Pepper market on July 8, 2024: Price fluctuates at 151,000 VND/kg
Jul
Pepper price today July 8 is in the range of 150,000 - 151,000 VND/kg. Last week it lost up to 6,000 VND/kg, but pepper is having a series of 2 consecutive days of increases. Signs of supply shortage continue to be the driving force for pepper prices to increase this week, expected to regain the 160,000 VND/kg mark.
In Dak Lak province, today's pepper purchase price is 151,000 VND/kg.
In Dak Nong province, today's pepper price was purchased at 151,000 VND/kg.
In Gia Lai province, today's pepper price is 150,000 VND/kg.
Meanwhile in Dong Nai, today's pepper price is at 150,000 VND/kg.
In Ba Ria - Vung Tau province, pepper price today is at 150,000 VND/kg.
In Binh Phuoc province, today's pepper price is purchased at 150,000 VND/kg.
Pepper prices at the beginning of this morning remained stable in localities compared to the same time yesterday. Summarizing last week, pepper prices decreased by an average of 3,000 - 6,000 VND/kg.
Vietnam Pepper and Spice Association informed that in the first 6 months of the year, Vietnam imported 18,002 tons of pepper of all kinds, of which black pepper reached 16,357 tons, white pepper reached 1,645 tons. Total import turnover reached 69.6 million USD.
Compared to the same period last year, imports increased by 18.9%. The 3 main countries supplying pepper to Vietnam include: Brazil: 7,241 tons, down 22.3%; Cambodia: 6,212 tons, up 34.5%; Indonesia: 2,991 tons, up 67.3%.
In the context of reduced domestic supply, domestic businesses have had to increase import of pepper from other countries. In the past, Brazilian pepper was always considered reasonably priced, and many countries sought to import it. However, this year with the general increase in the market, Brazilian pepper prices also increased quite rapidly. In this country, the pepper harvest is also forecast to be unfavorable.
In addition, increased transportation costs due to political instability in the world make it difficult to import pepper from Brazil. Faced with the above situation, it is understandable that pepper imports from Southeast Asian countries Indonesia and Cambodia increased sharply.
Commenting on the market, experts said that last week it lost up to 6,000 VND/kg, but pepper is having a series of 2 consecutive days of increases during the weekend.
The Vietnam Pepper and Spice Association quoted experts as saying that signs of supply shortage compared to demand will continue to be recorded in the near future until the end of the season. This continues to be the driving force for pepper prices to increase this week, expected to regain the mark of 160,000 VND/kg.
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