Pepper prices on 04/24/2024: Slight increase in Dak Nong, Gia Lai

Pepper prices on April 24 globally

In the global market, the pepper market on April 24 saw a slight decrease in Indonesia but remained steady in other countries.

Specifically, the price of black pepper from Lampung, Indonesia, decreased by 0.13% to $ 4,572/ton. Meanwhile, the price of white pepper from Muntok in the same country also saw a slight decrease of 0.13%, reaching $ 6,038/ton.

The price of black pepper ASTA from Kuching, Malaysia, remained stable at $ 4,900/ton, while white pepper ASTA from the same country maintained its price at $ 7,300/ton.

In Brazil's market, the price of black pepper ASTA 570 was anchored at $ 4,450/ton.

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

World pepper prices today are experiencing a slight decrease in Indonesia and remain stable in other markets.

In the first quarter of 2024, Brazilian black pepper prices surged by 37.6%, while those of Indonesia and Vietnam rose by 13% and nearly 8%, respectively.

Nedspice has lowered its forecast for Brazil's pepper output in 2024 to between 85,000 and 90,000 tons compared to last year's 110,000 tons due to harsh weather conditions and drought caused by the El Niño phenomenon. Severe weather in pepper-growing regions in the states of Espírito Santo and Bahia will negatively impact the harvest expected from April to June 2024.

In Indonesia, pepper production is expected to reach 33,000 tons, an increase of about 10% compared to the previous season, but still lower than the average production from 2013 to 2022.

However, pepper output in India and Sri Lanka is forecasted to be relatively good in 2024.

Thus, on 04/24/2024, global pepper prices saw a slight decrease in Indonesia compared to the previous day.

Pepper prices on April 24 domestically

In the domestic market, the pepper market on April 24 saw little change compared to the previous day.

Specifically, in Dak Lak, pepper is still being purchased at a price of VND 98,000/kg;

In Dak Nong, the price of pepper today increased slightly to VND 97,500/kg.

Similarly, in Gia Lai, the price of pepper today rose slightly to VND 97,500/kg;

Traders in Dong Nai continue to purchase pepper at VND 96,500/kg;

The latest pepper price in Ba Ria - Vung Tau is VND 98,000/kg;

Meanwhile, traders in Binh Phuoc continue to trade pepper at a price of VND 98,000/kg.

In the domestic market today, pepper prices only slightly increased in Dak Nong and Gia Lai, while other key regions remained unchanged.

In the first quarter of 2024, Vietnam's domestic black pepper prices surged by 16 - 18.6%, reaching VND 92,500 - 96,000/kg - the highest level in the past 7 years. However, by the first half of April 2024, the price of this agricultural product had decreased to VND 89,000 - 92,000/kg but still remained about 40% higher than in the same period last year.

VPSA forecasts that Vietnam's pepper production this year is expected to decrease by 10%, to around 170,000 tons compared to last year - the lowest level in the past 5 years.

Meanwhile, severe drought, especially in key pepper-producing areas in the Central Highlands region, may affect the upcoming harvest season. According to Nedspice, the total harvest output this time is expected to decrease by 15% compared to last year.

While the global El Nino phenomenon is expected to soon pass, the Central Highlands region is currently experiencing drought conditions in recent months. This could significantly affect pepper production in the 2025 crop season.

Thus, domestic pepper prices on 04/24/2024 are trading around VND 96,500 - 98,000/kg.

$ 1 = VND 25.147 - Source: Vietcombank