Pepper Market September 3, 2024: Domestic prices increased for the 4th day, Brazilian pepper prices increased sharply
Sep
Pepper prices today, September 3, are in the range of 151,000 - 152,000 VND/kg. This is the fourth consecutive day of increase in the domestic market. Meanwhile, IPC continues to reduce pepper prices in Indonesia, but increases sharply in Brazil.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,498 USD/ton, down 0.41%; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton, up 7.86%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 8,829 USD/ton, down 0.41%; Malaysian ASTA white pepper price is at 10,400 USD/ton.
Vietnam black pepper prices are trading at 6,100 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; white pepper prices are at 8,800 USD/ton. IPC continues to reduce pepper prices in Indonesia, but increases sharply in Brazil.
According to the Import-Export Department (Ministry of Industry and Trade), global pepper supply is supplemented as Indonesia enters a new harvest season, starting in July. However, Brazil, the world's second largest black pepper producer, is facing continuous crop failures due to drought.
According to experts, signs of supply shortage compared to demand will continue to be recorded in the market in the coming time. In addition, rapidly increasing freight costs and port congestion in Asia also affect prices in import markets, and may cause shipping delays, causing prices to increase in the medium and long term.
Meanwhile, commodity markets are betting on the Fed cutting interest rates for the first time in years this month. Investors are expecting the Fed to cut rates by 0.25 percentage points each at its next two meetings in September and November, followed by a larger cut in December — say, 0.5 percentage points.
The Fed’s interest rate cut is expected to stimulate the recovery of the US economy, leading to a recovery in orders and exports from Vietnam to the above market. At that time, the Vietnamese economy will “benefit” from this policy reversal by the Fed.
According to KTĐT.vn
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