Pepper prices on 07/08/2024: Significant decline last week

Pepper prices on July 8 globally

Globally, the pepper market on July 8 has shown no new movements.

Specifically, the price of black pepper from Lampung, Indonesia remains at $ 7,142/ton. Meanwhile, the price of white pepper from Muntok, Indonesia stands at $ 9,093/ton.

In Malaysia, the price of Kuching ASTA black pepper is $ 7,500/ton, and ASTA white pepper is priced at $ 8,800/ton.

In Brazil, the price of ASTA 570 black pepper continues to be at $ 7,250/ton.

In Vietnam, the export price of 500 g/l black pepper is trading at $ 6,000/ton, while the 550 g/l type is at $ 6,600/ton. The export price of white pepper remains at $ 8,800/ton.

Global black pepper prices today remained stable. Throughout the past week, prices in both India and Indonesia have maintained stability.

Therefore, on 07/08/2024, global pepper prices are stable compared to yesterday.

Pepper prices on July 8 domestically

In the domestic market on July 8, black pepper prices remained unchanged from yesterday.

In Dak Lak, black pepper is still being purchased at VND 151,000/kg.

In Dak Nong, black pepper is trading at VND 151,000/kg.

Gia Lai province continues to buy black pepper at VND 150,000/kg.

Traders in Dong Nai are also trading black pepper at VND 150,000/kg.

In Ba Ria - Vung Tau, black pepper remains stable at VND 150,000/kg.

Meanwhile, traders in Binh Phuoc are dealing black pepper at VND 150,000/kg.

The domestic pepper price today shows no new changes, with the highest reaching VND 151,000/kg. Last week, the local pepper market saw a sharp decline ranging from VND 3,000 - 6,000.

According to VSPA, in the first six months of 2024, Vietnam imported 18,002 tons of various types of pepper, including 16,357 tons of black pepper and 1,645 tons of white pepper. The total import value reached $ 69.6 million, marking an 18.9% increase compared to the same period last year. The three main countries supplying pepper to Vietnam include Brazil with 7,241 tons (down 22.3%), Cambodia with 6,212 tons (up 34.5%), and Indonesia with 2,991 tons (up 67.3%).

In the context of declining domestic supply, domestic enterprises have had to increase pepper imports from other countries. Previously, Brazilian pepper prices were considered reasonable and were sought after by many countries for import. However, this year, with the overall market trend, Brazilian pepper prices have also increased rapidly. Harvest conditions for pepper in this country are also forecasted to be unfavourable.

Additionally, high transportation costs due to global political instability have posed challenges for importing pepper from Brazil. Given these circumstances, the sharp increase in pepper imports from Southeast Asian countries like Indonesia and Cambodia is understandable.

Experts believe that signs of supply shortages compared to demand will continue to support further increases in pepper prices this week, with expectations of reaching VND 160,000/kg.

Thus, the domestic pepper price on 07/08/2024 is trading around VND 150,000 - 151,000/kg.

$ 1 = VND 25.205 - Source: Vietcombank.