IN THE DOMESTIC MARKET
The pepper price on June 26, 2024, in the Southeast region continues to decrease by 1,000 VND/kg, trading around 145,000 VND/kg. The highest purchase price in Dak Lak province is 146,000 VND/kg.
Accordingly, the price of Dak Lak pepper is purchased at 146,000 VND/kg. The price of pepper in Chu Se (Gia Lai) and Dak Nong is 145,000/kg VND.
In the Southeast, the price of pepper today has decreased by 1,000 VND/kg. Specifically, in Ba Ria-Vung Tau and Binh Phuoc provinces, the price is 145,000 VND/kg.
Today, domestic pepper prices continue to be traded at 145,000 VND/kg. Compared to yesterday, the prices today have decreased in some key localities.
Pepper prices continue to decline.
IN THE WORLD MARKET
At the end of the last trading session, the International Pepper Community (IPC) listed the price of black pepper Lampung (Indonesia) at 7,112 USD per ton, an increase of 0.31%; Brazilian black pepper ASTA 570 at 7,500 USD per ton, an increase of 300 USD/ton; and Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 9,056 USD/ton, up 0.32%. Malaysia ASTA white pepper price is 8,800 USD/ton.
The price of black pepper in Vietnam is 5,700 USD/ton with 500 g/l, down 3.51%; 550 g/l at 6,300 USD/ton, down 9.52%; and the price of white pepper is 5,800 USD/ton, down 8.62%. The IPC has sharply increased pepper prices in Indonesia and Brazil while reducing the export prices of Vietnam’s pepper.
Experts said that, in fact, when the price reaches 180,000 VND/kg, buyers almost stand outside. Therefore, it makes sense to lower the price now. However, what is the floor for this drop, and how many more corrections are there?
Currently, almost all experts, businesses, and the IPC plant forecast an increase in the medium and long term.
The inventory of intermediaries is at the lowest level in many years. Some dealers have faced shortages. Pepper is sold out and cannot be brought back when the market is rising rapidly. Some dealers holding farmers’ goods now go back to “squeeze” the price.
The market unexpectedly turned down sharply after a series of days of holding steady. Experts said that the above price is a general record of the listed purchase and sale prices of agents and import-export companies. In fact, with the current decrease in price, the number of transactions in the market is not much.
This year, with a low amount of stock, most farmers keep their goods in the context of not being pressured financially like in previous years. The sharp decrease earlier this week may have been speculative by market participants.
In addition, domestic pepper prices have decreased due to the sharp decrease in the world market. In the last two consecutive trading sessions, Vietnam’s pepper export prices have dropped strongly. Prior to the Muslim holiday of Eid al-Adha, market prices increased sharply as demand rose. Immediately after the holiday, the market was back to normal, causing prices to drop deeply. /.