Pepper prices on 09/05/2024: Domestic prices continue to rise

Pepper prices on September 5 globally

Globally, the pepper market on September 5 shows an upward trend in some countries.

In Indonesia, black pepper from Lampung increased by 0.44%, reaching $ 7,521/ton. White pepper from Muntok in the country increased by 0.43%, reaching $ 8,855/ton.

In Malaysia, Kuching ASTA black pepper remains at $ 8,500/ton; while white ASTA pepper from the same country is priced at $ 10,400/ton.

In Brazil, ASTA 570 black pepper is traded at $ 7,500/ton (an increase of 6.67%).

In Vietnam, black pepper for export with a grade of 500 g/l is traded at $ 6,600/ton (up 7.58%); while the 550 g/l grade is at $ 7,000/ton (up 7.14%). White pepper for export has reached $ 9,300/ton (an increase of 5.38%).

Today, global pepper prices have increased slightly in Indonesia, risen sharply in Brazil, and surged for Vietnamese export pepper.

Thus, on 09/05/2024, global pepper prices have risen in some countries compared to yesterday.

Pepper prices on September 5 domestically

In the domestic market, pepper prices on September 5 continue to rise compared to yesterday.

Specifically, in Dak Lak, the price increased by VND 1,000, reaching VND 153,000/kg;

In Dak Nong, the price rose by VND 1,000, at VND 153,000/kg;

In Gia Lai, the price increased by VND 500, now at VND 152,000/kg;

In Dong Nai, traders are buying pepper at VND 152,000/kg, up by VND 1,000;

Similarly, in Ba Ria - Vung Tau, the price has reached VND 152,500/kg;

In Binh Phuoc, the pepper price is VND 153,000/kg, an increase of VND 1,000.

Today, domestic pepper prices have increased by an additional VND 500-1,000, bringing the price of this commodity to a high of VND 153,000/kg. This marks the sixth consecutive day of price increases for domestic pepper.

The main factors driving the recent sharp rise in pepper prices are limited supply and high demand.

In the first 8 months of the year, Vietnam is estimated to have exported approximately 185,000 tons of pepper, earning $ 891 million. This represents a 1.4% decrease in quantity but a 44.9% increase in value compared to the same period last year. The average export price of pepper has risen by 47% over these 8 months, reaching $ 4,810/ton.

It appears that Vietnam has exported the entire estimated harvest of around 170,000 tons from the recent season.

Some experts believe that the market will continue to reflect the supply shortages relative to demand in the coming period until the next harvest.

Thus, on 09/05/2024, domestic pepper prices are trading around VND 152,000 - 153,000/kg.

$ 1 = VND 24.560 - Source: Vietcombank.