All prices have slowed down after a week of strong increases of up to 10,000 VND/kg.

Domestic pepper price today

Pepper prices today, July 1, 2024, in the Southeast region, simultaneously stagnated in some localities, trading around 154,800 VND/kg, the highest purchase price in Dak Nong province was 157,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 155,000 VND/kg, unchanged from yesterday's price. Chu Se pepper price (Gia Lai) is currently at 153,000 VND/kg, unchanged from yesterday's price. Dak Nong pepper price today is still recorded at 157,000 VND/kg.

Giá tiêu hôm nay 1/7/2024: Đồng loạt chững lại sau tuần tăng mạnh tới 10.000 đồng/kg

Pepper price today 7/1/2024: All prices stagnated

In the Southeast region, pepper prices today are the same. Specifically, in Ba Ria - Vung Tau, pepper prices remain stable at 154,000 VND/kg; in Binh Phuoc, pepper prices remain at 155,000 VND/kg.

Domestic pepper prices today are stable, trading at 154,800 VND/kg. Thus, domestic pepper prices today maintain a sideways trend in some key localities compared to yesterday. In all localities, pepper prices are at 153,000 VND/kg or higher. The highest pepper price was recorded at 157,000 VND/kg.

Last week, domestic pepper prices decreased by an average of VND4,000 - 5,000/kg. In June 2024, pepper prices increased by an average of VND23,000 - 27,000/kg. Although the market had two sharp price adjustments during the month, it still ended the second quarter with prices exceeding farmers' expectations.

Previously, in May 2024, domestic pepper prices increased sharply, by an average of VND 33,000/kg. In April 2024, domestic pepper prices increased by VND 5,000/kg.

According to the Vietnam Pepper and Spice Association (VPSA), pepper prices in the short term may have sharp downward adjustments, but they will not be too deep, it is unlikely to return to the low price level as before and the market has formed a new price level.

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 7,106 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,300 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,048 USD/ton; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 6,500 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,500 USD/ton.

This month, global pepper supply still depends on the volume of goods from Vietnam while the harvest in other countries has not yet begun. This helps Vietnamese pepper prices maintain a good upward momentum every month of the second quarter of 2024.

In addition, the tension in sea freight rates continues to be embedded in the prices of goods in general, including pepper. In addition, speculative activities have pushed prices up recently.

Exporters commented that the situation of shipping to Vietnam's key export markets is very tense. The most serious is the route to Europe, where freight is both expensive and there is no space. Currently, freight rates are 60%-70% higher than at the beginning of the year.

Many containers are stuck at the port and cannot move. This congestion is partly due to ships heading to China to concentrate on exporting goods to the US before August 1, to avoid being imposed anti-dumping duties by the US. This has led to congestion at Singapore and Chinese ports, causing many places to lack ships, pushing up freight rates. Conflicts in the Red Sea are also a cause.

High freight rates have pushed up Vietnam’s pepper export prices this month. Although the export volume has decreased compared to the same period last year, the value has increased sharply, making it likely that the pepper industry will achieve its billion-dollar export target this year.

Domestic pepper price on July 1 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	153,000	-
Dak Lak	VND/kg	155,000	-
Dak Nong	VND/kg	157,000	-
Binh Phuoc	VND/kg	155,000	-
Ba Ria - Vung Tau	VND/kg	154,000	-