The upward trend continues, Dak Lak and Dak Nong surpass the 150,000 VND/kg mark

Domestic pepper price today

Pepper price today, July 7, 2024, in the Southeast region increased from 1,000 - 3,000 VND/kg in some localities, trading around 150,000 - 151,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 151,000 VND/kg.

Specifically, Dak Lak pepper price is purchased at 151,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday's price. Chu Se pepper price (Gia Lai) is currently at 150,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. Dak Nong pepper price today is recorded at 151,000 VND/kg, an increase of 2,000 VND/kg.

Pepper price today July 7, 2024: The upward trend continues, Dak Lak and Dak Nong exceed 150,000 VND/kg

In the Southeast region, pepper prices today increased by 2,000-3,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it increased by 2,000 VND to 150,000 VND/kg; in Binh Phuoc, it increased by 3,000 VND/kg, pepper prices were at 150,000 VND/kg.

Domestic pepper prices today continued to increase by 1,000 - 3,000 VND/kg, trading at 150,000 - 151,000 VND/kg. Thus, domestic pepper prices today increased in some key localities compared to yesterday. In all localities, pepper prices are at 150,000 VND/kg or higher. The highest pepper price was recorded at 151,000 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 7,142 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,250 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,093 USD/ton; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam black pepper price is traded at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton.

Domestic pepper price on July 7 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	150,000	+2,000
­­ Dak Lak	VND/kg	151,000	+1,000
Dak Nong	VND/kg	151,000	+2,000
Binh Phuoc	VND/kg	150,000	+3,000
Ba Ria - Vung Tau	VND/kg	150,000	+2,000

According to experts, the domestic pepper market is increasingly unpredictable, because it is influenced by many factors, especially speculative factors.

The Import-Export Department (Ministry of Industry and Trade) forecasts that pepper prices will continue to increase in the coming time, but the rate of increase will slow down. Currently, pepper supply is in short supply while demand has recovered strongly from major markets such as Europe, the US and China. Pepper output this year in Vietnam and many major producing countries is forecast to decrease, due to the impact of the El Nino phenomenon and the reduction in cultivated area.

According to preliminary statistics of the Vietnam Pepper and Spice Association (VPSA), in June 2024, Vietnam exported 28,162 tons of pepper of all kinds, black pepper reached 24,988 tons, white pepper reached 3,174 tons. Total export turnover reached 141.1 million USD, black pepper reached 122.2 million USD, white pepper reached 18.9 million USD, compared to the previous month, the export volume decreased by 10.2%, but the turnover increased slightly by 0.1%.

The average export price of black pepper in June reached 5,067 USD/ton, white pepper reached 6,922 USD/ton, up 11.5% for black pepper and 13.4% for white pepper compared to the previous month. Pepper exports to the United States continued to account for the largest proportion in June, reaching 6,969 tons, down 9.4% compared to May. Next were the UAE markets with 2,749 tons, China with 2,582 tons, Germany with 1,994 tons, India with 1,240 tons, etc.

By the end of June 2024, Vietnam had exported 142,586 tons of pepper of all kinds, of which black pepper reached 125,959 tons and white pepper reached 16,627 tons. Total export turnover reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper reached 94.3 million USD. Compared to the same period last year, the export volume decreased by 6.8% but the export turnover increased by 30.5%.

The average export price of black pepper in the first 6 months reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD for black pepper and 1,028 USD for white pepper compared to the same period in the first 6 months of 2023.

Currently, Vietnam ranks third in the world in spice exports and first in pepper production and export. The spice market is assessed to have high demand globally. This is an opportunity for Vietnamese enterprises but also poses the problem of improving quality, focusing on preliminary processing and processing to meet international market demand.

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

Source: https://congthuong.vn/gia-tieu-hom-nay-772024-da-tang-van-dien-ra-dak-lak-dak-nong-vuot-moc-150000-dongkg-330525.html