Pepper prices on 07/12/2024: Increase in Dak Lak and Dak Nong

Pepper prices on July 12 globally

In the global market on July 12, the black pepper market continued to rise in Indonesia. The price of black pepper (Lampung) in Indonesia increased by 0.35% to reach $ 7,191/ton. Similarly, the price of white pepper (Muntok) from the same country also rose by 0.35% to $ 9,156/ton.

In Malaysia, black pepper (Kuching ASTA) is holding steady at $ 7,500/ton, while white pepper (ASTA) is priced at $ 8,800/ton.

In Brazil, the price of black pepper (ASTA 570) remains unchanged at $ 7,150/ton.

In Vietnam, the export prices for black pepper are $ 6,000/ton for the 500 g/l grade and $ 6,600/ton for the 550 g/l grade. The export price for white pepper remains stable at $ 8,800/ton.

The global black pepper prices today mostly trended sideways, with slight increases observed only in Indonesia.

NedSpice reported that high temperatures and drought in pepper-growing regions of Brazil are causing crop damage, reducing estimated production by around 10%.

In Indonesia, the scale of black pepper cultivation has been decreasing over the past 5 years as farmers switch to more profitable crops like palm oil. Although current pepper prices may encourage new planting, a short-term recovery is not anticipated.

Other countries such as India, Sri Lanka, Malaysia, and Cambodia have maintained relatively stable production levels in recent years, with no significant impact on the overall global supply.

Rapidly rising shipping costs and port congestion in Asia are affecting import market prices and could lead to shipping delays, further contributing to potential long-term increases in black pepper prices.

Thus, on 07/12/2024, global black pepper prices were slightly up in Indonesia compared to yesterday.

Pepper prices on July 12 domestically

In domestic markets, black pepper prices on July 12 showed slight increases in several regions compared to yesterday.

In Dak Lak, prices increased by VND 1,000/kg, reaching VND 154,000/kg.

Similarly, in Dak Nong, prices rose to VND 154,000/kg.

Prices in Gia Lai are at 153,000 VND/kg.

Traders in Dong Nai are transacting black pepper at VND 153,000/kg.

Ba Ria - Vung Tau market prices are stable at VND 153,000/kg.

In Binh Phuoc, traders continue to transact at VND 153,000/kg.

Today, black pepper prices domestically have risen again in Dak Lak and Dak Nong, while remaining stable in other key regions.

According to VSPA, as of the end of June 2024, Vietnam exported 142,586 tons of various types of black pepper, a decrease of 6.8% in volume but an increase of 30.5% in value. Specifically, black pepper exports reached 125,959 tons, and white pepper reached 16,627 tons. The total export revenue amounted to $ 634.2 million, with $ 539.9 million from black pepper and $ 94.3 million from white pepper.

In the first half of 2024, the United States was the largest export market for Vietnam with 37,435 tons, a 44.6% increase compared to the same period last year, capturing 26.3% market share. Following the US were markets like Germany with 9,526 tons (up 106.7%), UAE with 8,388 tons (up 15.2%), India with 8,173 tons (up 45.7%),...

Additionally, Vietnam imported 18,002 tons of various types of black pepper, including 16,357 tons of black pepper and 1,645 tons of white pepper. The total import value reached $ 69.6 million, an 18.9% increase compared to the same period last year.

The three main countries supplying pepper to Vietnam were 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%).

Thus, domestic black pepper prices on 07/12/2024, are trading around VND 153,000 - 154,000/kg.

$ 1 = VND 25.210 - Source: Vietcombank.