Pepper price today June 30, 2024, pepper plants reaffirm their position, transactions are small, the market is 'dancing' and unpredictable

Pepper prices today, June 30, 2024, in the domestic market turned to decrease sharply in key localities, trading from 150,000 - 155,000 VND/kg.

Pepper price today June 30, 2024, pepper reaffirms its position, transactions are small, the market is 'dancing' and unpredictable. (Source: Incredibleman)

Pepper prices today, June 30, 2024, in the domestic market turned to decrease sharply in key localities, trading from 150,000 - 155,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 150,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (150,000 VND/kg); Dak Lak (152,000 VND/kg); Dak Nong (155,000 VND/kg); Ba Ria - Vung Tau (151,000 VND/kg) and Binh Phuoc (152,000 VND/kg).

Thus, domestic pepper prices today turned to decrease sharply in key localities, the decrease was from 5,000 - 8,000 VND/kg. The highest pepper price was recorded at 155,000 VND/kg.

After many years of hitting rock bottom, pepper prices have begun to rise again. With the growth momentum of recent times, pepper is reasserting its position in the Central Highlands region.

According to information in the Industry and Trade Magazine , Mr. Nguyen Dinh Trung (Ia Tiem commune, Chu Se district, Gia Lai province) said that his family has 600 pepper pillars that have been harvested but are not in a hurry to sell them but instead store them in the family warehouse.

“Currently, pepper prices are on the rise again. Traders come to people’s homes to buy pepper, but people still don’t want to sell and are waiting for prices to increase further. In addition, people mainly sell to pepper purchasing businesses in the district and some neighboring areas to avoid being forced to lower prices,” said Mr. Nguyen Dinh Trung.

Many agents and businesses said that the trading volume in the market is currently very “drop by drop”. This year, with low output while demand has recovered well, the amount of inventory is still low.

In recent days, domestic pepper prices have fluctuated with strong intensity. In the morning, it increased by 15,000 VND/kg, but in the afternoon, it decreased by 10,000 VND/kg. Experts assess that the market is unpredictable. Low supply, farmers holding pepper, causing traders/enterprises to increase sharply to buy and then decrease deeply to speculate. Agents holding farmers' goods, now turn to squeeze prices to force farmers to close their deals early.

The strong fluctuations in domestic pepper prices also caused the export pepper prices listed by the International Pepper Community (IPC) to "dance" accordingly. Last week, the website listing the pepper prices (reference) of this organization for Vietnamese pepper continuously changed. People were happy when the export pepper prices skyrocketed, but the next day they saw the pepper prices listed on IPC drop sharply.

The market is currently uncertain. According to experts, the medium and long-term upward trend of Vietnamese pepper prices is clear. However, the market is being heavily influenced by speculation, so farmers who are still storing pepper should consider and be cautious in selling when necessary, and avoid selling based on rumors.

In the world market, at the end of the most recent trading session, IPC listed the price of Lampung black pepper (Indonesia) at 7,106 USD/ton, up 0.17%; the price of Brazilian black pepper ASTA 570 at 7,300 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,048 USD/ton, up 0.17%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 6,500 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,500 USD/ton. IPC listed a slight increase in price in Indonesia, sharply increasing Vietnam's pepper export price.

Source: https://baoquocte.vn/gia-tieu-hom-nay-3062024-cay-ho-tieu-tai-khang-dinh-vi-the-giao-dich-nho-giot-thi-truong-nhan-mua-kho-doan-dinh-276822.html