Pepper prices on 08/12/2024: highest at VND 142,000/kg

Pepper prices on August 12 globally

The global pepper market remained stable on 08/12/2024.

Accordingly, the price of Lampung black pepper in Indonesia stayed at around $ 7,320/ton, while the price of Muntok white pepper remained at $ 8,970/ton.

The price of Kuching ASTA black pepper in Malaysia held steady at $ 8,500/ton, and the price of ASTA white pepper in the country remained at $ 10,400/ton.

In Brazil, the price of ASTA 570 black pepper continued to trade at $ 6,100/ton.

In Vietnam, the export price of 500 g/l black pepper remained at $ 5,800/ton, while the 550 g/l black pepper was priced at $ 6,200/ton. The export price of white pepper stayed steady at $ 8,500/ton.

Global pepper prices remained unchanged today. Last week, the pepper market continued to show mixed reactions, with Malaysia's FOB pepper seeing the highest increase. Meanwhile, both domestic and international pepper prices in India have been on an upward trend since the previous week.

Thus, global pepper prices on 08/12/2024, have not seen any new fluctuations compared to yesterday.

Pepper prices on August 12 domestically

In Vietnam, the domestic pepper market remained stable compared to yesterday.

Specifically, Dak Lak continues to purchase pepper at VND 142,000/kg;

The price of pepper in Dak Nong today remains steady at VND 142,000/kg;

Pepper prices in Gia Lai remained unchanged, trading at VND 142,000/kg;

Traders in Dong Nai are still buying pepper at VND 141,000=/kg;

The price of pepper in Ba Ria - Vung Tau today remains at VND 141,500/kg;

Meanwhile, Binh Phuoc continues to trade pepper at VND 141,000/kg.

Domestic pepper prices today remain stable, with the highest price reaching VND 142,000/kg. However, over the past week, the domestic pepper market experienced a significant drop, losing up to VND 5,000.

According to the VPSA, the average domestic pepper price in July 2024 was VND 150,000/kg, an increase of 82.9% compared to January and a 120.6% increase compared to the same period in 2023. On average, black pepper prices in the first seven months of 2024 increased by 66.5% compared to 2023.

Meanwhile, the export price of black pepper in June 2024 reached $ 5,067/ton, a significant increase of 31.6% compared to $ 3,851/ton in January. The average export price for black pepper in the first six months of 2024 increased by 17.1% compared to the same period last year. The primary reason for this price increase in Quarter 2nd 2024 is the supply shortage due to reduced harvests in Vietnam and Brazil.

A survey conducted by VPSA at the beginning of July across three provinces in the Central Highlands revealed that pepper production is increasingly being challenged by the cultivation of durian and coffee. Although there have been reports of new pepper plantings, they are not significant, with most farmers intercropping pepper with coffee at a ratio of 6 - 2.

VPSA also predicts that the upcoming harvest may yield a production level similar to or slightly higher than in 2024. The stockpile held by farmers is dwindling, and while pest and disease issues persist, they are not severe. Farmers have managed to control some common diseases, such as yellow leaf disease, slow wilt, lace bugs, algae spots, and nematodes.

Thus, on 08/12/2024, domestic pepper prices are trading around VND 141,000 - 142,000/kg.

$ 1 = VND 24.910 - Source: Vietcombank.