Pepper market forecast on September 30: Vietnam's pepper exports are forecast to exceed 1 billion USD this year

Published 2024년 9월 30일

Tridge summary

The article highlights the significant increase in the prices of black pepper and white pepper in Vietnam, a situation that has led to profitable exports, with the country earning over $1 billion in nine months. The prices are expected to face pressure in Q4 2024 due to the coffee harvest season. The Vietnam Pepper Association anticipates a persistent global pepper supply-demand gap in the next 3-5 years, prompting efforts to connect the Vietnamese pepper industry to control prices and avoid market oversaturation. Additionally, Vietnam's processed pepper exports have seen a surge of over 50% compared to 2023, with the country likely to exceed $1 billion in exports this year due to high prices and favorable market conditions.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Daily price list of black pepper and white pepper Note: The above prices are for reference only, the actual price will vary depending on the locality, transportation method, payment method, transaction volume, etc. Readers please contact the nearest pepper businesses and agents for specific advice. Highlights: - The skyrocketing price has brought the type of grain known as "black gold" of Vietnam back to its golden age, when in just 9 months of export, it 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 item from Vietnam. - Pepper prices are forecasted to be under a lot of pressure in the fourth quarter of 2024 when the coffee harvest season is approaching. - Normally, the coffee harvest in October encourages intermediaries to liquidate pepper to trade coffee. However, this year with lower inventories and the coffee harvest delayed until November, the liquidation of pepper ...

Source: Vinanet