Pepper prices on 08/05/2024: reached a high of VND 147,000/kg

Pepper prices on August 5 globally

On the global market, the pepper market on August 5 remains stable.

The price of black pepper from Lampung in Indonesia is steady at $ 7,176/ton. The price of white pepper from Muntok in this country remains at $ 8,793/ton.

The price of black pepper Kuching ASTA from Malaysia is stable at $ 8,500/ton, while ASTA white pepper from the same country is priced at $ 10,400/ton.

For the Brazilian market, black pepper ASTA 570 is trading at $ 6,750/ton.

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

The global pepper market today remains stable. Over the past week, the pepper market has continued to show mixed movements. Specifically, pepper prices in India have been on the rise both domestically and internationally, after three consecutive weeks of decline.

Thus, the global pepper prices on 08/05/2024, show no new changes compared to the previous day.

Pepper prices on August 5 domestically

In the domestic market, the pepper prices on August 5 remain unchanged from yesterday.

In Dak Lak, pepper is being purchased at VND 147,000/kg.

The price of pepper in Dak Nong today remains at VND 147,000/kg.

In Gia Lai, pepper is still trading at VND 146,000/kg.

Traders in Dong Nai continue to buy pepper at VND 147,000/kg.

Similarly, the price of pepper in Ba Ria - Vung Tau today is steady at VND 147,000/kg.

In Binh Phuoc, pepper is still being traded at VND 147,000/kg.

Domestic pepper prices today remain unchanged, with the highest level reaching VND 147,000/kg. Over the past week, the domestic pepper market has continued to decline, with a loss of an additional VND 3,000/kg.

According to VPSA, Vietnam's pepper exports for the first half of 2024 reached 142,500 tons. Given the 2024 harvest production of approximately 170,000 tons, the remaining stock is estimated at about 28,000 tons. This figure aligns with the association’s previous forecast for the recent harvest.

Stock from the 2023 harvest combined with imports in 2024, estimated at around 40,000-45,000 tons (including unofficial imports), suggests that the export supply of pepper from August through the end of the year will be lower than in previous years, extending until the expected 2025 harvest in March.

The forecast indicates that pepper prices may experience unusual fluctuations, similar to the scenario on June 11, where prices sharply increased by VND 20,00/kg in the morning but dropped significantly in the afternoon.

Production of pepper in other countries, including Brazil and Indonesia, is expected to decline this year, impacting the supply for the later months of 2024.

VPSA also notes that in 2024, China's economic growth is slower than expected, and tighter consumer spending, along with adequate existing stocks, is a key reason for the country’s continued restriction on purchases from Vietnam.

Additionally, China has increased pepper imports from other countries, such as Indonesia, which saw a 46.4% increase (997 tons) in the first five months of 2024 compared to the same period last year.

Thus, on 08/05/2024, domestic pepper prices are trading around VND 146,000 - 147,000/kg.

$ 1 = VND 24.930 - Source: Vietcombank.