Pepper prices on 10/04/2024: Decrease in some domestic areas

Pepper prices on October 4 globally

Globally, pepper prices on October 4 showed mixed movements.

In Indonesia, Lampung black pepper prices fell by 0.97%, reaching $ 6,826/ton. Meanwhile, Muntok white pepper prices from the same country dropped by 0.28%, settling at $ 9,216/ton.

In Malaysia, Kuching black pepper ASTA is priced at $ 8,900/ton, while white pepper ASTA is at $ 11,400/ton.

For Brazil, the price of black pepper ASTA 570 decreased by 0.75%, trading at $ 6,700/ton.

In Vietnam, the export price for black pepper (500 g/l) is trading at $ 6,800/ton, while the 550 g/l type is priced at $ 7,100/ton. The export price of white pepper is at $ 10,150/ton.

Today, global pepper prices are experiencing slight decreases in Indonesia but significant increases in black pepper from Brazil. Other markets remain stable.

Thus, on 10/04/2024, global pepper prices continue to decline in Indonesia compared to yesterday.

Pepper prices on October 4 domestically

In Vietnam, the domestic price of pepper on October 4 continues to drop compared to yesterday.

Specifically, in Dak Lak, prices decreased by VND 1,000, with purchasing prices at VND 148,000/kg.

The price of pepper in Dak Nong today decreased by VND 500, reaching VND 148,000/kg.

Similarly, the price of pepper in Gia Lai is currently trading at VND 147,000/kg.

Traders in Dong Nai are purchasing pepper at VND 148,000/kg, down by VND 1,000.

The price of pepper in Ba Ria - Vung Tau remains stable at VND 148,000/kg.

Lastly, traders in Binh Phuoc are trading pepper at VND 148,000/kg, a decrease of VND 1,000.

Today, the domestic price of pepper remains stable in Ba Ria Vung Tau but has decreased by an additional VND 500 - 1,000 in other key regions. This brings the price of this agricultural product back to VND 148,000/kg.

Since the beginning of the week, domestic pepper prices have fluctuated within a narrow range across most localities. Currently, the supply in the market is low, leading to a stagnation in buying and selling activities.

Forecasts indicate that the Vietnamese pepper industry will continue to benefit from high export prices due to reduced supply. According to the Vietnam Pepper Association (VPSA), the stock of pepper in the market is nearly exhausted, with only some remaining in agents' and companies' warehouses.

The inventory from the 2023 crop, combined with imports in 2024, is estimated to be around 40,000 - 45,000 tons (including unofficial imports), indicating that export supplies will be lower than in previous years until the 2025 harvest season, expected to begin in March 2025.

Experts predict that pepper has entered a new price increase cycle, expected to last 10-15 years, with the potential to reach VND 350 - 400 thousand/kg.

Thus, on 10/04/2024, the domestic pepper price is trading around VND 147,000 - 148,000/kg.

$ 1 = VND 24.550 - Source: Vietcombank.