Pepper prices on 0813/2024: Continue the deep decline

Pepper prices on August 13 globally

Globally, the pepper market on August 13 is experiencing a downward trend today.

Accordingly, the price of Lampung black pepper in Indonesia has decreased by 0.3%, reaching $ 7,298/ton. The price of Muntok white pepper in Indonesia has dropped significantly by 4.4%, now at $ 8,500/ton.

The price of Kuching ASTA black pepper in Malaysia remains steady at $ 8,500/ton, while the ASTA white pepper from Malaysia is priced at $ 10,400/ton. In Brazil, ASTA 570 black pepper continues to trade at $ 6,100/ton.

In Vietnam, the export price for black pepper with a grade of 500 g/l is around $ 5,800/ton, and for the 550 g/l grade, it is $ 6,200/ton. The export price for white pepper remains at $ 8,500/ton.

World pepper prices today have decreased in Indonesia but remain stable in other countries. The latest report from Ptexim indicates that last week, pepper prices experienced significant fluctuations within a wide range.

After a drop, pepper prices quickly rebounded, with large trading volumes recorded at the end of the week.

The agency notes that demand has improved in various markets, especially in the US and the European Union. China has also started resuming purchases.

Thus, global pepper prices on 08/13/2024, have slightly decreased in Indonesia compared to yesterday.

Pepper prices on August 13 domestically

In the domestic market, pepper prices on August 13 have all dropped significantly compared to yesterday.

Specifically, in Dak Lak, the price has decreased by VND 4,000, with pepper being bought at VND 138,000/kg;

In Dak Nong, the price has fallen sharply by VND 4,500, reaching VND 137,500 VND/kg;

In Gia Lai, the price has dropped by VND 5,000, trading at VND 137,000/kg;

In Dong Nai, traders are buying pepper at VND 137,000/kg, down by VND 4,000;

In Ba Ria - Vung Tau, the price has decreased sharply by VND 4,500, reaching 137,000 VND/kg;

And in Binh Phuoc, pepper is trading at VND 137,000/kg, down by VND 4,000.

Domestic pepper prices today have decreased significantly by up to 5,000 VND/kg, bringing the price down to around 138,000 VND/kg.

On the morning of July 31, the Vietnam Pepper Association (VPSA) held a mid-year review meeting and outlined tasks for the remaining half of the year in Ho Chi Minh City.

At the meeting, Mr. Le Viet Anh, Secretary General of VPSA, predicted that pepper prices would experience unusual fluctuations, similar to the situation on June 11, when prices rose sharply by 20,000 VND/kg in the morning but fell significantly in the afternoon.

Mr. Viet Anh also noted that pepper is increasingly competing with durian and coffee. New planting areas are limited, with most being intercropped with coffee at a ratio of 6:2. The production for the next season might be comparable to or slightly higher than in 2024. The amount of pepper held by farmers is low, and while pest issues persist, they are not significant.

Thus, domestic pepper prices on 08/13/2024, are trading around VND 137,000 - 138,000/kg.

$ 1 = VND 24.920 - Source: Vietcombank.