Pepper prices on 06/13/2024: A sharp decline

Pepper prices on June 13 globally

Globally, the pepper market on June 13 saw a slight decline in Indonesia but remained stable in other countries.

Specifically, the price of black pepper Lampung in Indonesia decreased by 0.02% to $ 6,448/ton. Meanwhile, the price of white pepper Muntok from this country fell by 0.01%, settling at $ 8,416/ton.

The price of Kuching ASTA black pepper in Malaysia remained stable at $ 4,900/ton, while white pepper ASTA from this country still held at $ 7,300/ton.

In the Brazilian market, the price of black pepper ASTA 570 stayed at $ 8,500/ton.

In Vietnam, the export price of black pepper 500 g/l was traded at $ 7,800/ton, while the 550 g/l variety held steady at $ 8,000/ton. The export price of white pepper remained fixed at $ 12,000/ton.

World pepper prices today continue the downward trend in Indonesia while remaining stable in other markets.

During the past week, both domestic and international pepper prices in India continued to rise. Meanwhile, domestic pepper prices in Sri Lanka have been increasing since last month.

In Southeast Asia, only Indonesian black pepper prices have seen an increase since last week, while white pepper prices remain stable. Malaysian domestic and export pepper prices have stayed stable and unchanged.

Apart from the significant rise in Brazilian black pepper prices, Chinese white pepper prices have also increased. The rise in Chinese pepper prices in Hainan is attributed to anticipated low production and domestic speculation. Meanwhile, Cambodian black pepper prices have remained stable and unchanged.

In the U.S. market, both black and white pepper prices have risen significantly due to limited supply and purchasing pressure from Europe and China.

Thus, global pepper prices on 06/13/2024 continued to slightly decrease in Indonesia compared to yesterday.

Pepper prices on June 13 domestically

In the domestic market, pepper prices on June 13 saw a sharp decline of up to VND 21,000/kg compared to yesterday.

Specifically, in Dak Lak, prices dropped significantly by VND 19,000, with pepper being purchased at VND 160,000/kg.

Prices in Dak Nong fell by VND 20,000, bringing pepper trading to VND 160,000/kg.

In Gia Lai, prices increased to VND 155,000/kg after a sharp drop of VND 21,000.

In Dong Nai, prices decreased by VND 20,000, with pepper being bought at VND 156,000/kg.

In Ba Ria - Vung Tau, prices climbed to VND 160,000 VND/kg, down by VND 19,000.

In Binh Phuoc, prices dropped by VND 21,000, with pepper trading at VND 155,000/kg.

The domestic pepper price today sharply reversed course after a hot streak, plunging to around VND 160,000/kg. 

Meanwhile, the local coffee price surged by VND 1,200, approaching nearly VND 123,000/kg.

According to experts, this decline is a correction to bring pepper prices back to their true value. Recent fluctuations in domestic pepper prices have been heavily influenced by speculative activities, inflating prices beyond reasonable levels.

Despite ongoing supply-demand factors supporting the market, the rapid escalation over the past month is unreasonable.

Thus, on 06/13/2024, domestic pepper prices are trading around VND 155,000 - 160,000/kg.

$ 1 = VND 25.187 - Source: Vietcombank