Pepper prices on 08/17/2024: Decreased by an additional VND 2,500

Pepper prices on August 17 globally

Globally, the pepper market on August 17 saw a downward trend in Indonesia.

Specifically, the price of Lampung black pepper in Indonesia decreased slightly by 0.19% to $ 7,412/ton. Meanwhile, the price of Muntok white pepper in the country fell by 0.18% to $ 8,744/ton.

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

In Brazil, the price of ASTA 570 black pepper continued to trade at $ 6,175/ton.

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

Global pepper prices today saw a slight decrease in Indonesia but remained stable in other countries.

The IPC noted that the pepper market reacted in mixed ways this week. After showing an upward trend for the past two weeks, pepper prices in India, both domestic and international, stabilized this week. Only Indonesian black pepper continued its upward trend from last week.

According to the latest market report from the previous week (August 5 - 11, 2024), the IPC highlighted that the domestic and export prices of Indian and Sri Lankan pepper were stable over the last two weeks.

In Southeast Asia, when the Indonesian Rupiah appreciated by 1% against the USD (16,061 IDR/USD), domestic and international pepper prices in the country increased last week.

Both domestic and export pepper prices in Malaysia have been rising over the past two weeks, partially due to the Malaysian Ringgit strengthening by 3% against the USD (4.47 MYR/USD), and some farmers in the country have begun their harvest season.

After two weeks of stability, domestic and export pepper prices in Vietnam recorded a decline last week.

Brazilian black pepper prices have been declining since last week, while prices for Cambodian black pepper and Chinese white pepper remained stable and unchanged.

Meanwhile, the US pepper market saw a downward trend from producing countries.

Thus, global pepper prices on 08/17/2024 showed a slight decrease in Indonesia compared to yesterday.

Pepper prices on August 17 domestically

Domestically, the pepper market continued its downward trend compared to yesterday.

Specifically, in Dak Lak, prices dropped by an additional VND 2,000, bringing pepper purchases down to VND 137,000/kg;

In Dak Nong, pepper prices fell by VND 2,500, down to VND 136,500/kg;

Similarly, in Gia Lai, pepper prices were trading at VND 136,500/kg;

With a further decrease of VND 2,500, traders in Dong Nai were purchasing pepper at VND 136,000/kg;

Pepper prices in Ba Ria - Vung Tau dropped by VND 2,500, reaching VND 136,000/kg;

In Binh Phuoc, prices also fell by VND 2,500, with pepper trading at VND 136,000/kg.

Domestic pepper prices today continued their downward trend, decreasing by an additional VND 2,000 - 2,500. This has brought the purchase price of this commodity down to around VND 137,000/kg.

Thus, on 08/17/2024, domestic pepper prices are trading around VND 136,000 - 137,000/kg.

$ 1 = VND 24.860 - Source: Vietcombank.