Rebounding, Dak Lak and Dak Nong hit peak of 147,500 VND/kg

Domestic pepper price today

Pepper price today, July 22, 2024, in the Southeast region, increased by 1,000 - 1,500 VND/kg in some localities, trading around 146,000 - 147,500 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 147,500 VND/kg.

Specifically, Dak Lak pepper price was purchased at 147,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 146,000 VND/kg. Dak Nong pepper price today was recorded at 147,500 VND/kg.

In the Southeast region, pepper prices today increased by 1,000 - 1,500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is still at 146,000 VND/kg; in Binh Phuoc, pepper prices today decreased to 146,500 VND/kg.

Thus, pepper prices today recorded a slight increase in some localities, recording the highest price of 147,500 VND, fluctuating in the price range of 146,000 - 147,500 VND/kg.

Pepper price today July 22, 2024: Rebounding, Dak Lak, Dak Nong reached peak of 147,500 VND/kg

Currently, pepper prices are in a state of “fluctuation”, meaning that they go up and down, but in general, they are on an upward trend. According to Mr. Hoang Phuoc Binh – Vice President of the Chu Se Pepper Association (Gia Lai), not only this year, pepper prices will continue to be high for many years to come, because each price increase cycle usually lasts about 10 years.

World pepper price today

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,191 USD/ton, down 0.25%; the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,157 USD/ton, down 0.24%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnamese black pepper prices remain high at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; white pepper prices at 8,800 USD/ton. According to the International Pepper Association (IPC), pepper prices in Brazil and Vietnam remain unchanged. Indonesian black pepper prices decreased compared to yesterday.

By the end of 2023, the pepper growing area of Dak Nong province will reach 33,789 hectares, with an output of 70,685 tons, an increase of 28,458 tons compared to 2018. Currently, Dak Nong ranks first in the Central Highlands and the whole country in terms of pepper growing area, and second in output in the whole country (after Dak Lak province).

Dak Nong will maintain the pepper growing area by 2025 at about 34 thousand hectares, with an output of about 52 thousand tons, and by 2030 the area will reach about 33.6 thousand hectares, with an output of about 60 thousand tons; forming and developing 4 pepper production areas applying high technology, concentrated production areas with an area of 3,049 hectares in key pepper production areas of the province.

Although pepper prices are high, localities and even people are very cautious in expanding pepper growing areas. Part of the reason is that the value of pepper is no longer as high as other crops. Pepper has long been considered “black gold”.

In the Southeast, Dong Nai is one of the largest pepper growing provinces with about 11,000 hectares. In 2018, the pepper area of Dong Nai province reached 19,000 hectares. Many years of low pepper prices caused the province to lose 8,000 hectares of pepper to switch to higher value crops. This year, although the price has doubled, people are still hesitant to expand the area.

The general orientation of the industry is to produce clean pepper in a sustainable manner, applying high technology and improving product quality.

Brazil's pepper exports hit a record high of 92,065 tonnes in 2021, but then fell to 86,359 tonnes in 2022 and 80,725 tonnes in 2023.

Reduced output from Brazil and Vietnam, the world's two leading pepper producing countries, has pushed world pepper prices up continuously in recent times.

Some experts believe that signs of supply shortage compared to demand will continue to be recorded and reflected in the market in the coming time until the crop season.

Meanwhile, rapidly rising freight costs and port congestion in Asia are also impacting prices in import markets, potentially causing shipping delays. This could lead to price increases in the medium to long term.

Domestic pepper price on July 22 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	147,000	+1,000
Dak Lak	VND/kg	147,500	+1,500
Dak Nong	VND/kg	147,500	+1,500
Binh Phuoc	VND/kg	146,000	+1,000
Ba Ria - Vung Tau	VND/kg	146,000	+1,000