Domestic pepper price today

Pepper price today, June 27, 2024, in the Southeast region increased sharply by 5,000 VND/kg in some localities, trading around 150,000 VND/kg, the highest purchase price in Dak Lak province is 151,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 151,000 VND/kg. Chu Se pepper price (Gia Lai) is currently at 150,000 VND/kg. Dak Nong pepper price today is recorded at 150,000 VND/kg.

Pepper price today June 27, 2024: All increased sharply by 5,000 VND/kg, Dak Lak reached the peak of 151,000 VND/kg

In the Southeast region, pepper prices today increased by 5,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it was 150,000 VND/kg; in Binh Phuoc, pepper prices reached 150,000 VND/kg.

Domestic pepper prices today increased sharply, trading at 150,000 VND/kg. Thus, domestic pepper prices today increased in some key localities compared to yesterday. In all localities, pepper prices are at 150,000 VND/kg or higher. The highest pepper price was recorded at 151,000 VND/kg.

World pepper price today

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,112 USD/ton, up 0.31%; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton, up 300 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,056 USD/ton, up 0.32%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 7,550 USD/ton for 500 g/l, up 24.50%; 550 g/l is at 8,150 USD/ton, up 28.83%; white pepper price is at 11,550 USD/ton, up 31.60%. IPC sharply reduced pepper prices in Indonesia, sharply increased Vietnam's pepper export prices.

Some industry experts said that the recent sharp increase in pepper prices has brought joy to pepper growers but put many dealers at risk of heavy losses.

In the relationship between farmers and buyers, consigning pepper is also a form of profit. At the beginning of the season after harvesting, people will often consign pepper to purchasing agents with the mindset that if they store pepper themselves, they will lose volume. So when they need money, they will go to the agent to close the sale and collect the money.

Meanwhile, purchasing agents who keep goods for farmers often take advantage of the amount of pepper consigned to create other cash flows. In fact, with the same mentality that keeping goods for a long time will cause the risk of loss of volume and quality, agents will screen and classify pepper. High-quality goods will be sold first to businesses to enjoy the price difference at that time to create cash flow to continue to buy more pepper from other farmers, as well as pay people who come to "close the sale", or use for the agent's personal purposes.

Container shipping rates to Europe and the US have doubled since early May due to port congestion at some ports in Asia.

As of June 20, the container freight rate from Shanghai to Rotterdam port (Netherlands) was more than 6,800 USD/FEU (40-foot container), double that of early May.

Similarly, freight rates for the trip from Shanghai to New York increased by about 45% compared to early May to $7,552/FEU.

According to the Vietnam Maritime Administration, the volume of containerized goods imported and exported through Vietnamese seaports in the first 5 months of 2024 reached 7.56 million TEUs, up 16% over the same period in 2023, the highest growth rate in the past 5 years. The increase in shipping rates has affected a number of export enterprises. Many pepper exporting enterprises have recently suffered double losses due to the increase in raw material prices and freight rates.

Domestic pepper price on June 27 , 2024

* Information for reference only. Prices may vary depending on time and location.