Pepper prices today, October 3, 2024, in the domestic market continued to fluctuate in key localities, trading from 147,000 - 149,000 VND/kg.
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| Pepper price today October 3, 2024: Growers benefit, speculative hoarding, purchasing businesses face difficulties. (Source: Borneo Talk) |
Pepper prices today, October 3, 2024, in the domestic market continued to fluctuate in key localities, trading from 147,000 - 149,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 147,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (148,000 VND/kg); Dak Lak (149,000 VND/kg); Dak Nong (148,000 VND/kg); Ba Ria - Vung Tau (148,000 VND/kg) and Binh Phuoc (149,000 VND/kg).
Thus, following yesterday's developments, domestic pepper prices today are mixed in key localities, with increases recorded in Dak Lak and Binh Phuoc, decreases in Gia Lai, Dak Nong and stability in other growing areas. The highest pepper price remains at 149,000 VND/kg.
Mr. Phan Minh Thong - Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, acknowledged that the Vietnamese pepper industry is benefiting from high export prices due to limited supply.
This is the year pepper farmers benefited because the selling price increased too high. From 87,000 VND/kg in the first month of the year to 150,000 VND/kg as it is now. However, export enterprises cannot buy much domestic pepper, like this year, Phuc Sinh had to import a lot of pepper from Brazil and Indonesia. Pepper is kept by farmers for speculation, and there is also little because this year's pepper output has decreased, not to mention the prolonged drought making pepper supply increasingly difficult.
According to the General Department of Customs, in the first 9 months of 2024, Vietnam sold more than 200,000 tons of pepper to the market, earning more than 1 billion USD, an increase of nearly 47% in value over the same period in 2023, due to high selling prices at an average of nearly 4,950 USD/ton.
In September 2024 alone, Vietnam exported 20,000 tons of pepper worth 125 million USD, up 10.4% in volume and 84.9% in value over the same period last year.
According to the assessment, pepper exports in the fourth quarter of this year will depend on the release of multi-year carryover inventories held by large investors and additional import volume.
Currently, domestic pepper trading is quite quiet when the domestic market supply is not much. Therefore, many large investors are hoarding goods and selling in small quantities to wait for market movements. According to many experts, domestic pepper prices may exceed 160,000 VND/kg in the near future.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,939 USD/ton; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,900 USD/ton.
Muntok white pepper price is 9,278 USD/ton; Malaysian ASTA white pepper price is at 11,400 USD/ton.
Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton.
Source: https://baoquocte.vn/gia-tieu-hom-nay-3102024-nguoi-trong-duoc-huong-loi-gam-hang-dau-co-doanh-nghiep-thu-mua-gap-kho-288509.html
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