According to the survey, pepper prices today are moving sideways across the board.
Specifically, traders in Dak Lak and Dak Nong continue to buy pepper at 144,000 VND/kg.
Lower at VND143,000/kg was recorded in Gia Lai, Ba Ria – Vung Tau, Binh Phuoc and Dong Nai.
|
Province/district (survey area) |
Purchase price (Unit: VND/kg) |
Change from yesterday (Unit: VND/kg) |
|
Dak Lak |
144,000 |
– |
|
Gia Lai |
143,000 |
– |
|
Dak Nong |
144,000 |
– |
|
Ba Ria – Vung Tau |
143,000 |
– |
|
Binh Phuoc |
143,000 |
– |
|
Dong Nai |
143,000 |
– |
On the world market
According to an update from the International Pepper Community (IPC) on August 26 (local time), the trading price of Lampung black pepper (Indonesia), the purchasing price of Brazilian black pepper ASTA 570 and the price of Kuching black pepper (Malaysia) ASTA remained stable compared to August 25.
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
August 25 |
August 26 |
% change |
|
|
Lampung Black Pepper (Indonesia) |
7,490 |
7,490 |
0 |
|
Brazilian Black Pepper ASTA 570 |
6,300 |
6,300 |
0 |
|
Kuching Black Pepper (Malaysia) ASTA |
8,500 |
8,500 |
0 |
At the same time of survey, the purchase price of Muntok white pepper and the price of Malaysian ASTA white pepper had no new changes.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
August 25 |
August 26 |
% change |
|
|
Muntok White Pepper |
8,818 |
8,818 |
0 |
|
ASTA Malaysian White Pepper |
10,400 |
10,400 |
0 |
Businesses believe that if pepper is put on the stock exchange, this commodity will be easily manipulated by financial funds because its output is still low compared to other commodities, such as coffee.
The Ministry of Industry and Trade is currently seeking opinions from businesses on the establishment of a Commodity Exchange, and pepper will also be one of the traded commodities, said Ms. Hoang Thi Lien – President of the Vietnam Pepper and Spices Association (VPSA).
This is not a new idea, the proposal to establish a pepper trading floor was also proposed by the Vietnam Pepper Association (the predecessor of VPSA) 8 years ago (May 2016). The Association believes that Vietnam’s pepper has accounted for over 50% of the world’s commercial output for many years and the establishment of a trading floor will help the industry gain more strength to develop the market and dominate the global pepper trade.
VPA added that pepper is a commodity that can be stored in warehouses for 2-3 years, so farmers know how to keep their goods and wait for a good price to sell, something that has never happened with other agricultural products. However, this mentality makes the pepper market unstable. That is also one of the main reasons for VPA to develop the idea of establishing a pepper trading floor, according to Finance Magazine.
According to VietnamBiz.vn
