Pepper prices on 06/16/2024: Mixed movements

Pepper prices on June 16 globally

On the global market, pepper prices remained stable on June 16.

Specifically, the price of Lampung black pepper in Indonesia is $ 6,452/ton. Meanwhile, the price of Muntok white pepper in the country is steady at $ 8,422/ton.

In Malaysia, the price of Kuching ASTA black pepper remains stable at $ 4,900/ton, and the price of ASTA white pepper is still at $ 7,300/ton.

In the Brazilian market, the price of ASTA 570 black pepper is currently at $ 7,900/ton.

In Vietnam, the export price of 500 g/l black pepper is trading at $ 7,800/ton, while the 550 g/l type is stable at $ 8,000/ton. The export price of white pepper is steady at $ 12,000/ton.

Today, there are no new changes in global pepper prices. This week, the global pepper market is showing positive trends with no country reporting a decrease.

In the near future, besides supply and demand tensions, commodity prices, including pepper, are being affected by skyrocketing sea freight rates.

The giant shipping company Maersk (Denmark) stated that container shipping costs have risen "almost vertically" over the past month. Specifically, for the week ending on June 6, the Drewry container freight rate index increased by 12% to $ 4,716 per FEU (40ft container), which is an 181% increase year-on-year and 232% higher than the average level in 2019.

The increased shipping costs are driving up the prices of goods, including coffee and pepper exported from Vietnam. VSPA assesses that pepper export enterprises are facing double difficulties as high pepper prices prevent businesses from purchasing goods, while transportation costs are soaring. One reason might be China stockpiling empty containers for export.

Thus, global pepper prices on 06/16/2024 remained unchanged compared to yesterday.

Pepper prices on June 16 domestically

In the domestic market, pepper prices on June 16 showed mixed movements compared to yesterday.

Specifically, Dak Lak continues to purchase pepper at VND 157,000/kg;

With an increase of VND 1,000, pepper price in Dak Nong today is trading at VND 158,000/kg;

Pepper prices in Gia Lai today remain at VND 155,000/kg;

Traders in Dong Nai continue to buy pepper at VND 155,000/kg;

Pepper prices in Ba Ria - Vung Tau have fallen by VND 1,000 to VND 156,000/kg;

Similarly, traders in Binh Phuoc are trading pepper at VND 155,000/kg.

Domestic pepper prices today showed mixed movements, with a VND 1,000 fluctuation, and the highest price reaching VND 158,000/kg. Summing up this week, the domestic pepper market experienced a significant drop, losing up to VND 10,000.

Thus, domestic pepper prices on 06/16/2024, are trading around VND 155,000 - 158,000/kg.

$ 1 = VND 25.191 - Source: Vietcombank