Pepper price today, November 24, 2024 in the domestic market decreased slightly in some key localities, trading from 138,000 - 139,000 VND/kg.
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| Pepper price today November 24, 2024: Losing important milestone, market fluctuations, Vietnam pepper export price highest since 2017. (Source: Times of India) |
Pepper price today, November 24, 2024 in the domestic market decreased slightly in some key localities, trading from 138,000 - 139,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 138,500 VND/kg.
Pepper prices today in the provinces of Dong Nai (138,500 VND/kg); Dak Lak (139,000 VND/kg); Dak Nong (139,000 VND/kg); Ba Ria - Vung Tau (139,000 VND/kg) and Binh Phuoc (138,000 VND/kg).
Thus, domestic pepper prices today decreased across most key growing areas, by 500 - 2,000 VND/kg. The highest pepper price reached 139,000 VND/kg.
Since the beginning of the week, the domestic market has been fluctuating continuously. The high USD and weak demand continue to reduce pepper prices, not only in Vietnam but also globally.
Investors have recently reduced their expectations for the US Federal Reserve’s interest rate cut roadmap. The US dollar makes goods more expensive, people tighten their spending, reducing demand for pepper.
In addition, data shows that demand from China this year is low, perhaps the lowest in many years. If there is more purchasing motivation from this country, pepper prices in Vietnam in particular and exporting countries in general will increase again.
According to the General Department of Customs, Vietnam's pepper exports in the first 15 days of November only reached 7,642 tons, worth 52.4 million USD, down 9.9% in volume and 5% in value compared to the first half of October, and down 18.8% in volume compared to the same period last year but still up 44.3% in value.
Accumulated from the beginning of the year to November 15, pepper exports reached 226,366 tons, worth 1.16 billion USD, down 3.6% in volume but up 46.9% in value over the same period thanks to high prices.
Since the beginning of the year, Vietnam's pepper export price has increased by 52.3% over the same period last year, reaching an average of 5,137 USD/ton.
In the first half of November alone, the export price of this item reached 6,856 USD/ton, up 4.7% compared to October and up 77.6% compared to the same period last year. This is also the highest price recorded since January 2017.
Not only Vietnam, the pepper export volume of Brazil - the world's second largest pepper producer and supplier - also recorded a decrease of 19.3% in the first 10 months of the year, reaching only 52,988 tons. However, in return, pepper exports of Indonesia and India increased sharply at double-digit levels.
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 6,470 USD/ton; the price of Brazilian black pepper ASTA 570 at 6,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.
Muntok white pepper price is 9,055 USD/ton; ASTA Malaysian white pepper price is at 10,500 USD/ton.
Vietnam's black pepper price is trading at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 9,400 USD/ton. Pepper prices in other countries remained stable over the weekend.
The International Pepper Community said that the pepper market this week showed mixed reactions, with only Sri Lankan domestic black pepper continuing to be reported to increase. Both domestic and international Indian pepper prices showed a downward trend this week. As the Indonesian Rupiah weakened against the USD, the country’s pepper prices also showed a downward trend.
Source: https://baoquocte.vn/gia-tieu-hom-nay-24112024-mat-moc-quan-trong-thi-truong-bien-dong-gia-ho-tieu-viet-nam-xuat-khau-cao-nhat-tu-2017-294853.html
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