Export prices increase sharply, the US continues to be the largest market for Vietnamese pepper.

Pepper price today October 22, 2024 in the domestic market remained stable in some key localities, trading from 142,500 - 143,500 VND/kg.

Pepper price today October 22, 2024: Export price increased sharply, the US continues to be the largest market for Vietnamese pepper. (Source: Borneo Talk)

Pepper price today October 22, 2024 in the domestic market remained stable in some key localities, trading from 142,500 - 143,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (142,500 VND/kg); Dak Lak (144,500 VND/kg); Dak Nong (144,500 VND/kg); Ba Ria - Vung Tau (143,500 VND/kg) and Binh Phuoc (143,000 VND/kg).

Thus, after a slight increase for one day, domestic pepper prices remained stable today in some key growing areas. The highest pepper price was recorded at 144,500 VND/kg.

According to data from the Vietnam Pepper and Spices Association (VPSA), in the first 15 days of October, Vietnam exported 9,039 tons of pepper, with a total export turnover of 58.3 million USD.

Thus, Vietnam's pepper exports from the beginning of the year to mid-October reached 209,933 tons, with a turnover of 1.05 billion USD, down 1.9% in volume but up 47% in turnover compared to the same period last year.

The US is still the main export market, accounting for 31.7% of 2,865 tons, while Olam is the largest exporter with 1,424 tons, accounting for 15.8%. Next are Nedspice Vietnam: 945 tons, Phuc Sinh: 793 tons, Tran Chau: 761 tons and Lien Thanh: 578 tons.

On the other hand, in the first 15 days of October 2024, Vietnam imported 2,295 tons, with a total import turnover of 13.7 million USD. Indonesia is the main pepper supplier to Vietnam, accounting for 79.5% of the total, reaching 1,824 tons.

The main importing enterprises include: Tran Chau: 407 tons, Harris Spice: 360 tons, Phuc Sinh: 350 tons, Olam Vietnam: 342 tons and Phuc Thinh: 327 tons.

With the current higher price level than previous years and the assessment that Vietnam's pepper exports will continue to receive price support in the coming time, farmers in localities across the country tend to replant this once-famous "black gold" crop. Accordingly, many farming households with old pepper gardens have boldly invested in new planting or expanding the area compared to before.

At the end of last week's trading session, the International Pepper Community (IPC) listed Lampung black pepper price (Indonesia) at 6,794 USD/ton; Brazilian black pepper price ASTA 570 at 6,400 USD/ton; Kuching black pepper price (Malaysia) ASTA at 8,700 USD/ton.

Muntok white pepper price is 9,302 USD/ton; Malaysian ASTA white pepper price is at 11,200 USD/ton.

Vietnam's black pepper price is trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,500 USD/ton.

IPC commented that the pepper market last week continued to have mixed reactions. Domestic and international Indian pepper prices continued to be reported with a downward trend in the past 3 weeks. When the Indonesian Rupiah strengthened against the USD, it helped the country's pepper prices increase again.

Source: https://baoquocte.vn/gia-tieu-hom-nay-22102024-gia-xuat-khau-tang-manh-my-tiep-tuc-la-thi-truong-lon-nhat-cua-tieu-viet-290859.html