Domestic pepper price today
Pepper price today, June 22, 2024, in the Southeast region increased slightly by 1,000 VND/kg in some localities, trading around 158,400 VND/kg, the highest purchase price in Dak Nong province is 161,000 VND/kg.
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| Pepper price today June 22, 2024: All increased by 1,000 VND/kg, Dak Nong reached the peak of 161,000 VND/kg |
Accordingly, Dak Lak pepper price is purchased at 160,000 VND/kg. Chu Se pepper price (Gia Lai) is currently at 157,000 VND/kg, up 1,000 VND/kg. Dak Nong pepper price today is recorded at 161,000 VND/kg, up 1,000 VND/kg.
In the Southeast region, pepper prices today increased by VND 1,000/kg. Specifically, in Ba Ria - Vung Tau, it reached VND 158,000/kg, an increase of VND 1,000/kg; in Binh Phuoc, pepper prices reached VND 156,000/kg, an increase of VND 1,000/kg.
Continuing the upward trend, domestic pepper prices today increased by 1,000 VND to 157,600 VND/kg. Thus, domestic pepper prices today increased by 1,000 VND/kg in some key localities compared to yesterday. In all localities, pepper prices are at 158,400 VND/kg or higher. The highest pepper price was recorded at 161,000 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 6,418 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,600 USD/ton (down 3.95%); the price of Kuching black pepper (Malaysia) ASTA remained at 7,500 USD/ton (up sharply by 34.67%).
Muntok white pepper price is 8,377 USD/ton; Malaysian ASTA white pepper price increased to 8,800 USD/ton (a sharp increase of 17.05%).
Vietnam's black pepper price is trading at 7,800 USD/ton; 550 g/l type is at 8,000 USD/ton; white pepper price is at 12,000 USD/ton.
According to preliminary statistics from the Vietnam Pepper and Spice Association (VPSA), in the first 16 days of June 2024, Vietnam exported 16,211 tons of pepper, of which 14,347 tons were black pepper and 1,864 tons were white pepper. The total export turnover reached 77.8 million USD.
In the opposite direction, Vietnam imported 1,357 tons, with a total import turnover of 6.6 million USD. Of which, Indonesia, Cambodia and Brazil are the 3 main pepper supplying countries to Vietnam, reaching 596 tons, 486 tons and 135 tons respectively.
According to statistics from the General Department of Customs, in the first 16 days of June 2024, Vietnam exported 16,211 tons of pepper, of which 14,347 tons were black pepper and 1,864 tons were white pepper. The total export turnover reached 77.8 million USD. In June 2024, Vietnam plans to export 30,000 tons of pepper, bringing the total export volume in the first 6 months of the year to 140,000 to 144,000 tons, which is forecast to be the lowest output in the past 5 years.
There are currently no official statistics on pepper output from management agencies, associations, and businesses. However, with an estimated average of 170,000 tons, there will not be much pepper left for export until the end of the year.
Businesses increased imports but at a slight level, in the context of scarce global supply due to low output in many countries.
According to experts, the area for pepper cultivation is increasingly shrinking as farmers switch crops. The supply of pepper on the global market is nearly 100,000 tons short of demand. Because businesses lack goods for export, they increase purchases in a short period of time, causing prices to increase dramatically.
The current "hot" increase is partly due to Chinese traders starting to buy pepper again after a long absence.
If not counting the inventory carried over from last year, our country still has about 60,000 tons of pepper to export in the remaining months of the year.
Ms. Hoang Thi Lien - President of VPSA said that one of the main reasons for the recent increase in pepper prices is due to limited supply worldwide.
Even Indonesia and India are experiencing supply constraints, and smaller producers such as Malaysia, Sri Lanka, and especially the two major global supply-sector players Brazil and Vietnam are experiencing reduced output due to drought caused by El Nino.
“Looking long term in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption needs,” said Ms. Lien.
According to a pepper exporting enterprise, this year's harvest season ended in April. Pepper growing areas are increasingly shrinking as farmers switch crops. Meanwhile, the pepper supply on the global market is nearly 100,000 tons short of demand.
Supply is scarce, while countries are increasing imports, especially China, which is expected to increase its purchase of pepper because of low inventories. In fact, in May, our country's pepper exports to the Chinese market reached 3,137 tons, 4.8 times higher than the previous month and the highest level in the past 11 months.
Therefore, in the coming time, pepper prices will increase again not only in Vietnam but also globally, he said.
Domestic pepper price on June 22 , 2024
Province, city | Unit | Trader purchase price | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 157,000 | +1,000 |
Dak Lak | VND/kg | 160,000 | – |
Dak Nong | VND/kg | 161,000- | +1,000 |
Binh Phuoc | VND/kg | 156,000 | +1,000 |
Ba Ria - Vung Tau | VND/kg | 158,000 | +1,000 |
* Information for reference only. Prices may vary by location.
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