In the domestic market
The pepper price on July 9, 2024, in the Southeast increased slightly by 1,000 VND in some localities, trading around 151,000–152,000 VND/kg. The highest purchase price in Dak Lak and Dak Nong provinces is 152,000 VND/kg.
Specifically, the price of Dak Lak pepper is 152,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. The price of Chu Se (Gia Lai) is currently 151,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. The price of Dak Nong pepper has increased by 1,000 VND/kg to 152,000 VND/kg.
In the Southeast, the price of pepper today increased by 1,000 VND/kg compared to yesterday. Specifically, in Ba Ria Vung Tau and Binh Phuoc, the price of pepper is 151,000 VND/kg.
The domestic price today is 151,000–152,000 VND/kg. Thus, domestic pepper prices today increased by 1,000 VND/kg in some key localities compared to yesterday. In all localities, the price of pepper is 151,000 VND/kg or more. The highest target price was recorded at 152,000 VND/kg.
The pepper price has increased back to 152,000 VND/kg on July 9, 2024.
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 7,162 USD/ton, up 0.28%; Brazilian black pepper ASTA 570 at 7,250 USD/ton; and Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 9,019 USD/ton, up 0.28%. Malaysia ASTA white pepper price is 8,800 USD/ton.
The Vietnamese black pepper price is traded at 6,000 USD/ton for 500 g/l and 6,600 USD/ton for 550 g/l; the white pepper price is 8,800 USD/ton.
Brazil’s new pepper harvest will be available on the market in the next two months, with production likely to fall by 20–25%. By the end of May 2024, Brazil had exported 31,846 tons of pepper, down 8% over the same period.
In the long term, the production of pepper cannot meet the world’s consumption demand. According to Ptexim Corp.’s market update last week, there is not much pepper to supply to the market now. Transportation costs continue to increase rapidly and are forecast to remain high until 2025.
The pepper market in June witnessed strong fluctuations, causing many investors and pepper growers to worry. Experts, businesses, and the Pepper and Spice Association of Vietnam believe in an increase in pepper prices in the medium and long term due to the shortage of supply and the need for recovery.
Speculative activity is also said to have a certain effect on the market. When the pepper price is high, many investors enter the market for short-term profit, making price fluctuations even more complicated.
Overall, the pepper market is unpredictable now. Businesses and pepper growers need to closely monitor the market, have a reasonable strategy to limit risks, and optimize profits. Authorities also need to take measures to regulate the market, limit speculative activities, contribute to price stability, and protect consumers. /.