Pepper prices on 06/21/2024: Increased slightly in Ba Ria-Vung Tau

Pepper prices on June 21 globally

On the global market, pepper prices on June 21 saw a decline in Indonesia but remained unchanged in other countries.

Specifically, the price of black pepper from Lampung, Indonesia, decreased by $ 24, reaching $ 7,790/ton. The price of white pepper from Muntok, Indonesia, also fell by $ 31, settling at $ 9,713/ton.

In Malaysia, Kuching ASTA black pepper maintained its price at $ 7,500/ton, while ASTA white pepper from the country held steady at $ 8,800/ton.

In Brazil, the price of ASTA 570 black pepper remained at $ 7,600/ton.

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

Thus, the global pepper price on 06/21/2024 slightly decreased in Indonesia compared to yesterday.

Pepper prices on June 21 domestically

Domestically, the pepper market on June 21 shows little fluctuation compared to yesterday.

Specifically, Dak Lak still purchases pepper at VND 160,000/kg;

Similarly, the pepper price in Dak Nong today maintains transactions at VND 160,000/kg;

The price of pepper in Gia Lai remains stable at VND 156,000/kg;

Currently, traders in Dong Nai purchase pepper at VND 156,000/kg;

An increase of VND 1,000 brings the pepper price in Ba Ria - Vung Tau to VND 157,000/kg;

Meanwhile, traders in Binh Phuoc are still trading pepper at VND 155,000/kg.

Domestic pepper prices today mainly remained stable, with only Ba Ria - Vung Tau seeing a slight increase of VND 1,000.

In the first 16 days of June 2024, Vietnam exported 16,211 tons of pepper. Of these, black pepper reached 14,347 tons, while white pepper reached 1,864 tons. The total export turnover reached $ 77.8 million.

It is projected that Vietnam will export 30,000 tons of pepper in June, bringing the total export volume for the first six months of 2024 to between 140,000 and 144,000 tons, the lowest production level in the past 5 years.

Official statistics on last season's pepper production from management agencies, associations, and businesses have not yet been released. However, with an estimated average of 170,000 tons, the amount of pepper available for export is expected to be limited until the end of the year.

Businesses have increased imports but not significantly, amid a global supply shortage due to low production in many countries.

According to experts, the area under pepper cultivation is shrinking as farmers switch to other crops. The global supply of pepper seeds is currently short by nearly 100,000 tons compared to demand. As a result of exporters' shortages, increased short-term purchases have pushed prices up sharply.

The current price surge partly stems from Chinese traders beginning to resume purchasing pepper after a long absence.

Thus, domestic pepper prices on 06/21/2024, are trading around VND 155,000 - 160,000/kg.

$ 1 = VND 25.218 - Source: Vietcombank