Pepper prices on 05/05/2024: Soaring, reaching VND 104,000/kg

Pepper prices on May 5 globally

In the world market, the pepper market on May 5 shows no new fluctuations in various countries.

The black pepper price in Lampung, Indonesia, remains pegged at $ 4,757/ton. Meanwhile, the white pepper price in Muntok, Indonesia, maintains at $ 6,303/ton.

The black pepper price of Kuching ASTA in Malaysia holds steady at $ 4,900/ton, with the white pepper ASTA of this country still priced at $ 7,300/ton.

For the Brazilian market, the price of black pepper ASTA 570 remains at $ 4,700/ton.

In Vietnam, the export price of black pepper for grades 500 and 550 g/l respectively holds at $ 4,400 and $ 4,500/ton. The export price of white pepper remains at $ 6,000/ton.

World pepper prices today remain stable. Summarizing this week, the global pepper market shows a positive trend with no country reporting a decrease. In particular, the prices of pepper in India and Indonesia, both domestically and internationally, have increased.

This is due to benefiting from the continuous decline in coffee prices, with capital flows shifting to pepper, making the market more active.

Furthermore, concerns about the pepper supply from Vietnam and Brazil being affected by the El Nino phenomenon have led to even higher prices. And this concern is expected to further drive up pepper prices in the coming time.

Thus, the world pepper prices on 05/05/2024, remain unchanged compared to yesterday.

Pepper prices on May 5 domestically

In the domestic market, the pepper market on May 5 continues to heat up compared to yesterday.

Specifically, in Dak Lak, prices increased by an additional VND 2,000, reaching VND 103,000/kg for purchases.

In Dak Nong, today's pepper prices surged by VND 4,000, reaching VND 104,000/kg.

The price of pepper in Gia Lai today reached VND 103,000/kg, an increase of VND 3,000.

Similarly, traders in Dong Nai province are purchasing pepper at the price of VND 103,000/kg, also with a VND 3,000 increase.

Likewise, the latest price of pepper in Ba Ria - Vung Tau reached VND 103,000/kg.

Meanwhile, traders in Binh Phuoc province increased their prices by VND 3,000, trading pepper at VND 104,000/kg.

The domestic pepper price today continues its soaring trend, adding an additional VND 2,000 - 4,000=, easily reaching the threshold of VND 104,000/kg. Summarizing this week, the domestic pepper market has shockingly increased by up to VND 6,000/kg.

Some major enterprises in the pepper industry have stated that they have already signed contracts with European customers until September 2024 and are actively implementing plans to collect raw materials to prepare sufficient quantities and quality for their partners.

Diversifying export markets is the key to helping the Vietnamese pepper industry maintain its leading position globally. Although pepper exports to China have decreased significantly, the target of reaching $ 1 billion in exports for this year is still achievable through the first 4 months of 2024.

Thus, the domestic pepper price on 05/05/2024, is trading around VND 103,000 - 104,000/kg.

$ 1 = VND 25.117 - Source: Vietcombank