Pepper prices on 07/27/2024: Ba Ria Vung Tau increases slightly

Pepper prices on July 27 globally

Globally, the pepper market is experiencing a downward trend.

In Indonesia, the price of Lampung black pepper decreased by 0.15%, settling at $ 7,150/ton. The price of Muntok white pepper in the country dropped by 0.16%, reaching $ 9,103/ton.

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

In Brazil, the price of ASTA 570 black pepper fell significantly by 2.52%, down to $ 6,950/ton.

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

Today, global pepper prices have seen a slight decrease in Indonesia and a significant drop in black pepper from Brazil. Meanwhile, prices in other countries remain stable.

The IPC notes that the pepper market this week is showing mixed reactions. Both domestic and international prices for Indian pepper have been decreasing over the past three weeks. Prices for Indonesian pepper, both domestic and international, are stable. Only domestic prices for Malaysian pepper continue to rise.

Thus, on 07/27/2024, global pepper prices decreased in Indonesia and Brazil compared to yesterday.

Pepper prices on 07/27/2024 domestically

Domestically, the pepper market on July 27 was mostly stable compared to yesterday.

Specifically, in Dak Lak, pepper is still being bought at VND 150,000/kg.

Prices in Dak Nong remain at VND 150,000/kg.

In Gia Lai, pepper continues to trade at VND 149,000/kg.

Traders in Dong Nai are buying pepper at VND 150,000/kg.

In Ba Ria - Vung Tau, the price has increased by VND 1,000 to VND 150,000/kg. In Binh Phuoc, pepper is being traded at VND 149,000/kg.

Today, domestic pepper prices have increased by VND 1,000/kg only in Ba Ria - Vung Tau, with other major regions remaining unchanged. Currently, pepper is trading at around VND 150,000/kg.

According to data from the General Department of Customs, in the first half of the year, Vietnam exported a total of 141,392 tons of pepper, earning $ 629.9 million; a 7.4% decrease in volume but a more than 30% increase in value compared to the same period in 2023.

India is the fourth-largest market for Vietnamese pepper, with a volume of 6,813 tons worth $ 28 million; a significant increase of 46.5% in volume and 90.6% in value.

According to the Ministry of Commerce of India, by the end of May, the country’s total pepper imports reached 12,482 tons, an increase of nearly 11% compared to the same period last year.

Notably, Vietnam is the largest supplier of pepper to India in the first five months of the year, with a volume of 5,220 tons, up 42.5% from the same period last year. This result has expanded Vietnam's market share in India from 32.5% to 41.8%.

The average export price of Vietnamese pepper to India in the first five months increased by 29.7% to $ 4,371/ton, higher than Brazil's $ 3,414/ton and Indonesia's 3,141 USD/ton, but lower than Sri Lanka's $ 6,190/ton.

Thus, on 07/27/2024, domestic pepper prices are trading around VND 149,000 - 150,000/kg.