Pepper prices today, September 26, continued to decrease by VND1,000, fluctuating at an average of VND148,000-149,000/kg in key localities. According to data from the European Statistical Office, by the end of July, Vietnam was the largest pepper supplier to the EU with a volume of 24.88 thousand tons, accounting for 65.6% of the market’s import capacity.
In the domestic market
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According to information from businesses, recently, Vietnam’s traditional purchasing markets have imported large quantities of pepper. This means that they are not in a hurry to buy more goods and are waiting.
In the world market
According to an update from the International Pepper Community (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper was listed at 6,963 USD/ton, up 0.6% (43 USD/ton) compared to the previous day.
In other countries, pepper prices were generally quite stable. Specifically, Brazilian black pepper ASTA 570 reached 6,750 USD/ton, while Malaysian Kuching black pepper was at 8,800 USD/ton.
In Vietnam, the price of black pepper is 500 g/l and 550 g/l. export reached 6,800 USD/ton and 7,100 USD/ton respectively.
|
Type name |
World black pepper price list |
|
|
September 25 (Unit: USD/ton) |
% change from previous day |
|
| Lampung Black Pepper (Indonesia) |
6,963 |
+0,,62 |
| Brazilian Black Pepper ASTA 570 |
6,750 |
0 |
| Kuching Black Pepper (Malaysia) ASTA |
8,800 |
0 |
| Vietnamese black pepper (500 g/l) |
6,800 |
0 |
| Vietnamese black pepper (500 g/l) |
7,100 |
0 |
At the same time of survey, the price of Indonesian Muntok white pepper increased by 58 USD/ton, up to 9,458 USD/ton.
Meanwhile, the price of Malaysian ASTA white pepper and Vietnamese white pepper remained unchanged at USD 11,200/ton and USD 10,150/ton.
|
Type name |
World white pepper price list |
|
|
September 25 (Unit: USD/ton) |
% change from previous day |
|
| Muntok Indonesian White Pepper |
9,458 |
+0.61 |
| ASTA Malaysian White Pepper |
11,200 |
0 |
| Vietnam white pepper |
10,150 |
0 |
Vietnam is the largest pepper supplier to the EU.
The Import-Export Department cited data from the European Statistical Office, saying that in the first 7 months of the year, the EU imported 37.94 thousand tons of pepper from non-bloc markets, worth 179.54 million EUR (equivalent to 199.79 million USD), up 31.6% in volume and 45% in value over the same period last year.
Notably, in the first 7 months of the year, Vietnam was the largest pepper supplier to the EU with a volume of 24.88 thousand tons, worth 112.5 million EUR (equivalent to 125.2 million USD), up 38.9% in volume and 58.1% in value over the same period last year.
Vietnam’s pepper market share in the EU’s total imports from extra-bloc markets increased from 62.16% in the first 7 months of 2023 to 65.58% in the first 7 months of 2024.
In addition, EU pepper imports from other major markets also grew at double-digit rates. For example, Brazil increased by 19.4%, reaching over 6 thousand tons.
According to the Import-Export Department, in general, Vietnam’s pepper industry still has an advantage in the EU market thanks to its quality supply and competitive prices. However, to increase the value of pepper in the coming time, Vietnam needs to focus on producing organic spices for export, meeting global tastes in general and the EU market in particular.
According to VietnamBiz.vn
