Pepper price today July 11, 2024, continuing the upward trend, the price is not attractive enough for people to sell massively, expected to reach 200 thousand VND/kg

Pepper prices today, July 11, 2024, in the domestic market continued to increase slightly in key localities, trading from 153,000 - 154,000 VND/kg.

Pepper price today, July 11, 2024, continues to increase, the price is not attractive enough for people to sell massively, expected to reach 200 thousand VND/kg. (Source: SAM Agritech)

Pepper prices today, July 11, 2024, in the domestic market continued to increase slightly in key localities, trading from 153,000 - 154,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 153,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (153,000 VND/kg); Dak Lak (154,000 VND/kg); Dak Nong (154,000 VND/kg); Ba Ria - Vung Tau (153,000 VND/kg) and Binh Phuoc (153,000 VND/kg).

Thus, domestic pepper prices today continued to increase slightly in key localities, increasing by VND 2,000/kg. The highest pepper price was recorded at VND 154,000/kg.

Since the beginning of the year, the price of Vietnamese pepper has been on a strong upward trend, especially in the first half of June. The price increased sharply when it peaked at 180,000 VND/kg on June 12. Many people expected that pepper would return to its golden age.

However, after reaching the peak, pepper prices have decreased and changed continuously, fluctuating around 150,000 - 160,000 VND/kg, but are still considered a record high in the past 10 years.

Industry experts believe that pepper prices will continue to increase, although there may be some short-term adjustments, but they will not be too deep and the market has formed a new price level. However, the current pepper price is still not attractive enough for people to sell in large quantities. Even when the price is rising as high as it is now, they still choose to sell "drop by drop" to test the market.

Mr. Pham Van Tuan, Director of the Viet Duc Agricultural Cooperative (Cu Kuin District, Dak Lak Province) said that the cooperative's total pepper output for the 2024 crop year is nearly 200 tons. This year, pepper prices have been continuously increasing, but people are not under pressure to sell early like in previous years, because the prices of other agricultural products are also increasing, helping people have a stable income. Therefore, after harvest, people only sell part of the output in advance to pay for labor, reinvest in production for the next crop, the rest is still stored waiting for pepper prices to increase.

Similarly, at the Eawy Agricultural Cooperative, members have only sold about 50% of their output, most of whom are still expecting a price of VND200,000/kg to sell, because they have good income from durian and coffee. Meanwhile, preserving pepper is easier than other agricultural products, and can be stored in warehouses for 2-3 years.

According to statistics from the Vietnam Pepper and Spice Association (VPSA), in the first 6 months of 2024, Vietnam imported 18,002 tons of pepper of all kinds, with a total turnover of 69.6 million USD, compared to the same period last year, the import volume increased by 18.9%.

According to VPSA, by the end of June 2024, Vietnam had exported 142,586 tons of pepper of all kinds, with a total turnover of 634.2 million USD. Compared to the same period last year, the export volume decreased by 6.8%, however, the export turnover increased by 30.5%.

Thus, in the first half of 2024, the whole industry still had a trade surplus of 564.6 million USD.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,155 USD/ton, down 0.1%; the price of Brazilian black pepper ASTA 570 at 7,150 USD/ton, down 0.35%; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,110 USD/ton, down 0.1%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton. IPC slightly adjusted down pepper prices in Indonesia and Brazil after a period of continuous increase before.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1172024-noi-dai-da-tang-muc-gia-chua-hap-dan-de-nguoi-dan-o-at-ban-ra-ky-vong-dat-200-nghin-dongkg-278215.html