Pepper prices today, July 18, 2024, in the domestic market suddenly decreased in some key localities, trading at 148,000 - 149,000 VND/kg.
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| Pepper price today July 18, 2024: Market under downward pressure, lack of support factors, losing important milestones. (Source: Getty) |
Pepper prices today, July 18, 2024, in the domestic market suddenly decreased in some key localities, trading at 148,000 - 149,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 148,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (148,000 VND/kg); Dak Lak (148,000 VND/kg); Dak Nong (149,000 VND/kg); Ba Ria - Vung Tau (149,000 VND/kg) and Binh Phuoc (148,000 VND/kg).
Thus, domestic pepper prices today unexpectedly decreased in key localities, with a uniform decrease of 2,000 VND/kg. The highest pepper price was at 149,000 VND/kg, officially leaving the important threshold of 150,000 VND/kg.
Pepper prices have been under pressure to fall again. This downward adjustment has lasted since the end of last week, causing the current pepper price to be 4,000 - 8,000 VND/kg lower than in early July. Compared to the peak in June 2024, pepper prices have lost about 32,000 VND/kg. The market has not yet had new momentum to push pepper prices up.
For the past 10 days, pepper prices have hovered around 150,000 VND/kg. At pepper forums, the topic of pepper prices is no longer too hot, although expectations for price increases are still being raised. Many people hope that pepper prices can go up to 200,000 VND/kg, or even 220,000 VND/kg.
Pepper prices in key domestic growing areas such as Dak Lak , Gia Lai, Ba Ria - Vung Tau, Dong Nai on July 16, 2024 were stable at around 150,000 - 151,000 VND/kg. Compared to the same period in 2021, this price doubled, accordingly, pepper prices on July 16, 2021 were around 73,000 - 75,000 VND/kg. Pepper prices remained around 67,000 - 70,000 VND/kg at this time in 2022 and 2023.
The lack of supportive factors in the market has caused domestic pepper prices to not increase as expected by speculators over the past ten days. However, with the current price, pepper growers have made a profit.
Supply is lower than demand, which is the reason for the price increase trend in all markets, including Vietnam. However, according to data from the International Pepper Association, domestic pepper prices are currently lower than those of other countries.
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 7,190 USD/ton, down 0.18%; the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton, down 0.35%; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 9,154 USD/ton, down 0.19%; Malaysian ASTA white pepper price is at 8,800 USD/ton.
Vietnam black pepper price is traded 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 continues to slightly adjust pepper prices in Indonesia and also Brazil.
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