Pepper Market on December 3, 2024

 

Pepper Market on December 3, 2024: Shocking price drop in all provinces

Pepper prices today, December 3, are around 142,000 - 143,000 VND/kg, down sharply by 4,000 - 5,000 VND in key pepper growing provinces. IPC adjusted the price of Indonesian pepper in opposite directions while it decreased in Malaysia. It is estimated that pepper exports could reach 1.4 billion USD this year. This is a new record for the industry.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,679 USD/ton, up 0.78%; the price of Brazilian black pepper ASTA 570 at 6,150 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,300 USD/ton, down 1.2%.

Muntok white pepper price is 9,115 USD/ton, down 0.31%; Malaysian ASTA white pepper price is at 10,500 USD/ton.

Vietnam black pepper price is traded at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price is at 9,400 USD/ton. IPC adjusted the price of Indonesian pepper in the opposite direction while it decreased in Malaysia.

Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA), estimated that Vietnam's pepper exports could reach 1.4 billion USD this year. This is a new record for the industry. The result is that recently, pepper prices have been in an increasing cycle and are currently maintaining a level nearly double that of previous years.

Currently, the country has more than 115,000 hectares of pepper and spice crops, mostly concentrated in the South Central Coast - Central Highlands region with more than 75,300 hectares. The pepper industry is facing many challenges. Among them are climate change, shrinking area, investment costs in irrigation and disease prevention to maintain productivity... which have a significant impact on competitiveness.

Currently, according to experts, pepper prices have passed the decline cycle and are starting an increase cycle due to a decrease in supply. However, due to the low purchasing pressure at the beginning of the season, farmers should not be too eager to sell pepper early, especially should not borrow capital to store pepper to avoid risks due to market fluctuations.

According to VietnamBiz.vn