Pepper prices today, September 12, 2024, in the domestic market recorded an increase in key localities, trading from 152,000 - 155,500 VND/kg.
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| Pepper price today September 12, 2024: The market is bustling, prices are high, the driving force from Chinese customers is still unknown. (Source: Food and Wine) |
Pepper prices today, September 12, 2024, in the domestic market recorded an increase in key localities, trading from 152,000 - 155,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 153,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (153,000 VND/kg); Dak Lak (155,500 VND/kg); Dak Nong (155,000 VND/kg); Ba Ria - Vung Tau (155,000 VND/kg) and Binh Phuoc (152,000 VND/kg).
Thus, after 2 days of stability, domestic pepper prices today recorded an increase of 1,000 - 2,500 VND/kg in most key localities. The highest pepper price was at 155,500 VND/kg.
Ptexim's latest report stated that domestic pepper prices increased by 1.92% last week. Demand was high in many markets such as the EU, the Middle East and Asian countries, while demand from China was quiet compared to last week after pepper prices increased sharply in week 35.
However, by the end of last week, demand from China had increased sharply, making the market more vibrant, the company said.
Therefore, at this time, the expectation that China will buy heavily in the last months of the year to boost the domestic market is still unknown. There is still more than a quarter left until the end of the year, but the export target of 1 billion USD that the pepper industry has set for many years will certainly be achieved in 2024. This is a good result for farmers growing "black gold" this year.
However, there are still many difficulties. It is forecasted that the 2025 pepper crop will be harvested almost entirely in February, with many areas extending to March and April, 1 to 2 months later than previous years due to the impact of prolonged drought. This makes the pepper supply problem even more difficult.
According to the Vietnam Pepper and Spice Association (VPSA), Vietnam’s pepper output in the last crop year decreased by 10% compared to the previous year, down to 170,000 tons. This is also the lowest level in the past 5 years.
Because there is not much pepper left in stock, the export of this item will be lower than in previous years in the last months of this year and will last until the new harvest season. Therefore, global pepper prices are forecast to continue to increase and stay high until Vietnam enters the next harvest season.
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 7,542 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,400 USD/ton, down 100 USD/ton, equivalent to 1.35%; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.
Muntok white pepper price is 9,096 USD/ton, down 0.01%; Malaysian ASTA white pepper price is at 10,900 USD/ton.
Vietnam black pepper prices are trading at 6,600 USD/ton for 500 g/l; 7,000 USD/ton for 550 g/l; and 9,300 USD/ton for white pepper. IPC adjusted pepper prices down in Brazil while keeping them stable in other countries.
Source: https://baoquocte.vn/gia-tieu-hom-nay-1292024-thi-truong-soi-dong-gia-neo-cao-luc-day-tu-khach-hang-trung-quoc-van-la-an-so-285913.html
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