. Industry and Trade.
According to VietnamNet.vn
