- Last week, the price of pepper increasing from 156,000 VND to 159,000 VND, corresponding to a 1.92% increase.
- The demand is very good in various markets such as the EU, Middle East, and Asian countries, while demand from China has quieted down again compared to last week after the sharp increase in pepper prices in week 35.
- However, at the end of the week on Saturday and Sunday, demand from China surged again, making the market more active.
- Shipping rates to the U.S. have been significantly reduced by about $2,000 per 40-foot container in the past week. Other routes such as the EU, Asia, and Africa have maintained stable shipping rates with little change.
- The VND continued to strengthen by about 1%, which has led to an increase in the price of pepper when converted to USD. It is forecasted that the VND will continue to appreciate as the USD may weaken due to the Fed lowering interest rates.
Please see the REPORT FILE & FULL QUOTATION LIST by click to download.
https://ptexim.com.vn/reports/report-of-the-pepper-market-and-other-spices-in-august-2024/
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