Pepper prices on 10/05/2024: Continue to decline

Pepper prices on October 5 globally

Globally, pepper prices on October 5 continued to decline in Indonesia.

Specifically, the price of black pepper from Lampung, Indonesia, decreased by 0.65% to $ 6,782/ton, while white pepper from Muntok dropped by 0.66%, reaching $ 9,068/ton.

The price of Kuching ASTA black pepper in Malaysia stood at $ 8,900/ton, while ASTA white pepper was priced at $ 11,200/ton.

In Brazil, black pepper ASTA 570 traded at $ 6,850/ton.

In Vietnam, the export price of black pepper 500 g/l was at $ 6,800/ton, while the 550 g/l variety was at $ 7,100/ton. White pepper for export remained at $ 10,150/ton.

Global pepper prices today continued to decline in Indonesia but remained stable in other markets.

Mr. Chang Foong Hin, Deputy Minister of Plantation Industries and Commodities of Malaysia, stated that Japan currently accounts for nearly 50% of Malaysia's pepper exports.

"Japan is our traditional market because Malaysian pepper has a distinctive spiciness compared to other countries. Besides Japan, other major export markets include China, South Korea, and Sweden," Mr. Chang Foong Hin shared.

He also mentioned that the trade value of pepper with Singapore is promising, having risen to 8.2 million RM (equivalent to 368.1 tons) in the first seven months of this year compared to 5.86 million RM (288.44 tons) during the same period last year.

The pepper cultivation area in Malaysia has increased to 8,215 hectares in 2024, up from 8,172 hectares last year, while the number of farmers has also increased from 38,986 to 39,137.

Thus, global pepper prices on 10/05/2024, saw a slight decline in Indonesia compared to yesterday.

Pepper prices on October 5 domestically

In the domestic market, pepper prices on October 5 decreased by VND 1,000 compared to yesterday.

Specifically, Dak Lak purchased pepper at VND 147,000/kg;

Pepper in Dak Nong dropped to VND 146,000/kg;

in Gia Lai, pepper was traded at VND 147,000/kg;

Traders in Dong Nai bought pepper at VND 147,000/kg;

In Ba Ria - Vung Tau, pepper was priced at VND 147,000/kg;

In Binh Phuoc, pepper was traded at VND 147,000/kg.

Domestic pepper prices today continued to decline, bringing this agricultural product down to the level of VND 147,000/kg.

Thus, domestic pepper prices on 10/05/2024, are trading around VND 146,000 - 147,000/kg.

$ 1 = VND 24.550 - Source: Vietcombank.