Domestic market increased consecutively for 4 weeks, world outlook is positive

Pepper price today, September 16, 2024, in the domestic market remained stable in some key localities, trading from 152,000 - 156,000 VND/kg.

Pepper price today September 16, 2024: Domestic market increased continuously for 4 weeks, world outlook is positive. (Source: Borneo Talk)

Pepper price today, September 16, 2024, in the domestic market remained stable in some key localities, trading from 152,000 - 156,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 154,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (154,000 VND/kg); Dak Lak (156,000 VND/kg); Dak Nong (156,000 VND/kg); Ba Ria - Vung Tau (155,000 VND/kg) and Binh Phuoc (152,000 VND/kg).

Thus, after a slight increase for one day, domestic pepper prices remained stable in key localities today. The highest pepper price is still at 156,000 VND/kg.

At the end of last week, pepper prices in the Central Highlands and Southeast regions fluctuated between 152,000 and 156,000 VND/kg, an increase of 2,000 and 3,000 VND/kg compared to the beginning of the week. Binh Phuoc was the only province where pepper prices remained stable throughout the past week at 152,000 VND/kg.

Thus, the price of black pepper in the domestic market in Vietnam has increased continuously in the past 4 weeks, with a total increase of about 10.5 - 12.6% (equivalent to 14,500 - 17,500 VND/kg) compared to mid-August.

Thus, since the beginning of the month, domestic pepper prices have maintained a good upward trend. Compared to September 1, 2024, pepper prices increased by VND 10,000/kg in the provinces, except for Binh Phuoc, which only increased by about VND 7,000/kg.

Pepper prices have been rising steadily in recent weeks due to high market demand, especially as China has returned to buying in large volumes after a long period of reduced purchases. Meanwhile, recent reports indicate that global supplies are on a downward trend.

Drought has severely impacted this year’s harvests in Brazil and Cambodia. In Vietnam, output is forecast to fall 10% to 170,000 tonnes in 2024, while exports in the first eight months have already exceeded that figure.

According to the Vietnam Pepper and Spices Association (VPSA), by the end of August, Vietnam had exported 183,756 tons of pepper of all kinds with a total turnover of 881.2 million USD, down 2.1% in volume, however, the export turnover increased by 43% over the same period last year.

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 7,562 USD/ton, up 0.04%; the price of Brazilian black pepper ASTA 570 at 7,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.

Muntok white pepper price is 9,121 USD/ton, up 0.04%; Malaysian ASTA white pepper price is at 10,900 USD/ton.

Vietnam's black pepper price is trading at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton.

IPC commented that the pepper market in the second week of September showed a positive outlook, with no market recording a decrease.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1692024-thi-truong-noi-dia-tang-lien-tiep-trong-4-tuan-the-gioi-trien-vong-tich-cuc-286432.html