Pepper price on 08/12/2023: Imports in July fell sharply

Pepper price on August 12 in the world

World pepper price on August 12 decreased slightly in Indonesia but remained unchanged in other countries. 

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.12%; at $4,129/ton. And the price of Muntok white pepper in this country decreased by 0.13%; at $6,809/ton.

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

For the Brazilian market, the price of black pepper ASTA 570 is kept at $2,900/ton.

In Vietnam, the export price of 500 and 550 g/l black pepper is $3,500 and $3,600/ton, respectively. The export price of white pepper remained at $5,100/ton.

The world pepper price today turned down slightly in Indonesia and remained stable in other markets.

In their comments this week, IPC said that the pepper market reaction is mixed when only domestic white pepper in Malaysia was reported to decrease.  

Indian pepper prices continue to trend up since mid-July 2023. Demand for the upcoming festive season in India has led to shortages and pushed up prices for the spice in the South Asian country. Along with that, there are concerns about weather conditions that will reduce the yield of the next crop. 

Both Indonesia's domestic and export prices are trending up this week, as some areas in Lampung announce the start of harvest. 

In Malaysia, domestic white pepper decreased this week. Meanwhile, local prices for Sri Lankan pepper continue to be reported with an upward trend over the past 4 weeks

IPC also assessed that the export price of pepper in Vietnam remained stable and unchanged due to the quiet market. 

Thus, pepper prices on 08/12/2023 in the world decreased slightly in Indonesia compared to yesterday.

Pepper price on August 12 in the country

The domestic pepper price on August 12 has no new changes compared to yesterday.

Specifically, Dak Lak and Dak Nong price today are kept at VND 72,000/kg;

In Gia Lai, today's trading price continues to be around VND 71,000/kg;

Dong Nai is still purchasing at VND 71,000/kg today;

The latest pepper price in Ba Ria - Vung Tau is anchored at VND 74,000/kg;

And Binh Phuoc today traded at VND 73,000/kg, unchanged from yesterday. 

Domestic pepper prices today are still maintaining stable, with the highest threshold at VND 74,000/kg.

According to data in July 2023 from the Vietnam Pepper and Spices Association, our country imported 2,198 tons of pepper, of which black pepper reached 2,110 tons, and white pepper reached 88 tons. Total import turnover in July 2023 reached $7.4 million, down 14.9% compared to the previous month's import volume.

By the end of July 2023, Vietnam had imported 17,281 tons of pepper of all kinds, of which black pepper reached 16,225 tons, white pepper reached 1,056 tons, decreased by 32.9% in import volume compared to the same period last year (equivalent to 8,469 tons).

Thus, pepper prices on 08/12/2023 in the country are around VND 71,000 - 74,000/kg.

$1 = VND 23,540.00 - Source: Vietcombank