Pepper prices today (February 2) remained stable in the domestic market. Currently, the highest recorded price is 83,500 VND/kg.
Domestic pepper prices
According to the survey, pepper price fluctuates between 80,500 – 83,500 VND/kg in domestic localities.
Records show that Dong Nai and Gia Lai provinces are recording the same price of 80,500 VND/kg. Next is Ba Ria – Vung Tau province with a price of 82,500 VND/kg.
The two provinces of Dak Lak and Dak Nong are purchasing pepper at a general price of 83,000 VND/kg.
Similar, Pepper price today in Binh Phuoc province, it was flat at the corresponding level of 83,500 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
83,000 |
– |
|
Gia Lai |
80,500 |
– |
|
Dak Nong |
83,000 |
– |
|
BA Ria Vung Tau |
82,500 |
– |
|
Binh Phuoc |
83,500 |
– |
|
Dong Nai |
80,500 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on February 1 (local time), the price of Lampung black pepper (Indonesia) increased by 0.18% compared to January 31.
At the same time, the price of Brazilian black pepper ASTA 570 and Kuching (Malaysia) ASTA black pepper remained stable.
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
January 31 |
February 1 |
% change |
|
|
Lampung black pepper (Indonesia) |
3,869 |
3,876 |
0.18 |
|
Brazilian black pepper ASTA 570 |
3,470 |
3,470 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, the price of Muntok white pepper increased by 0.18% compared to the previous session, while Malaysian ASTA white pepper prices had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
January 31 |
February 1 |
% change |
|
|
Muntok white pepper |
6.101 |
6.112 |
0.18 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
According to data from the US International Trade Commission (USITC), US pepper imports in November reached 5,859 tons, down 1.7% over the previous month and down 6% over the same period in 2022.
Thus, this is the 9th consecutive month that US pepper imports have decreased over the same period, but the decrease is gradually narrowing.
Overall for 11 months, US pepper imports decreased by 23.7% in volume (19,512 tons) and 30.1% in value compared to the same period in 2022, reaching 62,840 tons, worth 288.3 million USD. .
The top pepper export markets to the US in the first 11 months of 2023 include Vietnam with 78% market share, India with 9%, Indonesia with 5% and Brazil with 3%.
Of which, imports from Vietnam reached 48,642 tons, down 19.6%; followed by India reaching 5,779 tons, an increase of 1.4%; Indonesia reached 3,359 tons, down 498%; Brazil reached 2,024 tons, down 67.1%…
Data from the US Department of Labor shows that the consumer price index (CPI) in the US increased by 3.4% in December 2023, the highest level in three months. However, overall inflation has eased significantly from its peak of 9.1% in June 2022, while consumer spending and the job market remain strong.
Besides, core inflation, excluding food and energy prices, dropped to 3.9% in the last month of 2023, the lowest level since May 2021.
The market expects the US Federal Reserve (FED) to cut interest rates three times in 2024 and the first interest rate cut could take place right after March.
According to the summary minutes of the FED’s December 2023 meeting, officials are expected to cut interest rates by a total of 0.75 percentage points by the end of 2024, in the context of the fight against inflation making progress and the market The labor market gradually becomes more balanced.
These factors, along with gradually decreasing inventories, can push US demand for goods in general and pepper in particular to increase again in 2024.
According to VietnamBiz.vn
