Pepper price on 04/03/2024: Recovering again

Pepper price on April 3 in the world 

Around the world, the pepper market on April 3 simultaneously went sideways in many countries. 

Accordingly, the price of Lampung black pepper in Indonesia is anchored at $ 4,453/ton. The price of Muntok white pepper in this country remains at $ 6,165 /ton. 

Malaysia's Kuching ASTA black pepper price remained stable at $ 4,900/ton; This country's ASTA white pepper is still priced at $ 7,300/ton. 

For the Brazilian market, the price of ASTA 570 black pepper remains at $ 4,500/ton. 

In Vietnam, export prices of black pepper grades 500 and 550 g/l remained at $ 4,200 and $ 4,300/ton, respectively. The export price of white pepper is anchored at $ 6,000/ton.

Today's world pepper prices have no new fluctuations. Last week, the global pepper market fluctuated in opposite directions. 

In particular, India's domestic and export pepper prices recorded an increase. Meanwhile, despite the Sri Lankan Rupee increasing by 1% against USD (302.38 LKR/USD), Sri Lankan domestic pepper prices recorded a decrease. 

In Southeast Asia, Indonesian black pepper prices recorded an increase in the past 3 weeks. Meanwhile, the price of white pepper in this country decreased. Only Malaysian domestic black pepper prices recorded an increase last week, while other types were stable and unchanged.

Also in the last week, Vietnam's domestic pepper prices moved sideways but export prices recorded an increase over the past 2 weeks. Brazilian black pepper recorded an increase in price last week. Prices of Cambodian black pepper and Chinese white pepper continue to stabilize and move sideways.

Thus, world pepper prices on 04/03/2024 are flat compared to yesterday.

Pepper price on April 3 in the country

Domestically, the pepper market on April 3 increased slightly compared to yesterday.

Specifically, Dak Lak and Dak Nong today increased by VND 500, trading price up to VND 94,000/kg;

Today's pepper price in Gia Lai also increased slightly, to VND 92,500/kg;

In Dong Nai, traders continue to purchase at a price of VND 92,500/kg;

The latest pepper price in Ba Ria - Vung Tau is still anchored at VND 93,500/kg;

Meanwhile, traders in Binh Phuoc traded pepper for VND 93,500/kg, after an increase of VND 500.

Domestic pepper prices today were flat in Dong Nai and Ba Ria Vung Tau, but increased slightly by VND 500/kg in other key areas.

According to VPSA, in the last 3 years, domestic pepper exports usually peaked within 4 months, from March to July. March 2023 recorded up to 36,000 tons of export products.

The General Statistics Office said that Vietnam's pepper exports in March 2024 reached about 25,000 tons, down 1/3 compared to the same period in 2023. This also shows that the domestic pepper supply is facing difficulties.

One of the reasons for this situation is that many farmers are still hesitant to sell because they expect higher prices. This shows that farmers are deciding the price of pepper. 

Thus, the domestic pepper price on 04/03/2024 is trading around VND 92,500 - 94,000/kg.