Pepper price today, September 6, 2024, in the domestic market continued to increase in key localities, trading from 152,000 - 153,000 VND/kg.
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| Pepper price today September 6, 2024: Extending the increase chain, supply shortage, Vietnamese pepper export price increases sharply. (Source: Pinterest) |
Pepper price today, September 6, 2024, in the domestic market continued to increase in key localities, trading from 152,000 - 153,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 152,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (151,000 VND/kg); Dak Lak (153,000 VND/kg); Dak Nong (153,000 VND/kg); Ba Ria - Vung Tau (152,500 VND/kg) and Binh Phuoc (153,000 VND/kg).
Thus, continuing the upward trend of the past 5 days, domestic pepper prices today continued to rise in all key localities, increasing by 1,000 VND/kg. This is the 6th consecutive day of increase in the market. The highest pepper price is at 153,000 VND/kg.
Limited supply while demand is high is said to be the main reason for the sharp increase in pepper prices in recent times.
In the first 8 months of the year, it is estimated that Vietnam exported a total of about 185,000 tons of pepper with a revenue of 891 million USD, down 1.4% in volume but up 44.9% in value compared to the same period last year. Pepper export price in 8 months increased by 47%, reaching an average of 4,810 USD/ton.
Thus, Vietnam exported its entire harvest, estimated at about 170,000 tons, in the last crop year.
Some experts believe that signs of supply shortage compared to demand will continue to be recorded and reflected in the market in the coming time until the crop season.
According to the Vietnam Pepper and Spice Association (VPSA), the inventory from the 2023 crop carried over plus the import volume in 2024 of about 40,000 - 45,000 tons (including informal imports) shows that the export source from August until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.
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 7,521 USD/ton, up 0.44%; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton, up 500 USD/ton, equivalent to 6.67%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 8,855 USD/ton, up 0.43%; Malaysian ASTA white pepper price is at 10,400 USD/ton.
Vietnam's black pepper price is trading at 6,600 USD/ton for 500 g/l, up 7.58%; 550 g/l is at 7,000 USD/ton, up 7.14%; white pepper price is at 9,300 USD/ton, up 5.38%. IPC simultaneously increased pepper prices in Brazil and Indonesia. With Vietnam's pepper export price, this organization adjusted a strong increase of 500 USD/ton for both black and white pepper.
Source: https://baoquocte.vn/gia-tieu-hom-nay-692024-noi-dai-chuoi-tang-thieu-hut-nguon-cung-tieu-viet-xuat-khau-tang-gia-manh-285158.html
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