The downward trend continues, Southeast down to 145,000 VND/kg

Domestic pepper price today

Pepper price today, June 26, 2024, in the Southeast region continued to decrease by another 1,000 VND/kg in some localities, trading around 145,000 VND/kg, the highest purchase price in Dak Lak province was 146,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 146,000 VND/kg. Chu Se pepper price (Gia Lai) is currently at 145,000 VND/kg. Dak Nong pepper price today is recorded at 145,000 VND/kg.

Pepper price today June 26, 2024: The downward trend continues, Southeast down to 145,000 VND/kg

In the Southeast region, pepper prices today decreased by 1,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it decreased to 145,000 VND/kg; in Binh Phuoc, pepper prices reached 145,000 VND/kg.

Domestic pepper prices continued to decrease today, trading at 145,000 VND/kg. Thus, domestic pepper prices today decreased in some key localities compared to yesterday. In all localities, pepper prices are at 145,000 VND/kg or higher. The highest pepper price was recorded at 146,000 VND/kg.

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 7,112 USD/ton, up 0.31%; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton, up 300 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,056 USD/ton, up 0.32%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 5,700 USD/ton for 500 g/l, down 3.51%; 550 g/l is at 6,300 USD/ton, down 9.52%; white pepper price is at 5,800 USD/ton, down 8.62%. IPC sharply increased pepper prices in Indonesia and Brazil, sharply reducing Vietnam's pepper export prices.

Experts say that when the price reached 180,000 VND/kg, buyers were almost on the sidelines. Therefore, adjusting the price down is reasonable at this time. However, what is the floor price for this reduction, and how many more adjustments are there?

Currently, most opinions of experts, businesses, and the Vietnam Pepper and Spice Association all agree that the price will increase in the medium and long term.

PTEXIM Corp – a business with more than 20 years of experience exporting pepper from Vietnam, assessed that the inventory level of intermediary traders is at its lowest level in many years.

Some dealers have faced shortages when they sold out and could not buy back when the market increased rapidly. Some dealers who had bought farmers' goods have now turned around to "squeeze" prices.

The market suddenly turned sharply down after a series of stable days. Experts said that the above prices are a summary of the listed buying and selling prices of agents and import-export companies. In fact, with the current price reduction, the volume of transactions on the market is not much.

This year, with low reserves, most farmers are holding on to their goods, in a context where they are not under financial pressure like in previous years. The sharp decline earlier this week may have been due to speculative factors from market participants. Agents who held on to farmers’ goods are now turning to squeeze prices.

In addition, domestic pepper prices are falling due to the world market plummeting. In the last two consecutive trading sessions, Vietnam's pepper export prices have fallen sharply. Before the Muslim holiday of Eid al-Adha, the market increased sharply due to high purchasing volume. Immediately after the holiday, the market returned to normal, causing prices to fall sharply.

Domestic pepper price on June 26 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	145,000	–
Dak Lak	VND/kg	146,000-	–
Dak Nong	VND/kg	145,000	–
Binh Phuoc	VND/kg	145,000	– 1,000
Ba Ria - Vung Tau	VND/kg	145,000	– 1,000