Pepper market on June 11, 2024

 

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Pepper market on June 11, 2024: Strong increase reaching over 175,000 VND/kg

Posted onJune 11, 2024by VPA

11
Jun

Pepper price today June 11 is in the range of 175,000 - 176,000 VND/kg. The official pepper price exceeded the mark of 170,000 VND/kg, a price that no one could have thought of when entering this year's harvest. Another reason causing pepper prices to increase is that sea transportation is increasingly expensive.

The rapid increase in pepper prices makes farmers very excited, along with other agricultural products such as coffee and durian also increasing in price, thereby improving people's lives.

However, the planting of new pepper has not yet been widely recorded, because the cost of planting new pepper has become more expensive than before. Besides, there are other agricultural crops that bring better profits than black pepper such as coffee, cocoa, and durian.

Another reason why pepper prices have increased in addition to supply and demand factors in recent times is that sea transportation is increasingly expensive.

Last week, a series of major shipping lines based in Taiwan (China) such as Evergreen, Yang Ming and Wan Hai predicted that congestion at ports in Asia would not ease in the short term, so freight rates Container shipping will remain anchored until the third quarter of 2024.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 6,451 USD/ton, an increase of 12.65%; Brazilian black pepper price ASTA 570 was at 8,500 USD/ton, up 3.53%; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price was 8,420 USD/ton, an increase of 11.82%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 6,500 USD/ton for 500 g/l type; type 550 g/l at 6,700 USD/ton; White pepper price is at 9,500 USD/ton. The International Pepper Community sharply increased Indonesian and Brazilian pepper prices earlier this week.

According to KTĐT.vn