Pepper prices on 06/19/2024: Mixed movements

Pepper prices on June 19 globally

On the global market, pepper prices showed little fluctuation on June 19.

Specifically, the price of black pepper Lampung in Indonesia remained at $ 6,418/ton. Meanwhile, the price of white pepper Muntok from this country stayed at $ 8,377/ton.

The price of black pepper Kuching ASTA from Malaysia remained stable at $ 4,900/ton, and white pepper ASTA from Malaysia was still priced at $ 7,300/ton.

In the Brazilian market, the price of black pepper ASTA 570 decreased by $ 300, falling to $ 7,600/ton.

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

The pepper prices on June 19 on the world market saw a sharp decline of 3.95% in Brazil but remained unchanged in other countries.

Thus, the global pepper prices on 06/19/2024, mostly traded sideways compared to yesterday.

Pepper prices on June 19 domestically

In the domestic market, pepper prices showed mixed movements compared to yesterday.

Specifically, in Dak Lak, prices rose by an additional VND 2,000 with pepper being purchased at VND 162,000/kg.

In Dak Nong, pepper traded at VND 162,000/kg today, an increase of VND 1,000.

In Gia Lai, prices remained steady at VND 158,000/kg.

After a decrease of VND 1,000, traders in Dong Nai bought pepper at VND 157,000/kg.

Similarly, pepper in Ba Ria - Vung Tau dropped to VND 158,000/kg.

Meanwhile, traders in Binh Phuoc traded pepper at VND 156,000/kg, a decrease of VND 2,000.

The domestic price of pepper today, June 19, fluctuated between an increase and a decrease of VND 1,000 - 2,000. Currently, the highest price for this agricultural product is VND 162,000/kg.

Preliminary figures from VPSA show that Vietnam's pepper exports in May reached 31,357 tons, generating revenues of $ 141 million, marking a 19.5% increase in volume and a 21.1% increase in revenue compared to the previous month.

Of note, pepper exports to China rebounded strongly with a volume of 3,137 tons, a 4.8-fold increase compared to the previous month, marking the highest level in 11 months.

According to VPSA, China's pepper import demand in the early months of the year remained low due to carryover stocks from the previous year. There are signs indicating that in Q2/2024, China will re-enter the market, initially focusing on white pepper and later on black pepper.

Last year, China was Vietnam's largest pepper market with imports totalling over 60,000 tons. Apart from China, pepper exports to the US and European markets also reached their highest levels in 4-5 years.

Thus, the domestic pepper price on 06/19/2024 is trading around VND 156,000 - 162,000/kg.

$ 1 = VND 25.219 - Source: Vietcombank