The market is sideways, businesses are concerned about the proposal to put pepper on the commodity exchange.

Pepper price today, August 28, 2024, in the domestic market remained stable in most key localities, trading from 143,000 - 144,000 VND/kg.

Pepper price today August 28, 2024: The market is sideways, businesses are worried about putting pepper on the commodity exchange. (Source: Amazon)

Pepper price today, August 28, 2024, in the domestic market remained stable in most key localities, trading from 143,000 - 144,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,500 VND/kg.

Pepper prices today in the provinces of Dong Nai (143,000 VND/kg); Dak Lak (144,000 VND/kg); Dak Nong (144,000 VND/kg); Ba Ria - Vung Tau (143,000 VND/kg) and Binh Phuoc (143,000 VND/kg).

Thus, domestic pepper prices today continued to move sideways in most key localities, with the only increase recorded in Gia Lai, an increase of 500 VND/kg. The highest pepper price was at 144,000 VND/kg.

Mr. Hoang Phuoc Binh - Permanent Vice President and General Secretary of the Chu Se Pepper Association (Gia Lai) informed that the current cost of pepper production is around 70,000 - 80,000 VND/kg. In particular, the cost of pepper production in the Central Highlands is 70,000 VND/kg; in the Southeast region it is 80,000 VND/kg.

Compared to the attractive selling price for farmers to return to pepper plants. Mr. Hoang Phuoc Binh commented, there are still people replanting pepper, but the percentage of people planting pepper is very small, not worth including in the statistics. The number of pepper plants dying naturally in pepper gardens every year is currently around 5 - 7%. The current area of ​​newly planted pepper is lower than this number.

Recently, some businesses said that putting pepper on the trading floor needs to be done carefully because there are many risk factors, including speculation, which negatively impact the stability of the market.

In particular, the General Director of Dak Lak 2-9 Import-Export Company Limited (Simexco Dak Lak) - one of the largest pepper exporting enterprises in Vietnam, said that we should be very careful when trading pepper on the floor because the risk of speculation will increase a lot.

He took the example of coffee - a commodity traded on world exchanges, which is also currently dominated by hedge funds and financial funds despite its large output. Meanwhile, pepper output is not much, so it is easier to be coordinated. If there is intervention by large hedge funds, the price will fluctuate not according to the supply and demand of the real market and the price will fluctuate very strongly.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,5740 USD/ton, up 1.11%; the price of Brazilian black pepper ASTA 570 at 6,300 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,918 USD/ton, up 1.12%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnamese black pepper prices are trading at 5,800 USD/ton for 500 g/l; 550 g/l at 6,200 USD/ton; white pepper prices are at 8,500 USD/ton. IPC increased Indonesian pepper prices on the first day of the week.

Information about the market last week, IPC said, both domestic and export pepper prices in India recorded a decrease, while in Sri Lanka recorded stability.

Source: https://baoquocte.vn/gia-tieu-hom-nay-2882024-thi-truong-di-ngang-doanh-nghiep-ban-khoan-ve-de-xuat-dua-ho-tieu-len-san-giao-dich-hang-hoa-284081.html