Pepper price on 08/04/2024: Slightly increased again

Pepper prices on August 4 globally

On the global market, the pepper market on August 4 showed no new fluctuations.

Accordingly, the price of black pepper Lampung in Indonesia is stable at $ 7,176/ton. The price of white pepper Muntok from this country remains at $ 8,793/ton.

The price of black pepper Kuching ASTA in Malaysia remains at $ 8,500/ton; while the price of white pepper ASTA from this country is at $ 10,400/ton.

In the Brazilian market, the price of black pepper ASTA 570 is traded at $ 6,750/ton.

In Vietnam, the export price of black pepper type 500 g/l is traded at $ 6,000/ton; while the price of type 550 g/l is at $ 6,600/ton. The export price of white pepper remains at $ 8,800/ton.

Latest Domestic and Global Pepper Prices as of August 4, 2024

Global Pepper Prices on August 4, 2024

Global pepper prices remain stable today. Summarizing this week, the pepper market continues to show mixed movements. After declining for the past three weeks, domestic and international pepper prices in India have increased this week.

Exports from the world's major producing countries have shown contrasting trends. In the first half of 2024, the top two exporters in the world, Vietnam and Brazil, saw declines of 6.8% and 6%, respectively. Similarly, Malaysia's exports also decreased by 8.1%, while exports from Indonesia and India increased by 48.3% and 34.1%, respectively.

Compared to the same period in 2023, in the first six months of 2024, the average FOB prices of black pepper and white pepper in most major producing countries rose significantly, except for India. Specifically, the average FOB price of black pepper increased by 27%, and the average FOB price of white pepper increased by 14% compared to the same period last year. The most significant increase was recorded for black pepper from Brazil, followed by Vietnam and Indonesia.

Thus, global pepper prices on 08/04/2024, have slightly increased in Indonesia compared to yesterday.

Pepper prices on August 4 domestically

In the domestic market, pepper prices on August 4 have slightly increased compared to yesterday.

In Dak Lak, prices slightly increased by VND 500, with pepper purchased at VND 147,000/kg.

The price of pepper in Dak Nong today increased by VND 1,000, reaching VND 147,000/kg.

The price of pepper in Gia Lai remained steady, trading at VND 146,000/kg.

Traders in Dong Nai purchased pepper at VND 147,000/kg, an increase of VND 1,000.

Similarly, the price of pepper in Ba Ria - Vung Tau today reached VND 147,000/kg.

In Binh Phuoc, prices also increased by VND 1,000, trading at VND 147,000/kg.

Domestic pepper prices today have increased by VND 500 - 1,000, bringing the trading price to around VND 147,000/kg. Summarizing this week, domestic pepper prices have decreased on average by VND 3,000/kg.

At the conference, Mr Le Viet Anh, General Secretary of VPSA, assessed that the pepper market would experience unusual fluctuations, such as on the morning of June 11, when prices surged by VND 20,000/kg only to drop sharply again in the afternoon.

Mr. Viet Anh noted that pepper is increasingly competing with durian and coffee. New planting areas are emerging but not significantly, primarily intercropping pepper with coffee at a 6-2 ratio. The next harvest is expected to be similar to or slightly higher than in 2024. The remaining stock among farmers is not much, and pest and disease conditions, while present, are not severe.

Vietnam's pepper exports in the first six months of 2024 reached 142,500 tons, with a harvest yield of approximately 170,000 tons in 2024, leaving an estimated 28,000 tons remaining. The stock from the 2023 season, plus imports in 2024 amounting to around 40,000-45,000 tons, suggests that the export supply from August to the end of the year will be lower than in previous years.

Additionally, the impact of climate change, such as El Niño and La Niña, is becoming more severe, leading to some pepper farms experiencing waterlogging, which increases the risk of diseases, fruit drop, nutrient deficiency, yellowing leaves, and pest infestations.

Pepper production in other countries, including Brazil and Indonesia, is also forecasted to decrease this year, which will affect the supply in the last months of 2024.

Thus, domestic pepper prices on 08/04/2024, are trading around VND 146,000 - 147,000/kg.

$ 1 = VND 25.010 - Source: Vietcombank.