Rebounding; Dak Nong, Dak Lak hit new highs

Domestic pepper price today

Pepper price today, July 26, 2024, in the Southeast region, increased slightly by 1,000 VND/kg compared to yesterday, trading around 149,000 - 150,000 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 150,000 VND/kg.

Specifically, Dak Lak pepper price increased slightly by 1,000 VND/kg and was purchased at 150,000 VND/kg. Chu Se pepper price (Gia Lai) was purchased at 149,000 VND/kg, unchanged from yesterday. Dak Nong pepper price today was recorded at 150,000 VND/kg, unchanged from yesterday.

Pepper price today July 26, 2024: Bounce back; Dak Nong, Dak Lak reach highest level

In the Southeast region, pepper prices today increased slightly by VND 1,000/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at VND 149,000/kg, a slight increase of VND 1,000/kg compared to yesterday; in Binh Phuoc, pepper prices today remain at VND 149,000/kg, a slight increase compared to yesterday.

Thus, pepper prices today tended to increase slightly in some localities in key growing areas right after the price reduction day, recording the highest price of 150,000 VND, fluctuating in the price range of 149,000 - 150,000 VND/kg.

According to the General Department of Customs, with an increase from 3,686 USD/ton to 5,727 USD/ton, pepper is the item with the highest increase in export price among agricultural products in the first half of July 2024. Pepper export volume increased by 53% over the same period last year, reaching 10,796 tons, worth 61 million USD, up 137%.

In the first 6 months of 2024, the US was Vietnam's largest pepper export market with a volume of 37,435 tons, up 44.6% over the same period last year, accounting for 26.3% of the market share.

Next, the German market reached 9,526 tons, up 106.7%; UAE reached 8,388 tons, up 15.2%; India reached 8,173 tons, up 45.7%, China reached 7,453 tons, down 85.2% and the Netherlands reached 6,019 tons, up 52.1%. The leading white pepper export markets: Germany reached 2,454 tons, the US reached 2,044 tons, the Netherlands reached 1,779 tons, Thailand reached 1,732 tons and China reached 1,567 tons...

World pepper price today

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Indonesian Lampung black pepper at 7,161 USD/ton, down 0.26%; the price of Muntok white pepper at 9,118 USD/ton, down 0.27%.

The price of Brazilian ASTA 570 black pepper remained stable at USD 7,125/ton. The price of Malaysian ASTA black pepper also remained stable at USD 7,500/ton; the price of this country's ASTA white pepper reached USD 8,800/ton.

Vietnamese black pepper prices remain high at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; and 8,800 USD/ton for white pepper.

Domestic pepper price on July 26 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	149,000	–
­­ Dak Lak	VND/kg	150,000	+1,000
Dak Nong	VND/kg	150,000	–
Binh Phuoc	VND/kg	149,000	+1,000
Ba Ria - Vung Tau	VND/kg	149,000	+1,000

Some experts say 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.

Rapidly rising freight costs and port congestion in Asia are also impacting prices in import markets, and could cause shipping delays, leading to price increases in the medium to long term.

According to Mr. Hoang Phuoc Binh, Vice President of the Chu Se Pepper Association (Gia Lai), each price increase cycle usually lasts about 10 years, so not only this year, pepper prices will continue to stay high for many years to come.

Indonesia entered the pepper harvest season in July 2024, with high production expected in key growing areas. However, pepper prices may not be affected much due to hoarding by speculators who quickly bought up available supplies.

In China, pepper prices have increased sharply over the past month in Hainan, due to low production forecasts and domestic speculation. Since the beginning of the year, pepper exports from Vietnam to this market have decreased sharply. Figures show that China usually imports about 50,000 tons of pepper each year from Vietnam.

Low domestic production and speculation in China have forced the country to increase imports from Southeast Asian countries. This will be the driving force for growth in pepper exports from Vietnam and Indonesia at the end of this year.

Among the foreign pepper suppliers to China, Indonesia accounted for more than half with 1,375 tons, more than double the same period last year. This was the largest official pepper supplier to China in June and the first 6 months of the year.

*Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/gia-tieu-hom-nay-2672024-bat-tang-tro-lai-dak-nong-dak-lak-cham-moc-cao-nhat-334812.html