Global pepper market week to September 23; pepper production in Brazil in 2024 to be severely damaged by drought

Published 2024년 9월 23일

Tridge summary

Vietnam, a key player in the global black pepper market and the world's largest exporter, saw export earnings of 42.3 million USD in the first half of September 2024, having shipped 6,917 tons of pepper. Despite the Federal Reserve's interest rate cut, domestic pepper prices remained unaffected, though a weaker USD led to price increases in other countries. Production challenges, including hot weather and El Nino-induced drought in Brazil, are expected to reduce the global pepper output by 20-25% in 2024 compared to the previous year, as highlighted by the Vietnam Pepper and Spice Association (VPSA).

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: - Vietnam is a country that plays a major role in the global black pepper market and is one of the largest black pepper exporters in the world. In the first half of September 2024, Vietnam recorded the export of 6,917 tons of pepper, earning 42.3 million USD. Looking at the long term in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption demand. - The Fed's interest rate cut last week is assessed to have had an insignificant impact on domestic pepper prices, while the decrease in the USD helped pepper prices in other countries increase well. - Pepper production in Brazil in 2024 was severely damaged by drought caused by El Nino. - According ...

Source: Vinanet