W13 White Pepper Update: Global White Pepper Market Holds Steady with Slight Fluctuations, Vietnam's Pepper Exports Surged in Mar-24

Published 2024년 4월 6일

In W13 in the white pepper landscape, global white pepper prices remained stable on March 25, with Indonesian Muntok white pepper at USD 6,219/mt, Malaysian white pepper ASTA at USD 7,300/mt, and Vietnam's export prices at USD 6,000/mt. However, Indonesia saw a slight decrease in Muntok white pepper prices by 0.14% to USD 6,210/mt on March 26, followed by a rebound to USD 6,179/mt on March 29. Vietnam exported 12,368 mt of pepper in the first 16 days of Mar-24, with black pepper comprising the majority. The average export price for Vietnamese pepper in the first two months of 2024 surged by 28.1% YoY to USD 4,022/mt, while pepper imports totaled 1,943 mt, primarily from Cambodia and Brazil.

Global White Pepper Market Showed Stability with Minor Fluctuations

On March 25, the global white pepper market remained stable, with Indonesian Muntok white pepper holding steady at USD 6,219 per metric ton (mt). The price for Malaysian white pepper ASTA stood at USD 7,300/mt, and Vietnam's export prices for white pepper at USD 6,000/mt. However, on March 26, while global pepper prices remained unchanged in most countries, Indonesia experienced a slight decrease in Muntok white pepper prices by 0.14% to USD 6,210/mt. By March 29, prices rebounded in Indonesia, with Muntok white pepper increasing by 0.13% to USD 6,179/mt.

Vietnam's Pepper Exports Surged in Mar-24, Driven by Strong Prices

In the first 16 days of Mar-24, Vietnam exported 12,368 mt of pepper, comprising 10,518 mt of black pepper and 1,850 mt of white pepper, generating USD 53 million in revenue. Feb-24 saw an average export price of USD 4,050/mt, marking a 1.2% month-on-month (MoM) increase and a 34.7% year-on-year (YoY) surge. Overall, the average export price for Vietnamese pepper in the first two months of 2024 reached USD 4,022/mt, reflecting a substantial 28.1% YoY rise compared to 2023. Conversely, pepper imports into Vietnam during the same period totaled 1,943 mt, amounting to USD 7.2 million in import turnover. Cambodia and Brazil were the primary sources of pepper imports, accounting for 43.2% and 42.4%, respectively.