Pepper market June 12, 2024


 

Pepper
price today June 12 is in the range of 155,000 – 160,000 VND/kg. After a
series of consecutive increases, the official domestic pepper price
dropped sharply by 20,000-25,000 VND/kg. The International Pepper
Community sharply increased Vietnam’s pepper export prices while
slightly decreasing Indonesian pepper prices.

At
the end of the most recent trading session, the International Pepper
Community (IPC) listed Lampung (Indonesia) black pepper price at 6,449
USD/ton, down 0.03%; Brazilian black pepper price ASTA 570 is at 8,500
USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900
USD/ton.

Muntok white pepper price was 8,417 USD/ton, down 0.04%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam
black pepper price is trading at 7,300 USD/ton for 500 g/l type; type
550 g/l at 7,800 USD/ton, up 16.25%; White pepper price was at 10,700
USD/ton, an increase of 20.83%. The International Pepper Community
sharply increased Vietnam’s pepper export prices while slightly
decreasing Indonesian pepper prices.

Pepper
prices in the world and in Vietnam increased sharply because Brazil and
Vietnam, the two countries that determine global supply, are having a
decline in output due to El Nino weather causing drought. Supply in
Indonesia, India, Malaysia, and Sri Lanka is also limited.

According
to assessments, in the long term in the next 3-5 years, the amount of
pepper produced cannot meet the world’s consumer demand.

Factors
other than supply and demand pushing pepper to skyrocket include
shipping costs. The global container index, representing spot container
freight rates on major international shipping routes, has returned to
the peak of the Covid-19 epidemic.

Shipping
market research firm Linerlytica said that ports in Southeast Asia are
becoming the “most serious bottleneck” for world maritime transport
activities, when 26% of global container capacity is stuck in this area.

This
has been implanted in product prices, causing goods to increase in
recent times. Besides, domestic speculation activities are also
considered one of the main causes of the current price increase. The
market is also driven by increasing purchasing power each month from
China.

According to KTĐT.vn



source https://updates.buyorganic.co.za/pepper-market-june-12-2024/

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