Pepper prices on 09/11/2024: Domestic prices rise sharply

Pepper prices on September 11 globally

Globally, the pepper market remains stable on September 11.

Specifically, the price of black pepper from Lampung, Indonesia, is holding at $ 7,542/ton, while the price of white pepper from Muntok, Indonesia, stays at $ 9,097/ton.

In Malaysia, Kuching ASTA black pepper is priced at $ 8,800/ton, and white ASTA pepper is trading at $ 10,900/ton.

For the Brazilian market, ASTA 570 black pepper is being traded at $ 7,500/ton.

In Vietnam, black pepper for export (500 g/l) is priced at $ 6,600/ton, while the 550 g/l variety is at $ 7,000/ton. White pepper for export remains at $ 9,300/ton.

Global pepper prices remain steady today after a slight fluctuation yesterday.

According to the Indian Pepper and Spice Trade Association (IPSTA), the daily pepper sales volume in Kochi ranges between 20-25 tons, primarily from imported sources.

Mr Kishor Shamji, director of IPSTA, reported that imports from Sri Lanka are particularly high, with July alone seeing 4,400 tons out of a total of 5,085 tons imported.

“The market is experiencing a wave of panic selling as importers rush to offload excess stock. This has caused panic, with fears that prices may continue to drop”, said Mr Kishor Shamji.

Additionally, many consumer markets in India are flooded with imported pepper of poor quality, exhibiting issues such as high moisture content, low bulk density, and mould. This has forced distributors to liquidate their inventory at discounted prices, leading to further price declines.

Thus, global pepper prices on 09/11/2024, remain unchanged from yesterday.

Pepper prices on September 11 domestically

In Vietnam, the domestic pepper market has seen a sharp rise compared to yesterday.

Dak Lak increased by VND 2,500, with pepper trading at VND 155,500/kg.

Dak Nong saw a VND 2,000 increase, reaching VND 155,000/kg.

Gia Lai pepper prices rose by VND 1,000, now trading at VND 153,000/kg.

In Dong Nai, prices increased by VND 2,000, with traders purchasing pepper at VND 153,000/kg.

Similarly, pepper prices in Ba Ria - Vung Tau reached VND 155,000/kg.

In contrast, Binh Phuoc remained stable, with pepper trading at VND 152,000/kg.

Domestic pepper prices today have surged by VND 1,000 - 2,500, pushing this agricultural product above the VND 155,000/kg mark.

Thus, domestic pepper prices on 09/11/2024, are trading around VND 152,000 - 155,500/kg.

$ 1 = VND 24.355 - Source: Vietcombank.