Pepper prices on 05/21/2024: Remain at VND 111,000/kg

Pepper prices on May 21 globally

Globally, the pepper market remains unchanged on May 21.

Specifically, the price of black pepper in Lampung, Indonesia, is stable at $ 4,934/ton. Meanwhile, the price of white pepper in Muntok, Indonesia, holds steady at $ 6,488/ton.

The price of Kuching ASTA black pepper in Malaysia remains stable at $ 4,900/ton, while Malaysian ASTA white pepper is still priced at $ 7,300/ton.

In Brazil, the price of ASTA 570 black pepper is $ 5,000/ton.

In Vietnam, the export prices for black pepper grade 500 g/l and 550 g/l remain at $ 4,600 and $ 4,700/ton, respectively. The export price for white pepper is steady at $ 6,600/ton.

World pepper prices are stable across all countries. Production is not only decreasing in Vietnam but also in Indonesia, India, Malaysia, and Sri Lanka.

Additionally, Brazil is facing a decline in pepper production due to the impact of El Nino. The global reduction in production has supported the increase in pepper prices since September and October 2023, and prices have surged significantly since the Lunar New Year.

Given the current situation, global pepper production cannot meet the rising demand over the next 3 to 5 years. However, experts advise farmers not to expand their pepper cultivation areas indiscriminately. Instead, they should focus on intensive farming practices to ensure sustainable and stable pepper production.

Thus, global pepper prices on 05/21/2024, remain unchanged from the previous day.

Pepper prices on 05/21/2024 domestically

In Vietnam, the domestic pepper market on May 21 remains stable compared to the previous day.

Specifically, in Đắk Lắk, pepper continues to be purchased at VND 111,000/kg.

In Dak Nong, today's pepper price is maintained at VND 111,000/kg.

In Gia Lai, the pepper price remains at VND 110,000/kg.

In Dong Nai, traders are still buying pepper at VND 110,000/kg.

In Ba Ria - Vung Tau, the latest pepper price is VND 111,000/kg.

In Binh Phuoc, traders are still trading pepper at VND 111,000/kg.

Domestic pepper prices today continue to remain steady with the highest level reaching VND 111,000/kg. Since the beginning of May, the domestic pepper market has increased significantly by VND 13,000/kg.

The increase in domestic pepper prices is a welcome development for farmers, compensating for the years when prices were too low (2019 and 2020).

With the price trend since the beginning of the year, experts are confident that this agricultural product will continue its new price increase cycle. The main reason is the limited supply of pepper globally.

Thus, domestic pepper prices on 05/21/2024, are trading around VND 110,000 - 111,000/kg.

$ 1 = VND 25.233 - Source: Vietcombank