Pepper prices on 08/14/2024: Slight increase

Pepper prices on August 14 globally

Globally, the pepper market on August 14 is gradually recovering.

The price of Lampung black pepper in Indonesia slightly increased by 0.49%, reaching $ 7,334/ton. The price of Muntok white pepper from this country also rose by 0.5%, reaching $ 8,635/ton.

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

In Brazil, the price of ASTA 570 black pepper saw a significant increase of 1.21%, reaching $ 6,175/ton.

In Vietnam, the export price of 500 g/l black pepper is trading at $ 5,800/ton, while the 550 g/l black pepper is at $ 6,200/ton. The export price of white pepper remains steady at $ 8,500/ton.

Global pepper prices today saw a slight increase in Indonesia and a more significant rise in Brazil, while prices in other countries remained stable.

Thus, global pepper prices on 08/14/2024, slightly increased in Indonesia compared to yesterday.

Pepper prices on August 14 domestically

In Vietnam, the domestic pepper market on August 14 rebounded compared to yesterday.

Specifically, Dak Lak saw a slight increase of VND 500 VND, with pepper being purchased at VND 138,500/kg;

In Dak Nong, pepper prices rose by VND 1,000, reaching VND 138,500/kg;

Pepper prices in Gia Lai also increased by VND 1,000 VND, trading at VND 138,000/kg;

Similarly, traders in Dong Nai are purchasing pepper at VND 138,000/kg;

Pepper prices in Ba Ria - Vung Tau also rose, reaching VND 138,000/kg;

Meanwhile, in Binh Phuoc, pepper is being traded at VND 137,500/kg, a slight increase of VND 500.

Domestic pepper prices today saw a slight increase of VND 500 to VND 1,000 after a sharp decline the previous day. However, this increase only managed to keep the price of this agricultural product at around VND 138,000/kg.

In the second quarter of 2024, black pepper prices in the domestic market continuously rose, reaching new record highs. As a result, domestic pepper prices have increased by about 93% compared to the beginning of the year and 2.3 times higher than the same period last year.

The upward trend continued in July 2024 due to rising demand and limited supply.

According to the Vietnam Pepper Association (VPA), the increase in domestic pepper prices has not met expectations due to low demand from the Chinese market. Currently, pepper prices in the Chinese market are lower than those in Vietnam, which may be the main reason for the limited imports of pepper from Vietnam.

Thus, domestic pepper prices on 08/14/2024, are trading around VND 137,500 to VND 138,500/kg.

$ 1 = VND 24.850 - Source: Vietcombank.