Pepper prices today, September 4, 2024, in the domestic market continued to increase in key localities, trading from 149,500 - 150,000 VND/kg.
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| Pepper price today September 4, 2024: The market is going up, Vietnam continues to be the largest pepper supplier for the world's number 1 economy. (Source: Public Goods Blog) |
Pepper prices today, September 4, 2024, in the domestic market continued to increase in key localities, trading from 149,500 - 150,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 150,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (149,000 VND/kg); Dak Lak (150,000 VND/kg); Dak Nong (150,000 VND/kg); Ba Ria - Vung Tau (149,500 VND/kg) and Binh Phuoc (150,000 VND/kg).
Thus, continuing the increase of yesterday, domestic pepper prices today increased slightly in Gia Lai and Ba Ria - Vung Tau, an increase of 500 VND/kg; while remaining stable in other key growing areas. This is the 4th consecutive day of increase in the market. The highest pepper price remains at 150,000 VND/kg.
According to the Import-Export Department (Ministry of Industry and Trade), global pepper supply is supplemented as Indonesia enters a new harvest season, starting in July. However, Brazil, the world's second largest black pepper producer, is facing continuous crop failures due to drought.
According to experts, signs of supply shortage compared to demand will continue to be recorded in the market in the coming time. In addition, rapidly increasing freight costs and port congestion in Asia also affect prices in import markets, and may cause shipping delays, causing prices to increase in the medium and long term.
According to data from the US International Trade Commission (USITC), pepper imports in June 2024 reached 8,177 tons, up sharply by 47.7% over the same period last year. Thus, pepper imports of the world's number 1 largest economy have increased for the 6th consecutive month compared to the same period last year.
In the first 6 months of the year, the US imported 45,663 tons of pepper worth 215.8 million USD, up 35.7% in volume and 38.7% in value over the same period last year.
Regarding the supply market, Vietnam continued to be the largest source of pepper in the first 6 months of the year, accounting for 76% of the total import volume with 34,914 tons, worth more than 161.5 million USD, up 31.1% in volume and 37.1% in value over the same period last year.
In addition, US pepper imports from India reached 3,892 tons, up 35% and accounting for 9% of the market share; Indonesia reached 3,670 tons, up 132.2% and accounting for 8%; Brazil reached 1,711 tons, up 57% and accounting for 4%...
In the first 6 months of this year, while pepper export prices of all countries to the US decreased, Vietnam's alone increased by 4.5% to an average of 4,625 USD/ton. This price is higher than Brazil's 4,044 USD/ton and Brazil's 4,615 USD/ton, but lower than India's 4,966 USD/ton and Indonesia's 5,003 USD/ton.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,498 USD/ton, down 0.41%; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton, up 7.86%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 8,829 USD/ton, down 0.41%; Malaysian ASTA white pepper price is at 10,400 USD/ton.
Vietnam black pepper prices are trading at 6,100 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; white pepper prices are at 8,800 USD/ton. IPC continues to reduce pepper prices in Indonesia, but increases sharply in Brazil.
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