December 18, 2024 | 11:58 GMT +7
Hotline: 0913.378.918
December 18, 2024 | 11:58 GMT +7
Hotline: 0913.378.918
Update on domestic and global pepper prices as of December 18, 2024
Globally, pepper prices remained stable on December 18.
Specifically, the price of black pepper from Lampung in Indonesia stayed at $ 6,845/ton. The price of white pepper from Muntok remained at $ 9,068/ton.
The price of Kuching ASTA black pepper from Malaysia was $ 8,200/ton, while the price of ASTA white pepper from Malaysia stood at $ 10,400/ton.
For Brazil, the price of ASTA 570 black pepper was trading at $ 6,350/ton.
In Vietnam, the export price of black pepper type 500 g/l was $ 6,300/ton, while the 550 g/l type was at $ 6,600/ton. The export price of white pepper stood at $ 9,400/ton.
Global pepper prices today have remained unchanged. The demand for pepper consumption has recovered in many markets, including the US, EU, and Asia, particularly in China.
Despite the previous downward trend, the market is now entering a price increase cycle, mainly due to reduced supply. The upcoming holiday season has increased demand, while reports of decreased exports from Vietnam have also contributed to the market's rise.
Vietnam's black pepper production for the 2025 season is expected to decrease due to drought and competition from other crops like durian and coffee. This may reduce pepper supply, leading to high prices in the coming period.
Shipping rates from Asia to Europe began rising last week, with daily prices to the Mediterranean reaching nearly $ 6,000/FEU, an increase of $ 1,000 since late November.
The cause of this rise could stem from more efficient capacity management by carriers, as many vessels are empty, and demand is increasing ahead of the Lunar New Year.
Thus, global pepper prices on December 18, 2024, remain stable compared to yesterday.
Domestically, pepper prices have increased slightly compared to yesterday.
Specifically, in Dak Lak, the price rose by VND 500, with pepper buying at VND 146,500/kg.
The price of pepper in Dak Nong also reached VND 146,500/kg today, increasing by VND 300.
Pepper in Gia Lai is trading at VND 145,500/kg, up by VND 500.
In Dong Nai, traders are buying pepper at VND 146,000/kg.
The price of pepper in Ba Ria - Vung Tau remains at VND 146,000/kg.
In Binh Phuoc, traders continue to buy at VND 146,000/kg.
Domestic pepper prices today are slightly increasing by VND 300 - 500 in Dak Lak, Dak Nong, and Gia Lai. Meanwhile, other key regions remain unchanged.
Thus, domestic pepper prices on December 18, 2024, are trading around VND 145,500 - 146,500/kg.
$ 1 = VND 25.161 - Source: Vietcombank.
Translated by Hoang Duy
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