Domestic pepper price today
Pepper price today, July 17, 2024, in the Southeast region, decreased sharply by 2,000 VND/kg in some localities, trading around 148,000 - 149,000 VND/kg, the highest purchase price in the provinces of Ba Ria - Vung Tau, Dak Nong, Dak Lak is 149,000 VND/kg.
Specifically, Dak Lak pepper price was purchased at 149,000 VND/kg, down 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) continued to stand at 148,000 VND/kg. Dak Nong pepper price today decreased 2,000 VND/kg to 149,000 VND/kg.
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| Pepper price today July 17, 2024: All prices plummeted, leaving the 150,000 VND/kg mark |
In the Southeast region, pepper prices today decreased by 2,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is still at 149,000 VND/kg; in Binh Phuoc, pepper prices today remain at 148,000 VND/kg.
Thus, pepper price today recorded a sharp decrease of 2,000 VND/kg, fluctuating in the price range of 148,000 - 149,000 VND/kg.
In the first 6 months of 2024, Vietnam exported 142,586 tons of pepper of all kinds, down 6.8% in volume but up 30.5% in value.
In terms of market, the US is currently 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 market share.
Followed by markets such as Germany with 9,526 tons (up 106.7%); UAE market reached 8,388 tons (up 15.2%); exports to India reached 8,173 tons (up 45.7%) and to the Netherlands market reached 6,019 tons (up 52.1%).
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 7,190 USD/ton (down 0.18%); the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton (down 0.34%); the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 9,154 USD/ton, down 0.19%; Malaysian ASTA white pepper price is at 8,800 USD/ton.
Vietnamese black pepper prices remain at a high level, trading 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. IPC maintains pepper prices in Indonesia, Brazil, and Vietnam.
Although pepper prices have decreased compared to their peak in mid-June 2024, they are still at a high level and can set new peaks depending on the time.
However, pepper prices can still cool down at any time, so businesses need to anticipate this possibility to adjust production and business activities effectively, avoid expanding acreage or signing contracts to buy and sell far away, which can easily lead to risks.
According to the Vietnam Pepper and Spices Association, the average export price of black pepper in the first 6 months of 2024 reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD and 1,028 USD respectively compared to the first 6 months of 2023.
The sharp increase in pepper prices in 2024 has created many opportunities as well as challenges for the Vietnamese pepper export industry. With high consumption demand from international markets and a decline in global production, the Vietnamese pepper industry needs to take advantage of this opportunity to have sustainable development strategies, closely coordinating between the state, associations, businesses and farmers.
The Vietnamese pepper industry needs to focus on improving product quality, diversifying export markets, applying science and technology to production and developing brands. This will not only bring great economic benefits but also affirm the position of Vietnamese agricultural products in the international market.
Domestic pepper price on July 17 , 2024
Province, city | Unit | Trader purchase price | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 148,000 | -2,000 |
Dak Lak | VND/kg | 149,000 | -2,000 |
Dak Nong | VND/kg | 149,000 | -2,000 |
Binh Phuoc | VND/kg | 148,000 | -2,000 |
Ba Ria - Vung Tau | VND/kg | 149,000 | -2,000 |
*Information for reference only. Prices may vary depending on time and location.
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