(VAN) Pepper prices on 07/09/2024 increased slightly by VND 1,000. Domestic pepper prices are now trading around the range of VND 151,000 – 152,000/kg.
Update on domestic and global pepper prices on 07/09/2024
Pepper prices on July 9 globally
Globally, the pepper market on July 9 showed mixed trends.
Specifically, the price of black pepper Lampung in Indonesia increased slightly by 0.28%, reaching $ 7,162/ton. Meanwhile, the price of white pepper Muntok from this country rose by 0.29%, reaching $ 9,119/ton.
The price of Kuching ASTA black pepper in Malaysia remained stable at $ 7,500/ton, while ASTA white pepper from this country was priced at $ 8,800/ton.
In the Brazilian market, the price of black pepper ASTA 570 decreased by 1.05%, down to $ 7,175/ton.
In Vietnam, the export price of black pepper 500 g/l was traded at $ 6,000/ton, while the 550 g/l variety was priced at $ 6,600/ton. The export price of white pepper remained stable at $ 8,800/ton.
Pepper prices on the global market on July 9 showed slight increases in Indonesia but declines in black pepper from Brazil. Other countries maintained their trading levels from the previous day.
According to the latest weekly report from Ptexim, many experts in Brazil assess that the 2024 season in the country has been severely affected by prolonged drought. Brazil’s production is expected to reach its lowest levels in many years, with an anticipated 20-40% decrease compared to 2023.
If the forecasts by Brazilian experts prove accurate, the pepper market is expected to become more active from September onwards.
Thus, global pepper prices on 07/09/2024 saw slight increases in Indonesia.
Pepper prices on July 9 domestically
In Vietnam, the domestic pepper market on July 9 saw a uniform increase of VND 1,000 compared to the previous day.
Specifically, Dak Lak province purchased pepper at VND 152,000/kg;
Dak Nong province also traded pepper at VND 152,000/kg;
Gia Lai province bought pepper at VND 151,000/kg;
Traders in Dong Nai province traded pepper at VND 151,000/kg;
Pepper in Ba Ria – Vung Tau province increased to VND 151,000/kg;
Traders in Binh Phuoc province were trading pepper at VND 151,000/kg.
The domestic pepper price today has slightly increased, bringing this agricultural product back to the level of VND 152,000/kg.
As of the end of June 2024, Vietnam has exported a total of 142,586 tons of pepper of all types. Among these, black pepper reached 125,959 tons, and white pepper reached 16,627 tons. The total export turnover reached $ 634.2 million, with black pepper accounting for $ 539.9 million and white pepper for $ 94.3 million.
Compared to the same period last year, pepper exports decreased by 6.8% in volume, but export turnover increased by 30.5%. The average export price of black pepper in the first half of 2024 reached 4,365 USD/ton, while white pepper reached $ 5,983/ton, marking increases of $ 922/ton and $ 1,028/ton respectively compared to the same period in 2023.
Also, in the first half of 2024, pepper exports to the United States increased by 44.6%, reaching 37,435 tons (accounting for 26.3% market share). Germany followed with 9,526 tons (an increase of 106.7%), UAE at 8,388 tons (an increase of 15.2%), and India at 8,173 tons (an increase of 45.7%)…
Thus, the domestic pepper price on 07/09/2024 is trading around VND 151,000 – 152,000/kg.
$ 1 = VND 25.204 – Source: Vietcombank
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