Pepper price on 06/14/2024: Strong increase again

Pepper prices on June 14 globally

On the global market, pepper prices on June 14 showed mixed movements.

Accordingly, the price of Lampung black pepper in Indonesia increased slightly by 0.06%, reaching $ 6,452/ton. Meanwhile, the price of Muntok white pepper in this country rose by 0.07%, to $ 8,422/ton.

The price of Kuching ASTA black pepper in Malaysia remained stable at $ 4,900/ton; while the price of ASTA white pepper in this country was still at $ 7,300/ton.

In the Brazilian market, the price of ASTA 570 black pepper dropped sharply by 3.66%, down to $ 8,200/ton.

In Vietnam, the export price for 500 g/l black pepper was $ 7,800/ton; while the 550 g/l type remained at $ 8,000/ton. The export price for white pepper was stable at $ 12,000/ton.

Global pepper prices today showed slight increases in Indonesia but sharp declines in Brazil and remained stable in other markets.

Thus, the global pepper prices on 06/14/2024, experienced mixed changes compared to yesterday.

Pepper prices on June 14 domestically

In the domestic market, pepper prices on June 14 saw a strong resurgence compared to yesterday.

Specifically, in Dak Lak, prices held steady at VND 160,000/kg for purchasing pepper.

Dak Nong saw an increase of VND 2,000, with pepper trading at VND 162,000/kg today.

Gia Lai's pepper prices rose to VND 160,000/kg following a VND 5,000 increase.

In Dong Nai, traders purchased pepper at VND 160,000/kg, up by VND 4,000.

Ba Ria - Vung Tau's pepper prices climbed to VND 161,000/kg, marking a slight increase of VND 1,000.

Meanwhile, in Binh Phuoc, traders engaged in pepper transactions at VND 161,000/kg, representing a notable increase of VND 6,000.

Today, domestic pepper prices have sharply reversed course, increasing by VND 1,000-6,000/kg, stabilizing around a high threshold of VND 162,000/kg.

Recently, some agricultural export companies, such as pepper and coffee, have reported incidents where export containers, upon reaching importers, have been found either short or missing cargo.

In response to these occurrences, representatives from the Agency of Foreign Trade (Ministry of Industry and Trade) stated that there is currently no conclusive evidence pinpointing where and when these cargo losses are happening. The transportation of goods involves multiple stages and various entities handling the cargo.

"In the immediate term, the Agency of Foreign Trade has contacted and discussed with VPSA and Saigon Newport Corporation, urging both parties to convene and exchange directly, provide additional information to clarify the causes of these incidents, and implement measures to enhance security and safety for exported and imported shipments", said the Agency of Foreign Trade representative.

It is expected that on the morning of June 13, VPSA and Saigon Newport Corporation will meet directly to discuss this issue.

Previously, VPSA issued a warning about some members of the association experiencing partial loss of exported cargo. Specifically, importers discovered shortages compared to the contracted weight, while the total weight of the container, including its contents, as recorded by port weighing documents, indicated that the cargo was of sufficient weight at the time of unloading at the port.

Thus, on 06/14/2024, domestic pepper prices are trading around VND 160,000 - 162,000/kg.

$ 1 = VND 25.191 - Source: Vietcombank