Pepper price today, August 25, 2024, in the Southeast region decreased slightly by 1,000 VND/kg compared to yesterday, trading around 143,000 - 144,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 144,000 VND/kg.
Accordingly, the price of Dak Lak pepper was purchased at 144,000 VND/kg, down 1,000 VND/kg compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 143,000 VND/kg, down 1,000 VND/kg compared to yesterday. The price of Dak Nong pepper today was recorded at 144,000 VND/kg, down 1,000 VND/kg compared to yesterday.
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| Pepper price today August 25, 2024: Pepper price not only increased to 300,000 - 400,000 VND/kg but sometimes even higher |
In the Southeast region, pepper prices today fluctuated in opposite directions compared to yesterday. Specifically, in Binh Phuoc, pepper prices today rose to 143,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 143,000 VND/kg, a decrease of 1,000 VND/kg compared to yesterday;
Thus, pepper price today decreased by 1,000 VND/kg in key regions compared to yesterday, recording the highest price of 144,000 VND, fluctuating in the price range of 143,000 - 144,000 VND/kg, only in Binh Phuoc increased by 1,000 VND/kg, bringing the price to 143,000 VND/kg.
World pepper price today
Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,490 USD/ton, stable compared to yesterday, while the price of Muntok white pepper remained at 8,818 USD/ton.
The price of Brazilian ASTA 570 black pepper remained stable at USD 6,300/ton. The price of Malaysian ASTA black pepper continued to stand firm at USD 8,500/ton; the price of this country's ASTA white pepper reached USD 10,400/ton.
Vietnam black pepper price is traded at 5,800 USD/ton for 500 g/l; 550 g/l at 6,200 USD/ton; white pepper price at 8,500 USD/ton.
Mr. Hoang Phuoc Binh - Permanent Vice President and General Secretary of the Chu Se Pepper Association (Gia Lai) said that on average, the whole industry consumes about 40 thousand tons per month and about 500 thousand tons per year. Therefore, an increase of 10-20 thousand tons of pepper per year is not a big problem and does not affect pepper prices too much.
The important issue now is to look at the overall picture of the industry, which is that the area has decreased and output has decreased in the recent past and in the next few years, supply and demand cannot be balanced.
He said that we are now at the end of the inventory of previous years. Information shared by businesses: "They buy 10 tons of pepper, of which about 3-4 tons are old pepper, stored for 2-3 years."
Thus, if the stock runs out, pepper will be in serious shortage. That means that the supply will be short in the future, which is almost certain.
If we do not plant pepper now, we will not have an additional source of pepper in 4 years. Therefore, it is predicted that the upcoming pepper price increase cycle will last. It is predicted that pepper prices will not only increase to 300,000 - 400,000 VND/kg but may even increase.
Domestic pepper price on August 25, 2024
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*Information for reference only. Prices may vary depending on time and location.
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