Pepper prices on 06/15/2024: Reversed, dropping by VND 5,000/kg

Pepper prices on June 15 globally

On the global market,pepper prices on June 15 continued to decline in Indonesia and Brazil.

Accordingly, in Indonesia, the price of Lampung black pepper decreased by 0.53%, dropping to $ 6,418/ton. Meanwhile, the price of Muntok white pepper fell by 0.54%, reaching $ 8,377/ton.

In Malaysia, the price of Kuching ASTA black pepper remained stable at $ 4,900/ton, while the price of ASTA white pepper also held steady at $ 7,300/ton.

In Brazil, the price of ASTA 570 black pepper further decreased by $ 300, bringing it down to $ 7,900/ton.

In Vietnam, the export price for black pepper 500 g/l is trading at $ 7,800/ton, and 550 g/l black pepper is holding at $ 8,000/ton. The export price for white pepper remains at $ 12,000/ton.

Global pepper prices today continue to decline in Indonesia and Brazil, while other markets remain stable. The IPC assesses that the pepper market this week continues to show positive prospects, as no markets are recording a decline.

Thus, global pepper prices on 06/15/2024, have slightly decreased in some areas compared to yesterday.

Pepper prices on June 15 domestically

In the domestic market, pepper prices on June 15 have reversed and dropped sharply compared to yesterday.

Specifically, in Dak Lak, prices decreased by VND 3,000, bringing the purchase price of pepper to VND 157,000/kg.

In Dak Nong, prices increased by VND 5,000, with today's pepper price trading down to VND 157,000/kg.

In Gia Lai, the price of pepper today rose to VND 155,000/kg after a VND 5,000 decrease.

Similarly, traders in Dong Nai are purchasing pepper at a price of VND 155,000/kg.

In Ba Ria - Vung Tau, the price of pepper is climbing to VND 157,000/kg, a sharp drop of VND 4,000.

In Binh Phuoc, traders are dealing in pepper at a price of VND 156,000/kg, a reduction of VND 5,000.

Domestic pepper prices today have dropped sharply by VND 3,000 - 5,000, bringing the commodity down to the level of VND 157,000/kg. For coffee, the price of this agricultural product has also decreased significantly, losing up to VND 2,000 and currently trading around VND 119,500 - 120,700/kg.

Recently, the price of black pepper in the domestic market has risen sharply due to limited supply and strong demand. Although pepper prices are forecast to continue increasing in the future, regulatory agencies advise against massively expanding the planting area. Instead, they recommend focusing on intensive cultivation and care to ensure sustainable and stable pepper development.

In May 2024, Vietnam's pepper exports were estimated to reach 30 thousand tons, valued at $ 135 million, an increase of 14.4% in volume and 15.9% in value compared to April 2024, and an increase of 3.7% in volume and 49.9% in value compared to May 2023.

Overall, in the first five months of 2024, Vietnam's pepper exports are estimated to reach 113 thousand tons, valued at $ 487 million, a decrease of 14.1% in volume but an increase of 19.7% in value compared to the same period last year.

According to data from the General Department of Customs, Vietnam's pepper exports in April 2024 reached over 26.21 thousand tons, valued at $ 116.27 million, an increase of 1.2% in volume and 4.2% in value compared to March 2024, and a decrease of 0.8% in volume but an increase of 39.3% in value compared to April 2023.

Overall, in the first four months of 2024, Vietnam's pepper exports reached 82.97 thousand tons, valued at $ 351.91 million, a decrease of 19.1% in volume but an increase of 11.1% in value compared to the same period in 2023.

Thus, domestic pepper prices on 06/15/2024, are trading around VND 155,000 - 157,000/kg.

$ 1 = VND 25.191 - Source: Vietcombank