Pepper price on 04/05/2024: Still struggling around VND 94,000/kg

Pepper price on April 5 in the world

In the world, the pepper market on April 5 remained stable in many countries.

Accordingly, the price of Lampung black pepper in Indonesia is anchored at $ 4,446/ton. The price of Muntok white pepper in this country is flat; at $ 6,156/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 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.

VPSA Association said that the global corporation McCormick (USA) is currently investing in many countries such as India, China and some European countries. This is also the largest importer of spices in the US.

In 2023, the US will import 54 thousand tons of Vietnamese pepper, accounting for 20.5% of exports to markets. Of which, McCormick imported 3.5 thousand tons. However, this business has not expanded its investment in Vietnam even though it is the largest pepper-importing partner. 

Currently, this company is only a partner and selected several large companies to supply pepper for export to the US market. 

Thus, world pepper prices on 04/05/2024 were flat compared to yesterday.

Pepper price on April 5 in the country

Domestically, the pepper market on April 5 was less volatile than yesterday.

Specifically, pepper prices in Dak Lak and Dak Nong today are still trading at VND 94,000/kg;

Pepper price today in Gia Lai increased slightly by VND 500, to VND 92,500/kg;

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

The latest pepper price in Ba Ria - Vung Tau is anchored at VND 93,000/kg;

Binh Phuoc traders are still trading pepper at the price of VND 93,000/kg.

Domestic pepper prices today continue to struggle around the threshold of VND 94,000/kg, only Gia Lai increased the price slightly by VND 500/kg, while prices in other key regions remained unchanged.

Within the past year, domestic pepper prices have increased by VND 30,000/kg. Starting after the Lunar New Year Giap Thin 2024, domestic pepper prices continuously increased. In addition to internal factors, it is also because Brazil has passed the harvest season, while the main harvest in Indonesia or Malaysia has to wait until July.

Rising prices help excite pepper farmers, but they also cause consequences. The price of these agricultural products fluctuates erratically, causing many farming households to fall into the rhythm of "chop - plant, plant - chop". 

To date, pepper prices have increased (around VND 94,000 /kg) but the area and output have decreased due to the increase in the area of some more profitable crops. Vietnamese pepper used to account for an average of 40% of annual global output, but by 2024 it is forecast to decrease to 31.8%. 

Not to mention the rising prices of agricultural products, leading to disputes over purchases and sales, commercial fraud, non-compliance with contractual agreements, forced buying, forced selling, forced prices and unsatisfactory product quality... Which has become common in recent years.

Thus, the domestic pepper price on 04/05/2024 is trading around VND 92,500 - 94,000/kg.