Pepper prices on 07/21/2024: Continuing to decline

Pepper prices on July 21 globally

On the global market, pepper prices on July 21 remained largely unchanged.

Accordingly, the price of Lampung black pepper in Indonesia decreased by an additional 0.25%, to $ 7,191/ton. The price of Muntok white pepper from this country also slightly decreased by 0.24%, to $ 9,157/ton.

The price of Kuching ASTA black pepper in Malaysia remained at $ 7,500/ton, while ASTA white pepper from this country is priced at $ 8,800/ton.

In the Brazilian market, the price of ASTA 570 black pepper remained steady at $ 7,125/ton.

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

Global pepper prices today remained largely stable. Summarizing this week, the global pepper market experienced mixed fluctuations.

In particular, both domestic and international pepper prices in India have been trending downward since last week. In Indonesia, domestic and international pepper prices have remained stable as most pepper processing plants have resumed operations. Other countries also saw slight declines.

Thus, global pepper prices on 07/21/2024, remained stable compared to yesterday.

Pepper prices on July 21 domestically

In the domestic market, pepper prices on July 21 continued to decline compared to yesterday.

Specifically, Dak Lak is purchasing pepper at VND 146,000/kg, down an additional VND 1,000;

Similarly, the price of pepper in Dak Nong today is at VND 146,000/kg;

The price of pepper in Gia Lai remains steady at VND 145,000/kg;

Traders in Dong Nai are still trading pepper at VND 145,000/kg;

The price of pepper in Ba Ria - Vung Tau today remains at VND 145,000/kg;

Traders in Binh Phuoc are trading pepper at VND 145,000/kg, unchanged.

Domestic pepper prices today fell by another VND 1,000 in Dak Lak and Dak Nong, bringing the price to VND 146,000/kg. Summarizing this week, the domestic pepper market has seen a significant decline, losing between VND 5,000 and 6,000.

As of the end of 2023, the total pepper cultivation area in Dak Nong reached 33,789 ha, with a production volume of 70,685 tons, an increase of 28,458 tons compared to 2018. Dak Nong ranks first in the Central Highlands and the entire country in terms of pepper cultivation area, and second in production volume (after Dak Lak province).

Dak Nong aims to maintain the pepper cultivation area at around 34,000 hectares by 2025, with a production volume of approximately 52,000 tons. By 2030, the area is expected to be around 33,600 ha, with a production volume of about 60,000 tons. The province plans to establish and develop four high-tech pepper production zones, with a concentrated production area of 3,049 ha in key pepper production areas.

Despite the high pepper prices, local authorities and farmers are very cautious about expanding the cultivation area. This caution is partly due to the fact that pepper is no longer as valuable as other crops. For a long time, pepper has not been considered "black gold."

The general direction of the industry is to produce clean pepper in a sustainable manner, applying high technology to improve product quality.

Thus, domestic pepper prices on 07/21/2024, are trading around VND 145,000 - 146,000/kg.

$ 1 = VND 25.128 - Source: Vietcombank