The domestic market has no additional factors supporting the upward trend, the world has mixed reactions

Pepper price today, November 12, 2024 in the domestic market is stable in some key localities, trading from 139,000 - 141,200 VND/kg.

Pepper price today November 12, 2024: The domestic market has no additional factors supporting the upward trend, the world has mixed reactions. (Source: Times of India)

Pepper price today, November 12, 2024 in the domestic market remained stable in some key localities, trading from 139,000 - 141,200 VND/kg.

Specifically, pepper price today in Gia Lai is at 140,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (139,000 VND/kg); Dak Lak (141,000 VND/kg); Dak Nong (141,200 VND/kg); Ba Ria - Vung Tau (140,000 VND/kg) and Binh Phuoc (139,500 VND/kg).

Thus, domestic pepper prices today remained stable in most key growing areas. The highest pepper price was at 141,200 VND/kg.

Commenting on the market this week, experts said it is still around the 140,000 VND mark as there are no additional factors supporting the upward trend. The cash flow is shifting to coffee and the increased stockpiling by farmers from the last crop has caused the market to have few transactions.

In recent years, farmers have focused on capturing market information and changing the way they sell, building warehouses to store pepper at home and only selling when they need money.

According to the International Pepper Community (IPC), the world market had mixed reactions in the first week of November. Domestic and international prices of Indian pepper continued to increase since last week.

Accordingly, domestic and international prices of Indonesian pepper were stable this week. At the same time, the export price of Vietnamese pepper remained stable at a high level.

By the end of October, Vietnam had exported a total of 219,387 tons of pepper of all kinds with a turnover of more than 1.1 billion USD, a slight decrease of 1.9% in volume but a sharp increase of 48% in turnover compared to the same period last year.

The average export price of black pepper in 10 months reached 4,971 USD/ton, an increase of 1,528 USD/ton and white pepper reached 6,626 USD/ton, an increase of 1,671 USD/ton over the same period in 2023.

According to experts, Vietnam’s pepper is mainly exported and the reduced supply is the main reason for the high price. This year, businesses are having difficulty purchasing pepper due to reduced output.

On the other hand, in the first 10 months of 2024, Vietnam imported 28,596 tons of pepper of all kinds, of which black pepper reached 25,456 tons and white pepper reached 3,140 tons, with a total import turnover of 131.3 million USD. Accordingly, the import volume increased by 27.1% and the turnover increased by 78.5% over the same period last year.

The top importers include: Olam Vietnam 9,510 tons, Tran Chau 3,685 tons, Phuc Sinh 1,942 tons, KSS Vietnam 1,497 tons and Phuc Thinh 1,396 tons.

Source: https://baoquocte.vn/gia-tieu-hom-nay-12112024-thi-truong-trong-nuoc-chua-co-them-yeu-to-ung-ho-xu-huong-tang-the-gioi-phan-ung-trai-chieu-293353.html