The pepper price on June 17, 2024, in the Central Highlands and the Southeast region has increased sharply by 13,000 VND/kg in some localities, trading at around 168,000 VND/kg. The highest purchase price in Dak Nong province is 170,000 VND/kg.
IN THE DOMESTIC MARKET
Accordingly, the pepper price in Dak Lak is 170,000 VND/kg, an increase of 13,000 VND/kg. The price of pepper in Chu Se (Gia Lai) is currently at 168,000 VND/kg, an increase of 13,000 VND/kg compared to yesterday. In Dak Nong, the pepper price is recorded at 170,000 VND/kg, an increase of 13,000 VND/kg compared to yesterday.
The pepper price has increased sharply to 170,000 VND/kg.
In the Southeast region, the price of pepper today has increased by 13,000 VND/kg. Specifically, in Ba Ria-Vung Tau, the price goes up to 169,000 VND/kg, an increase of 13,000 VND/kg. In Binh Phuoc, the pepper price reaches 168,000 VND/kg, an increase of 13,000 VND/kg.
After a sharp decrease yesterday, domestic pepper prices today have recovered to 170,000 VND/kg. Thus, domestic pepper prices have increased sharply by 13,000 VND/kg in most key localities compared to yesterday. In all localities, pepper prices are at approximately 168,000 VND/kg or more. The highest pepper price is 170,000 VND/kg.
IN THE WORLD MARKET
At the end of the latest trading session, the International Pepper Community (IPC) listed the price of black pepper Lampung (Indonesia) closed at 6,418 USD/ton, down 0.53%; Brazilian black pepper ASTA 570 at 7,900 USD/ton; and Kuching black pepper price (Malaysia) ASTA held at 4,900 USD/ton.
The Muntok white pepper price of 8,377 USD/ton decreased by 0.54%. Malaysia ASTA white pepper price remained at 7,300 USD/ton.
The price of Vietnam’s black pepper simultaneously increased sharply to 7,800 USD/ton (up 6.84%); type 550 g/l at 8,000 USD/ton (up 2.56%); white pepper at 12,000 USD/ton (up 12.14%).
Although fluctuations are unpredictable, pepper prices tend to increase due to the high cost of transportation by sea.
Maersk, one of the world’s leading shipping companies, has reported an “almost vertical” increase in the cost of shipping containers.
Drewry’s container freight index increased by 12% to 4,716 USD per FEU. It was up by 181% year-on-year and 232% above the 2019 average.
This increase not only affects pepper prices but also coffee and other export items from Vietnam.
The Vietnam Pepper and Spice Association has reported the challenges faced by pepper exporters. Increasing pepper prices make it difficult for them to buy goods, and rising transportation costs put them under more pressure. /.