(VAN) Pepper prices on 09/06/2024 dropped by up to VND 3,000, after a long streak of increases. Domestic pepper prices are at VND 149,500 – 150,000/kg.
Latest domestic and global pepper price update on 09/06/2024
Pepper prices on September 6 globally
On the global market, pepper prices on September 6 remained stable across the board.
According to this, the price of black pepper from Lampung, Indonesia, remains at $ 7,521/ton. The price of white pepper from Muntok, Indonesia, holds at $ 8,855/ton.
The price of black pepper Kuching ASTA from Malaysia is stable at $ 8,500/ton; while white pepper ASTA from the same country is priced at $ 10,400/ton.
In Brazil, the price of black pepper ASTA 570 is traded at $ 7,500/ton.
In Vietnam, the price of black pepper for export, type 500 g/l, is traded at $ 6,600/ton; while type 550 g/l is priced at $ 7,000/ton. The price of white pepper for export remains at $ 9,300/ton.
World pepper prices today saw no new fluctuations. Indonesia is currently in the harvest season, followed by Brazil, and early next year, Vietnam will enter its harvest season.
However, pepper prices may still hold strong even during the harvest period if the mindset of stockpiling in anticipation of higher prices remains common among dealers and farmers.
Thus, global pepper prices on 09/06/2024 remained stable compared to the previous day.
Pepper prices on September 6 domestically
Domestically, the pepper market on September 6 reversed sharply compared to the previous day.
Specifically, Dak Lak dropped by VND 3,000, purchasing pepper at VND 150,000/kg.
Pepper prices in Dak Nong also fell by VND 3,000, down to VND 150,000/kg.
In Gia Lai, prices dropped sharply by VND 2,500, bringing pepper prices down to VND 149,500/kg.
Traders in Dong Nai are purchasing pepper at VND 150,000/kg, a decrease of VND 2,000.
In Ba Ria – Vung Tau, prices decreased by VND 2,500, bringing pepper prices down to VND 150,000/kg.
Meanwhile, Binh Phuoc saw pepper prices drop by VND 3,000, now trading at VND 150,000/kg.
Domestic pepper prices today experienced a sharp decline of VND 2,000 – 3,000, ending a 6-day consecutive increase for this agricultural commodity.
A report from the MARD shows that in the first 8 months of 2024, Vietnam exported 185,000 tons of pepper, earning approximately $ 891 million; a slight decrease of 1.4% in quantity but a significant increase of 44.9% in value. Clearly, the target of a billion-dollar export industry for pepper is within reach.
The average export price of pepper for the first 8 months of this year is estimated at $ 4,810/ton, a strong increase of 47% compared to the same period last year. Specifically, in August 2024, pepper exports increased by 9.7% in quantity and a strong 75.1% in value compared to August 2023, due to a 69.6% rise in the average export price.
Thus, domestic pepper prices on 09/06/2024, are trading around VND 149,500 – 150,000/kg.
$ 1 = VND 24.500 – Source: Vietcombank.
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