Pepper prices on 10/08/2024: Continue the trend of slight decline

Pepper prices on October 8 globally

On the global market, pepper prices decreased sharply in Indonesia on October 8.

Specifically, the price of black pepper from Lampung in Indonesia dropped by 1.19%, reaching $ 6,702/ton. The price of white pepper from Muntok in this country also fell by 1.19%, currently at $ 8,961/ton.

The price of black pepper Kuching ASTA from Malaysia stands at $ 8,900/ton, while the white pepper ASTA from Malaysia is priced at $ 11,200/ton.

In Brazil, the price for ASTA 570 black pepper is trading at $ 6,850/ton.

In Vietnam, the export price for black pepper of 500 g/l is around $ 6,800/ton, while that for 550 g/l is $ 7,100/ton. The export price for white pepper is currently at $ 10,150/ton.

Global pepper prices today decreased sharply in Indonesia but remained stable in other countries.

According to the IPC, from 2014 to 2023, the area cultivated with pepper in Cambodia has shown a significant increasing trend. By 2023, the cultivated area for this crop had increased by 3,025 hectares compared to 2014. The area planted with pepper in 2024 is estimated to remain stable, at 5,725 hectares.

Cambodia's pepper production has increased since 2014, recording a substantial rise of 153% over the past decade, reaching 19,000 tons in 2023. This increase in production is attributed to improved area and yield, as well as enhancements in quality and certification of pepper by the Cambodian government and CPSF.

Cambodia's pepper production in 2023 is estimated to increase by 6% compared to 2022, with expectations for stability in 2024.

As a global pepper-producing country, Cambodia maintains an average export volume of about 2,862 tons annually from 2014 to 2023. As of July 2024, Cambodia's pepper exports reached 6,422 tons, a sharp increase of 172% compared to the same period in 2023.

As of September 2024, the average FOB price for Cambodian black pepper of 500 g/l is $ 2,780/ton, stable compared to January. The average FOB price for Cambodian black pepper of 550 g/l is $ 4,808/ton, a significant increase of 101% compared to January.

Thus, on 10/08/2024, global pepper prices have turned downward in Indonesia compared to yesterday.

Pepper prices on October 8 globally

In the domestic market, pepper prices on October 8 continued to decline compared to yesterday.

Specifically, in Dak Lak, the purchasing price for pepper is VND 147,000/kg, down by VND 500.

In Dak Nong, the price also decreased by VND 500, reaching VND 147,000/kg.

Similarly, the price in Gia Lai has dropped to VND 146,000/kg.

In Dong Nai, traders continue to purchase pepper at VND 146,000/kg.

The price of pepper in Ba Ria - Vung Tau today has decreased by VND 500, now at VND 146,500/kg.

Meanwhile, traders in Binh Phuoc are still buying pepper at VND 147,000/kg.

Domestic pepper prices today decreased slightly by VND 500 in Dak Lak, Dak Nong, and Ba Ria Ria-Vung. Meanwhile, other key regions maintained the same pepper prices as yesterday.

Thus, domestic pepper prices on 10/08/2024, are trading around VND 146,000 - 147,000/kg.

$ 1 = VND 24.635 - Source: Vietcombank.