Pepper price today, November 7, 2024 in the domestic market is stable in some key localities, trading from 140,000 - 141,000 VND/kg.
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| Pepper price today November 7, 2024: The market is being adjusted to its true value, with the possibility of entering a new growth cycle. (Source: Public Goods Blog) |
Pepper price today, November 7, 2024 in the domestic market is stable in some key localities, trading from 140,000 - 141,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 140,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (140,000 VND/kg); Dak Lak (141,000 VND/kg); Dak Nong (141,000 VND/kg); Ba Ria - Vung Tau (140,000 VND/kg) and Binh Phuoc (140,000 VND/kg).
Thus, keeping the horizontal trend, domestic pepper prices today are stable in most key growing areas, recording a decrease of 1,000 VND/kg in chives in Ba Ria - Vung Tau. This is the 4th consecutive day of stability in the domestic market. The highest pepper price is at 141,000 VND/kg.
Recently, the market has been assessed to have pushed prices higher than the actual supply and demand. Experts say that pepper prices are being adjusted to their true value at the present time.
Cash flow into coffee and weak demand are factors hindering the growth of pepper. The market is at risk of breaking the 140,000 VND/kg mark.
Globally, Southeast Asian countries are also reducing pepper prices amid the rising US dollar. Currently, the global pepper market is valued at 5.43 billion USD, with an average growth forecast of more than 20% in the period 2024 - 2032.
According to forecasts from many sources, pepper has entered a new price increase cycle. This cycle will last 10 - 15 years and the price could reach 300,000 VND/kg.
According to Nong Nghiep Newspaper , after many days of being affected by heavy rain caused by storm No. 6, a series of pepper gardens of people in Gio An commune, Gio Linh district, Quang Tri province were flooded.
After the water receded, many underground water sources continuously appeared, causing the pepper plant roots to be at risk of being flooded and invaded by fungi. This situation appeared after the historic flood in October 2020, causing dozens of hectares of pepper in Gio An commune to die and be affected.
Mr. Le Phuoc Hieu, Vice Chairman of Gio An Commune People's Committee, said that the water vein that appeared in 2020 caused nearly 20 hectares of pepper in the locality to have yellow leaves, rotten roots and die completely; more than 60 hectares of pepper were affected in productivity and quality, and it took a long time to recover.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,665 USD/ton, down 0.09%; the price of Brazilian black pepper ASTA 570 at 6,300 USD/ton, down 1.59%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 9,125 USD/ton, down 0.09%; Malaysian ASTA white pepper price is at 11,000 USD/ton.
Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price is at 9,500 USD/ton. IPC continues to reduce pepper prices in Southeast Asian countries.
Source: https://baoquocte.vn/gia-tieu-hom-nay-7112024-thi-truong-dang-duoc-dieu-chinh-ve-dung-gia-tri-that-kha-nang-buoc-vao-chu-ky-tang-moi-292808.html
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