Pepper price today July 4, 2024, supply shortage, the situation of goods entering the market 'dripping' will continue to support prices

Pepper prices today, July 4, 2024, in the domestic market turned down in key localities, trading from 152,000 - 155,000 VND/kg.

Pepper price today July 4, 2024, supply shortage, the situation of goods entering the market 'dripping' will continue to support prices. (Source: AdobeStock)

Pepper prices today, July 4, 2024, in the domestic market turned down in key localities, trading from 152,000 - 155,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 154,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (152,000 VND/kg); Dak Lak (154,000 VND/kg); Dak Nong (152,000 VND/kg); Ba Ria - Vung Tau (155,000 VND/kg) and Binh Phuoc (155,000 VND/kg).

Thus, domestic pepper prices today turned to decrease in key localities, with a decrease of 2,000 - 5,000 VND/kg. The highest pepper price was recorded at 155,000 VND/kg.

Statistics from the Ministry of Agriculture and Rural Development show that pepper area and output are decreasing, in 2020 the area was more than 130,000 hectares, in 2023 it was only 120,000 hectares, output reached 190,000 tons. It is estimated that this year's pepper output will continue to decrease to only about 170,000 tons, the lowest level in the past 5 years.

According to the Vietnam Pepper and Spice Association (VPSA), in recent years, pepper prices have remained low for a long time, causing a decrease in acreage. Old pepper gardens have been replaced by other crops, especially durian.

In addition, this year's unusually hot and dry weather has caused output to continue to decline sharply. This year's output is expected to be only about 170,000 tons, down 10% compared to last year, the lowest level in the past 5 years.

Industry experts also warn that currently, durian profits are much higher than pepper. Therefore, pepper acreage may decrease as farmers cut down pepper and switch to durian.

According to VPSA estimates, in the first 5 months of this year, Vietnam exported more than 114,400 tons of pepper of all kinds, and it is estimated that the export output in June 2024 will be no less than 25,000 tons. Thus, there are still 7-8 months until the new harvest (expected after Tet from February 2025) while the supply from people and agents is low.

PTEXIM Corp believes that the situation of "dripping" goods entering the market will continue to support pepper prices in the coming time. Currently, the price of black pepper at warehouses for immediate delivery has established a new floor price compared to before.

VPSA has just announced that recently, the price information on the IPC website about Vietnam pepper prices has been significantly different from the information provided by the Association, and at times there have been errors. To avoid psychological fluctuations leading to decisions that cause economic losses, VPSA recommends that farmers, agents, export companies, and foreign customers consult other sources to ensure objectivity and reliability when making buying/selling decisions.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,110 USD/ton, down 0.18%; 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 9,053 USD/ton, down 0.18%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 6,400 USD/ton for 500 g/l, down 1.56%; 550 g/l is at 6,900 USD/ton, down 100 USD/ton; white pepper price is at 9,500 USD/ton. IPC slightly reduced pepper prices in Indonesia, and adjusted down 100 USD/ton for Vietnam's black pepper export price, white pepper remains unchanged.

Source: https://baoquocte.vn/gia-tieu-hom-nay-472024-thieu-hut-nguon-cung-tinh-trang-hang-ra-thi-truong-nho-giot-se-con-ho-tro-gia-277359.html