In the domestic market
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See more: Pepper prices today November 2
Pepper price today November 3 decreased slightly by 200 VND/kg in Dak Nong province and stabilized in other localities.
Overall in the past week, pepper price domestically decreased by 2,000 – 2,500 VND/kg, fluctuating between 140,000 – 141,000 VND/kg.
In particular, pepper prices in the two provinces of Dak Nong and Dak Lak decreased by 2,500 VND/kg during the week, down to 141,000 VND/kg.
Similarly, pepper prices in Ba Ria – Vung Tau province and Dong Nai province are trading at 141,000 VND/kg, down 2,000 VND/kg.
Pepper prices in Gia Lai and Binh Phuoc provinces also decreased by 2,000 VND/kg, to 140,000 VND/kg.
The market continues to be under pressure as demand slows, while sellers seek to mobilize capital to invest in coffee, an agricultural product that is in harvest season. However, limited supply keeps pepper prices still about 72 – 76% higher than at the beginning of the year and double the same period last year.
|
Province/district (survey area) |
Purchase price 3/11 (Unit: VND/kg) |
Change compared to the previous day (Unit: VND/kg) |
Change compared to the beginning of the week (Unit: VND/kg) |
| Dak Lak |
141,000 |
– |
-2,500 |
| Gia Lai |
140,000 |
– |
-2,000 |
| Dak Nong |
141,000 |
-200 |
-2,500 |
| Ba Ria – Vung Tau |
141,000 |
– |
-2,000 |
| Binh Phuoc |
140,000 |
– |
-2,000 |
| Dong Nai |
141,000 |
– |
-2,000 |
Source: Hoang Hiep compiled from giatieu.com
On the world market
Update from the International Pepper Association (IPC), in the past week, world pepper prices were quite stable and only decreased in Indonesia.
Specifically, the price of Lampung Indonesian black pepper is listed at 6,683 USD/ton, down 0.6% last week.
Meanwhile, pepper prices at other suppliers continued to stabilize. Specifically, Kuching Malaysian black pepper is priced at 8,500 USD/ton, Brazilian black pepper ASTA 570 is trading at 6,400 USD/ton.
Black pepper 500 g/l and 550 g/l export of Vietnam is offered for sale at 6,500 – 6,800 USD/ton.
|
Type name |
World black pepper price list |
|
|
November 3 (Unit: USD/ton) |
% change compared to the beginning of the week |
|
|
Lampung black pepper (Indonesia) |
6,683 |
-0.6 |
|
Brazilian black pepper ASTA 570 |
6,400 |
0.0 |
|
Kuching black pepper (Malaysia) ASTA |
8,500 |
0.0 |
|
Vietnamese black pepper (500 g/l) |
6,500 |
0.0 |
|
Vietnamese black pepper (500 g/l) |
6,800 |
0.0 |
At the same time of the survey, the price of Muntok Indonesian white pepper decreased by 0.6% last week, to 9,150 USD/ton.
Vietnam and Malaysia white pepper prices continued to move sideways at 9,500 USD/ton and 11,000 USD/ton.
|
Type name |
World white pepper price list |
|
|
November 3 (Unit: USD/ton) |
% change compared to the beginning of the week |
|
|
Muntok Indonesian white pepper |
9,150 |
-0.6 |
|
ASTA Malaysian white pepper |
11,000 |
0.0 |
|
Vietnamese white pepper |
9,500 |
0.0 |
Update pepper information
According to preliminary statistics, in just the past 10 months, businesses spent 108 million USD (equivalent to 2,700 billion VND) to import pepper. Compared to the same period last year, imports of this product increased sharply by 38.2%.
In particular, businesses mainly import pepper from Brazil, Indonesia and Cambodia.
Mr. Phan Minh Thong – Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, said that Vietnam’s pepper industry is benefiting from high export prices due to limited supply.
Accordingly, this year pepper farmers benefited from extremely high selling prices. On the contrary, export enterprises cannot buy much domestic pepper. This is also part of the reason Phuc Sinh had to import a lot of pepper from Brazil and Indonesia this year.
The reason is because output decreased, people kept pepper for speculation. Along with that, prolonged drought makes domestic pepper supply increasingly difficult.
In the opposite direction, the Ministry of Agriculture and Rural Development said that in the first 10 months of 2024, Vietnam exported about 220.3 thousand tons of pepper, with an estimated value of 1.12 billion USD. Although the volume of exported pepper decreased by 2.3% over the same period last year, the value increased sharply by 48.2%.
The average export price of pepper in the 10 months of 2024 is estimated to reach 5,084 USD/ton, up 51.7% over the same period in 2023.
Regarding the market, the US, Germany and the United Arab Emirates (UAE) are the three largest customers, accounting for 44.2% of our country’s “black gold” export value in the first 9 months of 2024. Of which , exports to the German market increased 2.4 times over the same period last year, according to vietnamnet.
According to VietnamBiz.vn
