Pepper prices today, September 2, 2024, in the domestic market continued to increase in key localities, trading from 144,000 - 145,500 VND/kg.
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| Pepper price today September 2, 2024: Continuing the upward trend, supply decreasing, purchasing power from the EU, US and Chinese markets has not recovered. (Source: Times of India) |
Pepper prices today, September 2, 2024, in the domestic market continued to increase in key localities, trading from 144,000 - 145,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 144,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (144,000 VND/kg); Dak Lak (146,000 VND/kg); Dak Nong (145,500 VND/kg); Ba Ria - Vung Tau (145,500 VND/kg) and Binh Phuoc (145,500 VND/kg).
Thus, continuing yesterday's increase, domestic pepper prices today increased slightly in key localities, increasing from 500 - 1,000 VND/kg. This is the second consecutive day of increase in the market. The highest pepper price is at 145,000 VND/kg.
Last week, pepper prices increased slightly by 1,000 - 2,000 VND in localities. At the end of August 2024, the domestic market lost 3,000 - 4,000 VND/kg. Pepper prices fluctuated continuously during the month, recovering at the end of the month.
According to a recent report from the Import-Export Department (Ministry of Industry and Trade), world pepper prices are forecast to remain high in the coming time.
“Brazil is currently the second largest producer and exporter of black pepper in the world after Vietnam, accounting for 17-18% of the total global supply. Therefore, the continuous crop failure in this country will have an impact on the market, expected to push global pepper prices up in the last months of 2024 when pepper supply from other major producing countries such as Vietnam, Malaysia, Indonesia, etc. also decreases,” the Import-Export Department commented.
Previously, the Vietnam Pepper and Spice Association (VPSA) also said that climate change (La Nina) is expected to affect Brazilian pepper production in the coming months.
In Indonesia, the harvest is expected to take place in August (later than usual from July), but the yield is also not promising.
In Vietnam, pepper output in the last crop year also decreased by 10% compared to the previous year, down to 170,000 tons. This is also the lowest level in the past 5 years.
Assessing the recent price drop in the domestic pepper market, VPSA said that although there is not much stock left in the market, purchasing power from European and American markets has decreased, while the Chinese market has not yet recovered its strong purchasing power.
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 7,529 USD/ton, down 0.41%; the price of Brazilian black pepper ASTA 570 at 6,450 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 8,865 USD/ton, down 0.41%; Malaysian ASTA white pepper price is at 10,400 USD/ton.
Vietnam's black pepper price is trading at 6,100 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 8,800 USD/ton. According to statistics, IPC has increased pepper prices in Southeast Asian countries, most strongly in Malaysia, while adjusting them down in Brazil.
Source: https://baoquocte.vn/gia-tieu-hom-nay-292024-noi-dai-da-tang-nguon-cung-giam-suc-mua-tu-thi-truong-eu-my-va-trung-quoc-chua-phuc-hoi-284698.html
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