Pepper price today, November 19, 2024 in the domestic market is stable in some key localities, trading from 138,500 - 140,000 VND/kg.
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| Pepper price today November 19, 2024: Weak demand continues to hold back the market, Vietnamese pepper exports to the world's largest economy increase sharply. (Source: Shutterstock) |
Pepper price today, November 19, 2024 in the domestic market is stable in some key localities, trading from 138,500 - 140,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 139,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (138,500 VND/kg); Dak Lak (139,500 VND/kg); Dak Nong (140,000 VND/kg); Ba Ria - Vung Tau (139,000 VND/kg) and Binh Phuoc (139,000 VND/kg).
Thus, continuing yesterday's upward trend, domestic pepper prices today are stable in most key growing areas. The highest pepper price is at 140,000 VND/kg.
Commenting on the market this week, experts predict that there will be no new supporting factors. Pepper is still under pressure as cash flows strongly into coffee trading.
The US dollar rose 1.6% last week. This increase pushed the index above the key resistance level of 106 and hit a high of 107.06 before closing the week at 106.68. Together with weak demand, pepper prices continued to be restrained.
However, low supply will help prices fluctuate around VND140,000/kg, with a slight upward trend this week.
According to data from the General Department of Vietnam Customs, the US was Vietnam's largest pepper export market in the first 10 months of the year with a volume of 64,112 tons, worth 337.8 million USD, a sharp increase of 48.25% in volume and 95.2% in value over the same period last year, accounting for 29.3% in volume and 30.4% of the total pepper export value of our country.
Pepper export price to this market in 10 months reached an average of 5,269 USD/ton, up 31.7%.
According to data from the US International Trade Commission (USITC), US pepper imports in September reached 9,793 tons, up 32.8% over the previous month and up 57.6% over the same period last year.
In the first 9 months of the year, the country's pepper imports reached 73,087 tons, worth 365.5 million USD, up 43.3% in volume and 55.8% in value over the same period last year.
Of which, Vietnam is the largest pepper supplier to the US market, with a volume of 56,820 tons, worth 281.3 million USD, up 42.8% in volume and 60.1% in value compared to the same period last year. Vietnam's pepper market share in the US's total imports accounts for 77.7% of the total volume and 77% of the total value.
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.
Vietnamese black pepper prices are trading at 6,200 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 9,400 USD/ton for white pepper. IPC assessed that in the pepper market this week, only domestic Sri Lankan black pepper was reported to increase.
Source: https://baoquocte.vn/gia-tieu-hom-nay-19112024-nhu-cau-yeu-tiep-tuc-kim-ham-thi-truong-xuat-khau-tieu-viet-sang-nen-kinh-te-lon-nhat-the-gioi-tang-manh-294189.html
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