Pepper prices on 06/20/2024: Prices drop by VND 2,000

Pepper prices on June 20 globally

On the global market, the pepper market on June 20 saw significant increases in Indonesia and Malaysia.

Accordingly, black pepper prices (Lampung) in Indonesia surged to $ 7,814/ton, an increase of $ 1,396. Meanwhile, white pepper Muntok from the same country rose sharply to $ 9,744/ton, up by $ 1,367.

In Malaysia, black pepper (Kuching ASTA) prices soared to $ 7,500/ton, marking an increase of $ 2,600. Similarly, white pepper (ASTA) prices from Malaysia also spiked by $ 1,50 USD to reach $ 8,800/ton.

In Brazil, black pepper (ASTA 570) maintained its price stability at $ 7,600/ton.

In Vietnam, the export prices for pepper are as follows: black pepper 500 g/l is trading at $ 7,800/ton, while black pepper 550 g/l is holding at $ 8,000/ton. White pepper for export is priced at $ 12,000/ton.

World pepper prices today surged in Indonesia and Malaysia, while other markets remained stable.

Thus, global pepper prices on 06/20/2024 saw significant increases in several countries compared to yesterday.

Pepper prices on June 20 domestically

Domestically on June 20 pepper markets across Vietnam experienced sharp declines compared to yesterday.

Specifically, in Dak Lak, prices dropped by VND 2,000, with pepper purchased at VND 160,000/kg;

Similarly, in Dak Nong, pepper prices today traded down to VND 160,000/kg;

In Gia Lai, pepper prices today fell to VND 156,000/kg, a decrease of VND 2,000;

Decreasing by an additional VND 1,000, traders in Dong Nai bought pepper at VND 156,000/kg;

With a decline of up to VND 2,000, pepper prices in Ba Ria - Vung Tau dropped to VND 156,000/kg;

Meanwhile, traders in Binh Phuoc traded pepper at VND 155,000 /kg, down by another VND 1,000.

Today, domestic pepper prices dropped sharply by VND 1,000 - 2,000/kg, bringing the commodity down to VND 160,000/kg.

Preliminary statistics from VSPA show that Vietnam exported 16,211 tons of pepper in the first 16 days of June 2024. Of this, black pepper reached 14,347 tons and white pepper reached 1,864 tons. The total export turnover reached $ 77.8 million.

Meanwhile, Vietnam imported 1,357 tons of pepper, with a total import turnover of $ 6.6 million. Indonesia, Cambodia, and Brazil are the three main pepper suppliers to Vietnam, reaching 596 tons, 486 tons, and 135 tons respectively.

VSPA also mentioned that there is still pepper stock among farmers, but instead of selling in bulk, they are selling in small quantities while monitoring the market as pepper prices continue to rise.

Businesses, on the other hand, are facing difficulties in trading and selling. The quantity of pepper entering the market is not abundant, while businesses have previously signed contracts at fixed prices and are now unable to purchase due to the significantly higher prices.

Thus, domestic pepper prices on 06/20/2024, are trading around VND 155,000 - 160,000/kg.

$ 1 = VND 25.217 - Source: Vietcombank