Domestic prices increased again

Domestic pepper price today

Pepper price today, November 16, 2024, Dak Lak and Ba Ria - Vung Tau increased by 1,000 VND/kg compared to yesterday; Gia Lai and Dak Nong increased slightly by 500 VND/kg compared to yesterday. Binh Phuoc alone remained stable at 138,000 VND/kg.

Giá tiêu hôm nay 16/11/2024: Trong nước đồng loạt tăng trở lại

Accordingly, the pepper price in Dak Lak and Dak Nong was purchased at 139,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday, November 15, 2024. The pepper price in Chu Se (Gia Lai), Ba Ria Vung Tau was purchased at 138,500 VND/kg.

Thus, domestic pepper price today increased by 600 VND/kg compared to yesterday. Average at 138,600 VND/kg.

World pepper price today

Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,476 USD/ton, down 0.59%, and the price of Muntok white pepper at 9,063 USD/ton, down 0.58%.

The price of Brazilian ASTA 570 black pepper is at 6,000 USD/ton. The price of Malaysian ASTA black pepper is at 8,400 USD/ton; the price of this country's ASTA white pepper is at 10,500 USD/ton.

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,400 USD/ton, unchanged.

Last week, domestic pepper prices fell to VND135,000/kg for the first time in many months due to the strong increase in the US dollar after the US presidential election. However, prices recovered soon after and stabilized around VND140,000/kg.

In the domestic market, pepper prices are under pressure due to slowing demand. Many sellers are also trying to raise capital to invest in coffee, an agricultural product that is in harvest season. However, limited pepper supply has helped prices remain high, up more than 70% compared to the beginning of the year and double compared to the same period last year.

According to experts, in the coming time, domestic pepper prices may find it difficult to exceed VND150,000/kg. The main reason is the increase in the value of the USD and fluctuations in the international market. The increase in the value of the USD not only makes domestic production costs higher but also poses exchange rate risks for import enterprises. Meanwhile, export enterprises may benefit in the short term, but profits are expected to gradually decrease in the medium and long term.