Unexpected sharp drop across the board.

Updated pepper prices today, November 21, 2024: Domestic prices unexpectedly dropped sharply, with Gia Lai and Ba Ria - Vung Tau seeing a drop of 1,000 VND/kg.

Domestic pepper prices today

Today, November 21, 2024, domestic pepper prices unexpectedly dropped sharply. In Gia Lai and Ba Ria - Vung Tau provinces, prices decreased by 1,000 VND/kg compared to yesterday, November 20, 2024; Dak Lak , Binh Phuoc, and Dak Nong provinces all saw a decrease of 500 VND/kg compared to yesterday.

Specifically, in Gia Lai province, the purchase price is 138,000 VND/kg, the same as in Ba Ria - Vung Tau. In Binh Phuoc, the price is 138,500 VND/kg, 500 VND/kg higher than Gia Lai and Ba Ria - Vung Tau. Dak Lak and Dak Nong provinces are at 139,500 VND/kg.

On average, the price of pepper today, November 21, 2024, ranges from 138,000 to 139,500 VND/kg, a decrease of 700 VND/kg compared to yesterday.

Meanwhile, yesterday, November 20, 2024, the domestic purchasing situation remained basically stable, with Dak Lak province experiencing a slight increase of 500 VND/kg compared to November 19, 2024, matching Dak Nong at 140,000 VND/kg; Gia Lai, Ba Ria - Vung Tau, and Binh Phuoc maintained a price of 139,000 VND/kg.

Today's world pepper prices

According to the International Pepper Association (IPC), the world pepper prices remained stable at the end of the most recent trading session. IPC listed Indonesian Lampung black pepper at US$6,470/ton; and Muntok white pepper at US$9,055/ton.

Brazilian ASTA 570 black pepper is priced at $6,000/ton. Malaysian ASTA black pepper is priced at $8,400/ton; the price of Malaysian ASTA white pepper is $10,500/ton.

Specifically, the price of Vietnamese black pepper remained stable at US$6,200/ton for the 500 g/l grade, and US$6,500/ton for the 550 g/l grade; the price of white pepper remained unchanged at US$9,400/ton.

India's pepper production is projected to reach around 60,000 tonnes in the 2023/2024 season, an increase of approximately 6% compared to the previous year. The country still faces a shortage as domestic demand is expected to exceed 66,000 tonnes.

VPSA stated that Vietnam remains the world's leading producer and exporter of pepper. However, amidst competition and market fluctuations favorable to other crops such as coffee and durian, the area and production of Vietnamese pepper are decreasing. The decline in supply, coupled with increased demand, has driven up pepper prices.