(VAN) Pepper prices on 09/19/2024, saw a sharp decline of up to VND 5,000 in some areas. Domestic pepper is currently trading around VND 148,000 – 150,500/kg.
Latest domestic and global pepper prices update on 09/19/2024
Pepper prices on September 19 globally
Globally, pepper prices on September 19 showed slight declines in Indonesia.
Specifically, the price of black pepper from Lampung, Indonesia, dropped by 0.08% to $ 7,589/ton. Meanwhile, the price of white pepper from Muntok, Indonesia, also decreased by 0.08%, reaching $ 9,154/ton.
In Malaysia, Kuching ASTA black pepper is priced at $ 8,800/ton, while ASTA white pepper is at $ 10,900/ton.
In the Brazilian market, black pepper ASTA 570 is trading at $ 7,000/ton.
In Vietnam, black pepper for export (500 g/l) is trading at $ 7,100/ton, while the 550 g/l type is priced at $ 7,225/ton. White pepper for export is currently at $ 10,150/ton.
Global pepper prices on 09/19/2024, turned down in Indonesia but remained stable in other countries.
Indonesia’s key pepper export markets include China, Vietnam, the US, and India.
Vietnam is the second-largest customer of Indonesia’s pepper industry in the first seven months of the year, with a volume reaching 4,492 tons, nearly doubling (98% increase) compared to the same period last year, accounting for nearly 20% of Indonesia’s total pepper exports. The import price stood at $ 4,430/ton, up 3.6%.
Meanwhile, China remained Indonesia’s largest pepper export market, with a volume of 4,844 tons, a sharp increase of 63.1% compared to the same period last year, accounting for 21.2% of the market share.
In addition, Indonesia’s pepper exports to other major markets also surged in the first seven months of the year, including the US (+64.5%), India (+15.9%), Japan (+17.6%), and Singapore (+123.1%).
This year, Indonesia’s harvest was expected to take place in August (later than the usual July), but the yield outlook remains unfavorable.
Thus, global pepper prices on 09/19/2024, have turned down in Indonesia compared to yesterday.
Pepper prices on 09/19/2024 domestically
In the domestic market, pepper prices on September 19 dropped sharply by up to VND 5,000 compared to the previous day.
Specifically, Dak Lak saw a decrease of VND 4,500, with pepper being purchased at VND 150,500/kg.
In Dak Nong, prices dropped by VND 5,000, falling to VND 150,000/kg.
Pepper prices in Gia Lai fell to VND 148,000/kg, down by VND 4,000.
Similarly, traders in Dong Nai bought pepper at VND 148,000/kg.
Prices in Ba Ria – Vung Tau dropped to VND 148,000/kg, down by VND 4,000.
In Binh Phuoc, prices also fell by VND 4,000, with pepper trading at VND 148,000/kg.
Domestic pepper prices today continue to decline sharply, dropping by an additional VND 4,000 – 5,000, pulling the agricultural product down to the range of VND 150,000/kg.
Thus, domestic pepper prices on 09/19/2024, are trading around VND 148,000 – 150,500/kg.
$ 1 = VND 24.410 – Source: Vietcombank.
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