Pepper prices have all leveled off, with the highest being 161,000 VND/kg.

Domestic pepper price today

Pepper prices today, June 23, 2024, in the Southeast region, simultaneously stagnated in all localities, trading around 158,400 VND/kg, the highest purchase price in Dak Nong province was 161,000 VND/kg.

Giá tiêu hôm nay 23/6/2024: Giá tiêu đồng loạt chững lại, cao nhất là 161.000 đồng/kg

Pepper price today June 23, 2024: Pepper prices stagnated, highest at 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. Dak Nong pepper price today is recorded at 161,000 VND/kg.

In the Southeast region, pepper prices remained stable today. Specifically, in Ba Ria – Vung Tau, it rose to 158,000 VND/kg; in Binh Phuoc, pepper prices reached 156,000 VND/kg.

Domestic pepper prices today remained stable at 157,600 VND/kg. Thus, domestic pepper prices today have all leveled off in some key localities compared to yesterday. In all localities, pepper prices are at 156,000 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 7,772 USD/ton, down 0.23%; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton, down 100 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,691 USD/ton, down 0.23%; 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, down 20%; 550 g/l is at 6,900 USD/ton, down 15.94%; white pepper price is at 9,700 USD/ton, down 23.71%. IPC slightly reduced pepper prices in Indonesia and Brazil, sharply reducing Vietnam's pepper export price.

The International Pepper Community commented that the pepper market this week showed mixed reactions. In which, domestic and international Indian pepper prices continued to be reported with an upward trend in the past 5 weeks. Meanwhile, pepper prices in Southeast Asian countries were recorded to decrease.

According to VPSA, Vietnam's pepper output in 2024 is estimated to decrease by 10% compared to 2023, to only about 170,000 tons. Meanwhile, statistics from the General Department of Customs show that by the end of May 2024, Vietnam had exported nearly 110,000 tons of pepper of all kinds. If not counting inventory, Vietnam's pepper output will only be about 60,000 tons for export.

The El Nino weather factor causes drought, reducing pepper output in exporting countries, especially the two countries that determine global supply, Brazil and Vietnam, and some other countries such as Indonesia, India, Malaysia, and Sri Lanka.

In the long term, in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption needs.

In the context of sea freight rates increasing by nearly 100%, the Vietnam Maritime Administration has proposed a series of solutions to reduce the burden on businesses and consumers. Proposed measures include: Closely monitoring service prices, encouraging businesses to sign long-term contracts with shipping lines, monitoring prices and surcharges outside of service prices, and reducing administrative procedures.

Pepper prices continued to increase steadily this week, with domestic pepper prices in Vietnam largely dependent on speculation. Pepper prices are forecast to continue to rise towards VND175,000/kg. Pepper exporting businesses are finding it difficult to buy from farmers, and rising transportation costs are causing businesses to lose more.

Domestic pepper price on June 23 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	157,000-	-
Dak Lak	VND/kg	160,000	-
Dak Nong	VND/kg	161,000	-
Binh Phuoc	VND/kg	156,000	-
Ba Ria - Vung Tau	VND/kg	158,000	-