Domestic pepper prices
The domestic pepper market today, June 5, increased and decreased by 1,000 VND/kg in key regions compared to the same time yesterday. The current average domestic pepper price was updated at 4:30 on June 5, 2024 at around 142,400 VND/kg, the highest buying price in Dak Nong and Binh Phuoc provinces is 143,000 VND/kg.
Accordingly, Dak Lak pepper purchase price is at 141,000 VND/kg, an increase of 1,000 VND/kg, Chu Se (Gia Lai) is purchased at 142,000 VND/kg, Dak Nong pepper price today is recorded at 144,000 VND/kg. VND/kg, down 1,000 VND/kg compared to yesterday.
In the Southeast region, pepper prices today increased and decreased by 1,000 VND/kg. Accordingly, in the Ba Ria - Vung Tau area increased by 1,000 VND/kg to 142,000 VND/kg, in Dong Nai increased by 1,000 VND/kg to 142,000 VND/kg and in the Binh Phuoc area at 143,000 VND/kg decreased by 1,000 VND /kg compared to yesterday.
On the spice forum, consumers and businesses were surprised because the price of pepper increased rapidly, surpassing coffee and cocoa. Many businesses say "pepper prices increase faster than gold"
According to businesses, pepper prices will continue to increase and may repeat the historic peak in 2015. The reason is that pepper inventories in main producing countries such as Vietnam, India and Brazil are low due to low demand. Consumption demand has been high in recent times.
Ms. Hoang Thi Lien - President of the Vietnam Pepper Association said that supply and demand is the main reason why pepper prices are increasing rapidly. Vietnam, Indonesia and Brazil are all forecast to reduce crop output because of the impact of El Nino. Meanwhile, in addition to the US, the markets of Pakistan, Germany, South Korea, and India have high demand for reserves.
In addition, commodity trading by speculators has recently increased. It is possible that they have been hoarding goods and creating artificial scarcity. Mr. Thong said that people should be careful and sell at the right time. Because pepper prices may repeat the scenario of 2015, rising to a peak and continuously plummeting to the price of 35,000 VND per kilogram in 2019.
World pepper prices
At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 5,633 USD/ton (up 10.14%); Brazilian black pepper price ASTA 570 is at 5,900 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.
Muntok white pepper price 7,422 USD/ton (up 1.09%); Malaysian ASTA white pepper price is still at 7,300 USD/ton.
Vietnam black pepper prices simultaneously kept their prices at a high mark, trading at 5,400 USD/ton for 500 g/l type; type 550 g/l at 5,900 USD/ton; White pepper price is at 8,000 USD/ton.
https://thuongtruong.com.vn/news/gia-tieu-hom-nay-56-tang-giam-trai-chieu-1000-dongkg-122238.html
