Pepper price on 06/24/2024: Highest at VND 161,000/kg

Pepper price on June 24 globally

Globally, the pepper market on June 24 remains stable with no new fluctuations.

Specifically, the price of black pepper in Lampung, Indonesia, remains at $ 7,772/ton. Meanwhile, the price of white pepper from Muntok, Indonesia, is steady at $ 9,691/ton.

The price of black pepper Kuching ASTA in Malaysia is stable at $ 7,500/ton, and white pepper ASTA from Malaysia is priced at $ 8,800/ton.

In the Brazilian market, the price of black pepper ASTA 570 is steady at $ 7,500/ton.

In Vietnam, the export price of black pepper 500 g/l is trading at $ 6,500/ton, while the 550 g/l type is at $ 6,900/ton. The export price of white pepper is stable at $ 9,700/ton.

Today, global pepper prices remain stable. Over the past week, the pepper market has shown mixed reactions. While prices in India continued to rise, Southeast Asian countries recorded declines.

Recently, global pepper supply has decreased while demand from the U.S. and other major markets has increased, pushing pepper prices to their highest level in the past eight years.

Thus, on 06/24/2024 global pepper prices remained unchanged compared to yesterday.

Pepper prices on June 24 domestically

Domestically, the pepper market on June 24 remains stable compared to yesterday.

Specifically, in Dak Lak, pepper is still being purchased at VND 160,000/kg;

In Dak Nong, today's pepper trading is at VND 161,000/kg;

In Gia Lai, pepper is being bought at VND 157,000/kg today;

Traders in Dong Nai are still trading pepper at VND 157,000/kg;

The price of pepper in Ba Ria - Vung Tau today remains at VND 158,000/kg;

Meanwhile, traders in Binh Phuoc are trading pepper at VND 156,000/kg.

Today, domestic pepper prices continue to remain stable, with the highest price reaching VND 161,00/kg. Over the past week, the domestic pepper market has seen a strong increase of VND 3,000/kg.

According to the Vietnam Pepper Association (VPSA), in the first five months of 2024, Vietnam exported 114,424 tons of pepper, generating $ 493.1 million. This represents a 13.2% decrease in volume but a 20.6% increase in export value compared to the same period last year.

During this period, the United States surpassed China to regain its position as the largest export market for Vietnamese pepper, with a volume of 30,466 tons, accounting for 26.6% of the market share and marking a 44.4% increase compared to the same period last year.

According to data from the United States International Trade Commission (USITC), the demand for pepper imports in the U.S. is increasing strongly again after two consecutive years of decline due to the impact of inflation and high interest rates.

As of the end of April this year, the U.S. had imported 27,872 tons of pepper from around the world, valued at $ 130.53 million, representing a 24.5% increase in volume and a 24.2% increase in value compared to the same period last year.

In April alone, the volume of imported pepper was 8,007 tons, up 39% from the previous month and 32.8% from April 2023.

Notably, Vietnam continues to be the largest supplier of pepper to the U.S. in the first four months of the year, accounting for 76% of the market share with a volume of 21,259 tons, valued at over $ 97.3 million, an increase of 19.2% in volume and 21.5% in value compared to the same period last year.

Thus, on 06/24/2024, domestic pepper prices are trading around VND 156,000 - 161,000/kg.

$ 1 = VND - Source: Vietcombank