January 31, 2025 | 15:51 GMT +7
Hotline: 0913.378.918
January 31, 2025 | 15:51 GMT +7
Hotline: 0913.378.918
Update on pepper prices both domestically and globally on 05/11/2024
The global pepper market on May 11 continues to maintain stability.
In Indonesia, the price of Lampung pepper remains unchanged at $ 4,902/ton. Meanwhile, the price of Muntok white pepper from the same country stays at $ 6,447/ton.
The price of Kuching ASTA black pepper from Malaysia remains stable at $ 4,900/ton, while the price of white pepper ASTA from the same country remains at $ 7,300/ton.
In the Brazilian market, the price of ASTA 570 black pepper remains at $ 4,90/ton.
In Vietnam, the export prices of black pepper with 500 and 550 g/l grades have increased to $ 4,600 and $ 4,700/ton, respectively. Additionally, the export price of white pepper has risen by $ 100, reaching $ 6,600/ton.
Global pepper prices remain unchanged today. The International Coffee Organization (ICO) notes that the market's reaction this week has been mixed. Specifically, only the price of Cambodian black pepper has decreased, while domestic and international prices from India continue to rise for the fourth consecutive week.
Thus, global black pepper prices on 05/11/2024, remain stable compared to yesterday.
In the domestic market, black pepper prices on May 11 show little change compared to yesterday.
Specifically, in Dak Lak, black pepper continues to be purchased at a price of VND 102,000/kg;
In Dak Nong, the price of black pepper today remains unchanged at VND 101,000/kg.
Similarly, black pepper prices in Gia Lai today remain at VND 101,000/kg;
Traders in Dong Nai continue to purchase black pepper at a price of VND 101,000/kg;
Similarly, the latest black pepper price in Ba Ria - Vung Tau is VND 102,000/kg, remaining unchanged;
Meanwhile, traders in Binh Phuoc are trading at a price of VND 101,000/kg, a decrease of VND 500.
The domestic black pepper prices today mainly remained stable, with only Binh Phuoc showing a slight decrease of VND 500=/kg. Currently, the highest domestic black pepper price stands at VND 102,000/kg.
VPSA has just announced the export and import figures for black pepper in April 2024 and the first 4 months of 2024. Accordingly, the volume of black pepper exports in the first 4 months of 2024 decreased by 19.4%, but the volume of imports increased by 20.5%.
According to the report, exports to China still show no signs of improvement. However, thanks to diversified export markets and the increasing global black pepper prices, the export target of USD billion for this year's black pepper industry seems promising.
The average export price of black pepper in the first 4 months of 2024 reached $ 4,065/ton for black pepper and $ 5,678/ton for white pepper, an increase of 19.4% and 14.5% respectively compared to the same period last year. The total export turnover of black pepper reached $ 352 million in the first 4 months of 2024.
However, challenges for the Vietnamese black pepper industry still lie ahead, as the forecasted supply for export is low, and there is a need to increase imports from other countries. By the end of April 2024, Vietnam had exported 83,067 tons of various types of black pepper. It is forecasted that this year's production will only be around 170 - 180 thousand tons.
Additionally, low inventories and high holding sentiment among the public are also contributing factors. Therefore, experts predict that domestic black pepper prices will continue to rise from now until the end of the year.
Thus, the domestic black pepper prices on 05/11/2024, are trading around the range of VND 101,000 - 102,000/kg.
$ 1 = VND 25.154 - Source: Vietcombank
Translated by Hoang Duy
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