Source: Hoang Hiep compiled from giatieu.com
On the world market
Update from the International Pepper Association (IPC), at the end of last week, the price of Lampung Indonesian black pepper was listed at 6,706 USD/ton, a slight increase of 0.3% compared to the first day of the week.
In contrast, Kuching Malaysia black pepper price decreased by 1.2% last week, to 8,400 USD/ton. Similarly, the price of Brazilian black pepper ASTA 570 also decreased by 1.6% to 6,300 USD/ton.
Price of black pepper 500 g/l and 550 g/l export of Vietnam continues to move sideways in the range of 6,500 – 6,800 USD/ton.
|
Type name |
World black pepper price list |
|
|
November 10 (Unit: USD/ton) |
% change compared to the beginning of the week |
|
|
Lampung black pepper (Indonesia) |
6,706 |
0.3 |
|
Brazilian black pepper ASTA 570 |
6,300 |
-1.6 |
|
Kuching black pepper (Malaysia) ASTA |
8,400 |
-1,2 |
|
Vietnamese black pepper (500 g/l) |
6,500 |
0.0 |
|
Vietnamese black pepper (500 g/l) |
6,800 |
0.3 |
At the same time of the survey, the price of Muntok Indonesian white pepper increased by 0.6%, reaching 9,180 USD/ton.
Meanwhile, the price of Malaysian white pepper dropped sharply by 4.54% last week, down to 10,500 USD/ton.
Particularly in Vietnam, white pepper prices continue to move sideways at 9,500 USD/ton.
|
Type name |
World white pepper price list |
|
|
November 10 (Unit: USD/ton) |
% change compared to the beginning of the week |
|
|
Muntok Indonesian white pepper |
9,180 |
0.3 |
|
ASTA Malaysian white pepper |
10,500 |
-4.5 |
|
Vietnamese white pepper |
9,500 |
0.0 |
Update pepper information
Information from Dak Nong NewspaperAccording to Mr. Le Anh Son, Director of Binh Minh Cooperative in Ea Po commune, Cu Jut district, the pepper market from the beginning of 2024 until now has fluctuated strongly.
In 2023, pepper prices will be at 65,000 – 70,000 VND/kg but by 2024 it will fluctuate at 140,000 – 150,000 VND/kg, sometimes reaching 160,000 VND/kg.
Vietnam’s pepper is mainly exported and reduced supply is the main reason for rising prices. This year, business units are having difficulty purchasing pepper because of reduced output.
Mr. Son said, in the past, most pepper farmers finished harvesting, drying, and then shipped the entire product to agents, businesses to consign or sell it all.
However, in recent years, farmers have focused on capturing market information and thereby changing the way they sell. Farmers build pepper warehouses at home and only sell when they need money.
Farmers have participated more deeply in the process of determining pepper prices. Farmers have little consignment, leading to the chain of purchasing systems from agents, businesses, and export units not accurately grasping the pepper output of Vietnam in general, and of Dak Nong in particular. This is also the reason contributing to the increase in pepper prices.
The above changes are in accordance with the law of supply and demand of the market. This forces businesses, including pepper buying and selling units, to change.
Also according to Mr. Son, if businesses still purchase pepper by signing false quantity contracts with exporters as before, they will easily run the risk of lacking supplies.
Dak Nong has a large area and output of coffee and pepper in Vietnam. Currently, the province has about 33,800 hectares of pepper, with an output of 70,685 tons; coffee 131,000 hectares, output 360,000 tons.
According to VietnamBiz.vn
