Pepper prices today, September 30, 2024, average at 148,000 to 149,000 VND/kg, with little fluctuation in the market, with some price areas decreasing slightly.
In the world pepper market, the International Pepper Association has just updated a slight increase in black and white pepper prices in Indonesia. Drought in Espírito Santo, which supplies more than half of Brazil’s black pepper output, has greatly affected the country’s pepper harvest and the world market in general.
Related information:
– The skyrocketing price caused the grain known as Vietnam’s “black gold” to return to its heyday, when in just 9 months exports earned more than 1 billion USD. In the top 3 largest pepper export markets, Germany and the United Arab Emirates are spending a lot of money to buy this product from Vietnam.
– It is forecast that pepper prices in the fourth quarter of 2024 will be under a lot of pressure when the coffee harvest season is coming.
– Normally, the coffee harvest in October prompts intermediaries to liquidate pepper for coffee transactions. However, this year with lower inventory levels and the coffee harvest postponed until November, liquidation of pepper stocks could be significantly reduced.
– The Vietnam Pepper Association commented that in the next 3-5 years, global pepper production will still not be enough to meet consumer demand. Sellers are looking to establish linkages with the Vietnamese pepper industry to avoid a flood of orders in the market and control prices.
– According to a report by Nedspice, Vietnam’s processed pepper exports increased by more than 50% compared to 2023. In particular, whole black pepper exports increased slightly due to the absence of Chinese suppliers in the market. Pepper output in the 2025 crop is forecast to increase slightly. Exports in the fourth quarter will depend on the release of multi-year carry-forward inventories held by large investors and additional import volumes. In the context of rising pepper prices and many favorable markets, Vietnam’s pepper industry exports will likely exceed 1 billion USD this year.
