Pepper Market September 6, 2024

 

Pepper Market September 6, 2024: Price increases again

Posted onSeptember 6, 2024by VPA

06
Sep

Pepper price today, September 6, is around 153,000 - 154,000 VND/kg, an increase of 3,000 - 4,000 VND compared to yesterday. The target of billion-dollar pepper export is within reach.

The increase that started in late August 2024, after nearly a week, is now about 6,000 - 7,000 VND/kg higher than before. More importantly, the domestic increase during the recent holiday has helped export pepper prices increase by 500 USD/ton.

Commenting on the market, experts said that pepper price movements often depend on timing, and short-term increases and decreases can still occur because they are influenced by many factors.

Businesses also commented that pepper prices have decreased in the past few months after peaking mainly due to seasonal factors and the export situation and delivery time of businesses.

Indonesia is in the harvest season, followed by Brazil, and Vietnam will enter its harvest season early next year. However, pepper prices can still be good even at harvest time if the mentality of hoarding and waiting for prices is still common among dealers and farmers.

According to a report by the Ministry of Agriculture and Rural Development, in the first 8 months of 2024, Vietnam exported 185,000 tons of pepper, earning about 891 million USD, a slight decrease of 1.4% in output but a sharp increase of 44.9% in value. Thus, the target of a billion-dollar pepper export industry is within reach.

The average export price of pepper in the first 8 months of this year is estimated at 4,810 USD/ton, a sharp increase of 47% over the same period last year. In August 2024 alone, pepper exports increased by 9.7% in volume and 75.1% in value compared to the same period in 2023, as the average export price increased by 69.6%.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,521 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,855 USD/ton; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam's black pepper price is trading at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton. IPC keeps pepper prices in other countries unchanged compared to the previous day.

According to KTĐT.vn