Domestic pepper prices slightly increased, Dak Nong reached 157,000 VND/kg

Domestic pepper price today

Pepper price today, June 30, 2024, in the Southeast region turned to increase from 2,000 - 3,000 VND/kg in some localities, trading around 154,800 VND/kg, the highest purchase price in Dak Nong province is 157,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 155,000 VND/kg, an increase of 3,000 VND/kg. Chu Se pepper price (Gia Lai) is currently at 153,000 VND/kg, an increase of 3,000 VND/kg. Dak Nong pepper price today is recorded at 157,000 VND/kg, an increase of 2,000 VND/kg.

Pepper price today June 30, 2024: Domestic pepper price slightly increased, Dak Nong reached 157,000 VND/kg

In the Southeast region, pepper prices today increased by 3,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it was 154,000 VND/kg; in Binh Phuoc, pepper prices reached 155,000 VND/kg.

Domestic pepper prices today turned up slightly, trading at 154,800 VND/kg. Thus, domestic pepper prices today increased in some key localities compared to yesterday. In all localities, pepper prices are at 153,000 VND/kg or higher. The highest pepper price was recorded at 157,000 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 7,106 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 9,048 USD/ton, up 0.17%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price is at 9,500 USD/ton. IPC slightly increases pepper price in Indonesia; reduces pepper price in Vietnam.

IPC assessed that the pepper market this week showed mixed reactions, with only Sri Lanka and Malaysia reporting increases. After recording increases in the past 5 weeks, both domestic and international Indian pepper prices showed a downward trend this week.

In recent days, domestic pepper prices have fluctuated with strong intensity. In the morning, it increased by 15,000 VND/kg, but in the afternoon, it decreased by 10,000 VND/kg. Experts assess that the market is unpredictable. Low supply, farmers holding pepper, causing traders/enterprises to increase sharply to buy and then decrease deeply to speculate. Agents holding farmers' goods, now turn to squeeze prices to force farmers to close their deals early.

The strong fluctuations in domestic pepper prices also caused the export pepper prices listed by IPC to "dance" accordingly. Last week, the website listing the pepper prices (reference) of this organization for Vietnamese pepper continuously changed. People were happy when the export pepper prices skyrocketed, but the next day they saw the pepper prices listed on IPC drop sharply.

The market is currently uncertain. According to experts, the medium and long-term upward trend of Vietnamese pepper prices is clear. However, the market is being heavily influenced by speculation, so farmers who are still storing pepper should consider and be cautious in selling when necessary, and avoid selling based on rumors.

The sharp increase in pepper prices since the beginning of the year has brought joy to pepper growers, but has put many agents at risk of heavy losses. At the beginning of the season after harvesting, people often consign pepper to purchasing agents with the mindset that if they store pepper themselves, they will lose volume. So when they need money, they will go to the agent to close the sale and collect the money. Meanwhile, purchasing agents who keep goods for farmers often take advantage of the consigned pepper to create other cash flows.

Domestic pepper price on June 30 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease from yesterday
Chu Se (Gia Lai)	VND/kg	153,000	+3,000
Dak Lak	VND/kg	155,000	+3,000
Dak Nong	VND/kg	157,000	+2,000
Binh Phuoc	VND/kg	155,000	+3,000
Ba Ria - Vung Tau	VND/kg	154,000	+3,000