Pepper prices on 09/18/2024: Domestic prices continue to decline

Pepper prices on September 18 globally

Globally, pepper prices on September 18 continue a slight upward trend in Indonesia.

Accordingly, the price of black pepper Lampung in Indonesia increased by 0.43%, reaching $ 7,595/ton. Meanwhile, white pepper Muntok from the same country rose by 0.44%, priced at $ 9,161/ton.

The price of black pepper Kuching ASTA from Malaysia stands at $ 8,800/ton, while white pepper ASTA from the same country is priced at $ 10,900/ton.

In Brazil, the price of black pepper ASTA 570 trades at $ 7,000/ton.

In Vietnam, the price of black pepper for export, 500 g/l type, is trading at $ 7,100/ton, while the 550 g/l type is priced at $ 7,225/ton. The price of white pepper for export remains at $ 10,150/ton.

Global pepper prices today rose slightly in Indonesia but remained steady in other countries.

Thus, global pepper prices on 09/18/2024, showed a slight increase in Indonesia compared to yesterday.

Pepper prices on September 18 domestically

In the domestic market, pepper prices on September 18 continued to decline compared to the previous day.

Specifically, Dak Lak is still purchasing pepper at VND 155,000/kg.

In Dak Nong, pepper prices remained steady at VND 155,000/kg.

In Gia Lai, pepper is trading at VND 153,000/kg, down by VND 1,000.

In Dong Nai, traders are buying pepper at VND 152,000/kg, a decrease of VND 2,000.

In Ba Ria - Vung Tau, pepper prices dropped by VND 3,000, now standing at VND 152,000/kg.

In Binh Phuoc, pepper continues to be traded at VND 152,000/kg.

Domestic pepper prices today decreased by VND 1,000 - 3,000. Yet, the highest price remains at VND 155,000/kg.

The domestic pepper market is experiencing a downward adjustment due to reduced demand from markets such as the US, EU, and Asia. Meanwhile, China continues to purchase, albeit in small quantities.

According to Mr Le Duc Huy, General Director of Simexco Dak Lak, Vietnam's remaining pepper stock is about 30%, equivalent to 50,000 - 55,000 tons.

However, in the first half of this year, Vietnam's traditional export markets have already imported large quantities of pepper, meaning they are not in a hurry to buy more and are waiting.

Therefore, he believes that while the supply shortage persists, pepper prices are unlikely to experience a sharp increase as they did earlier in the year.

"The possibility of prices remaining at this level is high. Farmers still hope for a price spike, but in my opinion, that is unlikely", Mr Huy stated.

Thus, domestic pepper prices on 09/18/2024, are trading around VND 152,000 - 155,000/kg.

$ 1 = VND 24.470 - Source: Vietcombank.