Pepper prices increased simultaneously, maintaining the mark of 157,000 VND/kg.

Domestic pepper price today

Pepper price today, July 2, 2024, in the Southeast region increased from 2,000 - 3,000 VND/kg in some localities, trading around 156,800 VND/kg, the highest purchase price in Dak Nong, Dak Lak, Ba Ria - Vung Tau, Binh Phuoc provinces is 157,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 157,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday's price. Chu Se pepper price (Gia Lai) is currently at 156,000 VND/kg, an increase of 3,000 VND/kg compared to yesterday. Dak Nong pepper price today is still recorded at 157,000 VND/kg.

Pepper price today July 2, 2024: Pepper price increased simultaneously, maintaining the mark of 157,000 VND/kg

In the Southeast region, pepper prices today increased by 2,000 - 3,000 VND. Specifically, in Ba Ria - Vung Tau, it increased by 3,000 VND to 157,000 VND/kg; in Binh Phuoc, it increased by 2,000 VND/kg, pepper prices were at 157,000 VND/kg.

Domestic pepper prices today increased by 2,000 - 3,000 VND/kg, trading at 156,800 VND/kg. Thus, domestic pepper prices today increased 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 157,000 VND/kg.

Pepper prices are high, but farmers are reluctant to sell because they hope that next year's pepper crop will yield higher yields and prices will be higher. In addition, farmers are making good profits from durian and coffee. Meanwhile, preserving pepper is easier than other agricultural products.

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 7,123 USD/ton, up 0.17%; 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 9,069 USD/ton, up 0.17%; 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.

According to the Vietnam Pepper and Spices Association (VPSA), global pepper consumption is expected to reach 529,000 tons in 2024, exceeding production by 64,000 tons.

According to forecasts, Vietnam will export about 28 thousand tons in the next 6 months. Thus, there are still 7-8 months until the new harvest (expected after Tet from February 2025) while the amount of goods left in the hands of people, agents and businesses is not much before.

With the current shortage of pepper supply, many industry experts believe that pepper prices in the coming time may exceed the peak of the previous price cycle.

On the other hand, the increase in pepper prices in the context of a general increase in agricultural product prices is also a good signal for farmers not to rush to grow pepper like the previous price increase period. At the same time, farmers will have better conditions to take care of their pepper gardens in a sustainable way, adapt to climate change and increase output.

Domestic pepper price on July 2 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	156,000	+3,000
Dak Lak	VND/kg	157,000	+2,000
Dak Nong	VND/kg	157,000	–
Binh Phuoc	VND/kg	157,000	+2,000
Ba Ria - Vung Tau	VND/kg	153,000	+3,000