Domestic pepper price today
Pepper price today, July 9, 2024, in the Southeast region increased slightly by 1,000 VND in some localities, trading around 151,000 - 152,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 152,000 VND/kg.
Specifically, Dak Lak pepper price is purchased at 152,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is currently at 151,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Dak Nong pepper price today is recorded at 152,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.
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| Pepper price today July 9, 2024: The upward trend has not stopped yet, the highest in the Central Highlands is 152,000 VND/kg |
In the Southeast region, pepper prices today increased by VND1,000/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it was VND151,000/kg; in Binh Phuoc, pepper prices were VND151,000/kg.
Domestic pepper prices today are trading at 151,000 - 152,000 VND/kg. Thus, domestic pepper prices today increased by 1,000 VND/kg in some key localities compared to yesterday. In all localities, pepper prices are at 151,000 VND/kg or higher. The highest pepper price was recorded at 152,000 VND/kg.
World pepper price today
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,162 USD/ton, up 0.28%; the price of Brazilian black pepper ASTA 570 at 7,250 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 9,019 USD/ton, up 0.28%; Malaysian ASTA white pepper price is at 8,800 USD/ton.
Vietnam black pepper price is traded at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton.
Domestic pepper price on July 9 , 2024
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Brazil’s 2024 pepper harvest is not expected to hit the market for another two months, with output likely to be down 20-25%. As of the end of May 2024, Brazil had exported 31,846 tons of pepper, down 8% year-on-year.
In the long term, in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption demand. Ptexim Corp's market update report last week stated that the amount of pepper supplied to the market is not much. Transportation costs continue to increase rapidly and are forecast to remain high until 2025.
The pepper market in June witnessed strong fluctuations, making many investors and pepper growers "restless". Experts, businesses and the Vietnam Pepper and Spice Association all agree that pepper prices will increase in the medium and long term due to a shortage of supply and recovering demand.
Speculative activities are also believed to have a certain impact on the market. When pepper prices increase, many investors enter the market with the aim of making short-term profits, making price fluctuations even more complicated.
In general, the pepper market is currently in a rather unpredictable phase. Enterprises and pepper growers need to closely monitor the market and have a reasonable business strategy to limit risks and optimize profits. Authorities also need to take measures to regulate the market, limit speculative activities, contribute to stabilizing prices and protecting consumer interests.
*Information for reference only. Prices may vary depending on time and location.
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