Pepper prices today, August 30, 2024, in the domestic market decreased slightly in key localities, trading from 142,000 - 143,500 VND/kg.
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| Pepper price today August 30, 2024: Market fluctuations, import customers benefit the most, export businesses suffer great losses. (Source: Pixabay) |
Pepper price today August 30, 2024 in the domestic market decreased slightly in key localities, trading from 142,000 - 143,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (142,000 VND/kg); Dak Lak (143,5000 VND/kg); Dak Nong (143,000 VND/kg); Ba Ria - Vung Tau (142,000 VND/kg) and Binh Phuoc (142,000 VND/kg).
Thus, after two days of sideways movement, domestic pepper prices today turned to decrease slightly in key localities, with a decrease of 500 - 1,000 VND/kg. The highest pepper price was at 143,500 VND/kg.
Since the beginning of the year, pepper prices have skyrocketed, with the current level doubling compared to the beginning of the year. At its peak in June, pepper prices reached nearly an 8-year high of VND180,000/kg.
The story of rising prices always has two sides, there will be a group that benefits and a group that suffers. Sharing at the recent conference of the Pepper and Spice Association (VPSA), Mr. Ho Tri Nhuan, Director of Gohan Company, said that import customers are the ones who benefit the most while export enterprises suffer great losses.
“In May and June, the export volume increased dramatically. This was also the time when pepper prices peaked at VND170,000 - 180,000/kg. However, the export price was only about VND100,000/kg. Businesses were forced to buy at high prices and sell at low prices. Meanwhile, importers sold at VND140,000/kg in the home country,” Mr. Nhuan shared.
The cause of this situation comes not only from the decline in supply (affected by weather and people's crop conversion trends), but also from speculators.
According to Mr. Nhuan, many people have been holding pepper since the beginning of the year and have taken profits, but then they bought it again at the peak price. Overall, in the market, there are more people who lose than those who make a profit. Those who make a profit only make about 5,000 VND/kg, but those who lose are up to 30,000 - 40,000 VND/kg.
“The market has been so volatile, not simply because of supply and demand but also because of speculation. This year’s speculation has been terrible. Even the top large enterprises have suffered quite a lot,” said Mr. Nhuan.
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 7,511 USD/ton; 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 8,844 USD/ton; 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, up 4.92%; 550 g/l is at 6,500 USD/ton, up 4.62%; white pepper price is at 8,800 USD/ton, up 3.41%. IPC increases Vietnam's pepper export price after many days of stability.
Source: https://baoquocte.vn/gia-tieu-hom-nay-3082024-thi-truong-bien-dong-khach-hang-nhap-khau-huong-loi-nhieu-nhat-doanh-nghiep-xuat-khau-chiu-thiet-hai-lon-284374.html
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