(VAN) Pepper prices on 06/26/2024 fluctuated in different directions. Domestic pepper prices decreased by VND 1,000, reaching VND 144,000 -146,000/kg.
Update on pepper prices domestically and globally on 06/26/2024
Pepper prices on June 26 globally
On the global stage, the pepper market exhibited mixed fluctuations.
Specifically, Indonesia’s Lampung black pepper saw a slight increase of 0.31%, reaching $ 7,112/ton. Meanwhile, the country’s Muntok white pepper reversed course with a 0.32% increase, hitting $ 9,056/ton.
Malaysia’s Kuching ASTA black pepper remained stable at $ 7,500/ton, while its ASTA white pepper was priced at $ 8,800/ton.
In Brazil, ASTA 570 black pepper dropped to $ 7,500/ton, marking a 4.17% increase.
In Vietnam, export prices for 500 g/l black pepper decreased by an additional 3.51%, trading at $ 5,700/ton. The 550 g/l variety also saw a decline of 8.62% to $ 5,800/ton. White pepper export prices fell sharply to $ 7,900/ton, marking an 11.39% decrease.
World pepper prices today have increased in Indonesia and Brazil, while Vietnam’s export pepper prices have sharply decreased. Other pepper markets have remained stable.
Thus, global pepper prices on 06/26/2024 fluctuated differently compared to yesterday.
Pepper prices on June 26 domestically
In the domestic market, pepper prices have slightly decreased in some areas compared to yesterday.
Specifically, in Dak Lak, pepper is still being purchased at VND 146,000/kg.
Pepper in Dak Nong is trading at VND 145,000/kg today.
Gia Lai continues to buy pepper at VND 145,000/kg.
Decreasing by another VND 1,000, traders in Dong Nai are trading pepper at VND 144,000/kg.
Similarly, pepper in Ba Ria – Vung Tau has decreased to VND 145,000/kg today.
Meanwhile, traders in Binh Phuoc are trading pepper at VND 145,000/kg, decreasing by VND 1,000.
Pepper prices domestically today have decreased by another 1,000 VND/kg in Dong Nai, Vung Tau, and Binh Phuoc, while the Central Highlands region remains unchanged. Currently, the highest pepper price is VND 146,000/kg.
Earlier this week, the domestic pepper market experienced its second sharp decline since the beginning of the month. Alongside this, export pepper prices have continuously adjusted downward, impacting the domestic market.
On June 12, domestic pepper prices reached a record high in years at VND 180,000/kg. Immediately after, selling pressure at the peak led to a price drop of up to VND 20,000.
The pepper market fluctuated around VND 160,000/kg for nearly 10 days before experiencing a significant decrease of VND 15,000.
Experts believe that reaching VND 180,000/kg caused buyers to mostly stay out of the market. Therefore, adjusting prices downward is reasonable at this time. However, the floor price for this decline and how many more downward adjustments will occur remain questions of concern.
Currently, most experts, businesses, and the VSPA anticipate an upward trend in the medium and long term.
Thus, domestic pepper prices on 06/6/2024, are trading around VND 144,000 – 146,000/kg.
$ 1 = VND 25.220 – Source: Vietcombank
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