Pepper prices today, August 4, 2024, in the domestic market continued to decrease sharply in key localities, trading from 146,000 - 146,500 VND/kg.
 |
| Pepper price today August 4, 2024: World market reacts in mixed ways, domestic market is less vibrant, concerns about supply shortage. (Source: Public Goods Blog) |
Pepper prices today, August 4, 2024, in the domestic market continued to decrease sharply in key localities, trading from 146,000 - 146,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 146,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (146,000 VND/kg); Dak Lak (146,500 VND/kg); Dak Nong (146,000 VND/kg); Ba Ria - Vung Tau (146,000 VND/kg) and Binh Phuoc (146,000 VND/kg).
Thus, following yesterday's downward trend, domestic pepper prices continued to fall in key localities today, down 1,000 - 2,000 VND/kg. The highest pepper price was at 146,500 VND/kg.
According to the Vietnam Pepper and Spice Association, our country's pepper exports in the first 6 months of 2024 reached 142,500 tons, while the harvest output in 2024 reached about 170,000 tons, so the remaining output is estimated at about 28,000 tons.
The inventory from the 2023 crop carried over, plus the import volume in 2024 of about 40,000-45,000 tons (including unofficial imports), shows that the export source from August until the end of the year will be lower than every year and will last until March 2025 when the 2025 crop is expected to be harvested. It is forecasted that pepper prices will have unusual fluctuations, such as on June 11, when the price increased sharply by 20,000 VND in the morning but fell sharply again in the afternoon.
In early August, the domestic pepper market price was still hovering around the 147,000 - 150,000 VND/kg mark, despite many comments about domestic and global supply shortages. Both sellers and buyers are currently waiting for the latest market movements as Indonesia is expected to harvest its pepper crop in August.
Some experts continue to comment that signs of supply shortage compared to demand will continue to be recorded and reflected by the market in the coming time until the crop season.
Brazil currently has 3 sterilized pepper factories and is building 2 more factories and will complete them in 2025. In the future, Brazilian pepper will compete better with Vietnam, so the imported supply will be less, so Vietnamese businesses need to be proactive in raw material sources.
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 7,176 USD/ton; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 8,793 USD/ton; Malaysian ASTA white pepper price is at 10,400 USD/ton.
Vietnam's black pepper price is trading at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton. At the end of the week, while the domestic market in Vietnam decreased, IPC continued to adjust pepper prices in Indonesia and Malaysia.
IPC commented that the pepper market continued to have mixed reactions this week. After decreasing in the past 3 weeks, domestic and international Indian pepper prices both tended to increase this week. Meanwhile, Indonesian black pepper prices have been stable in recent weeks.
Comment (0)