Pepper price today June 29, 2024: Pepper price reversed and decreased by 5,000

Domestic pepper price today

Pepper price today, June 29, 2024, in the Southeast region decreased sharply from 5,000 - 8,000 VND/kg in some localities, trading around 152,000 VND/kg, the highest purchase price in Dak Nong province is 155,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 15,260,000 VND/kg, down 8,000 VND/kg. Chu Se pepper price (Gia Lai) is currently at 150,000 VND/kg, down 7,000 VND/kg. Dak Nong pepper price today is recorded at 155,000 VND/kg, down 5,000 VND/kg.

Giá tiêu hôm nay 29/6/2024: Giá tiêu trong nước

Pepper price today June 29, 2024: Pepper price reversed and decreased by 5,000 - 8,000 VND/kg after a strong increase

In the Southeast region, pepper prices today decreased by 7,000 - 8,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it was 151,000 VND/kg; in Binh Phuoc, pepper prices reached 152,000 VND/kg.

Domestic pepper prices today fell sharply, trading at 152,000 VND/kg. Thus, domestic pepper prices today decreased in some key localities compared to yesterday. In all localities, pepper prices are at 150,000 VND/kg or more. The highest pepper price was recorded at 155,000 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 7,094 USD/ton, up 0.08%; the price of Brazilian black pepper ASTA 570 at 7,300 USD/ton, down 2.74%; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,033 USD/ton, up 0.09%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 7,550 USD/ton for 500 g/l; 550 g/l at 8,150 USD/ton; white pepper price at 11,550 USD/ton. IPC sharply increased pepper prices in Indonesia; reduced pepper prices in Brazil; Vietnam's pepper export price remained the same as yesterday.

Domestic pepper prices have recovered strongly in the context of Vietnamese pepper prices trading on the international market increasing sharply by more than 46% yesterday. Earlier this week, Vietnamese pepper prices on the international market fell for 3 consecutive days, at times losing up to 35%.

This year’s pepper harvest in Indonesia was delayed until August-September, later than usual, with a significant crop loss. At the same time, the harvest in Brazil was also delayed, expected to coincide with the Indonesian harvest, and output is estimated to be 10-20% lower than last year.

Therefore, customers around the world will focus on the cheapest available supply source, Vietnam, during the June - August period. This will make it difficult for Vietnamese pepper prices to fall sharply.

Data shows that demand for Vietnamese pepper from traditional customers is increasing strongly again.

According to the Import-Export Department (Ministry of Industry and Trade), in the first 5 months of the year, the US market imported more than 28 thousand tons of pepper worth more than 128 million USD, up 35.7% in volume and 53.4% in value compared to the same period last year. This is also the largest market for Vietnamese pepper.

According to data from the General Department of Customs, Vietnam's pepper exports in May 2024 reached 26.34 thousand tons, worth over 117 million USD, up 0.5% in volume and 0.7% in value compared to April 2024; compared to May 2023, it decreased by 9.0% in volume but increased by 30.2% in value. In the first 5 months of 2024, Vietnam's pepper exports reached 109.33 thousand tons, worth 469 million USD, down 16.8% in volume but up 15.4% in value compared to the same period in 2023.

In May 2024, the average export price of Vietnam's pepper reached 4,443 USD/ton, up 0.2% compared to April 2024 and up 43% compared to May 2023. In the first 5 months of 2024, the average export price of Vietnam's pepper reached 4,290 USD/ton, up 38.7% over the same period in 2023.

Pepper price growth is forecast to slow down, but prices will remain high due to limited supply and increased demand. In producing countries such as Brazil, Indonesia and Vietnam, this year's crop output is forecast to decrease. According to statistics from the Ministry of Agriculture and Rural Development, Vietnam's pepper growing area in 2023 will reach 120,000 hectares, with an output of 190,000 tons. Pepper output in 2024 is estimated to continue to decrease to 170,000 tons, the lowest level in the past 5 years.

Domestic pepper price on June 29 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	150,000	-7,000
Dak Lak	VND/kg	152,000	-8,000
Dak Nong	VND/kg	155,000	-5,000
Binh Phuoc	VND/kg	152,000	-8,000
Ba Ria - Vung Tau	VND/kg	151000	-7,000