Domestic pepper price today
Pepper price today, June 28, 2024, in the Southeast region increased sharply by 7,000 - 10,000 VND/kg in some localities, trading around 159,000 VND/kg, the highest purchase price in Dak Nong, Dak Lak, Binh Phuoc provinces is 160,000 VND/kg.
Accordingly, Dak Lak pepper price is purchased at 160,000 VND/kg, an increase of 9,000 VND/kg. Chu Se pepper price (Gia Lai) is currently at 157,000 VND/kg, an increase of 7,000 VND/kg. Dak Nong pepper price today is recorded at 160,000 VND/kg, an increase of 10,000 VND/kg.
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| Pepper price today June 28, 2024: Domestic pepper price increased sharply to 160,000 VND/kg |
In the Southeast region, pepper prices today increased by 8,000 - 10,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it was 158,000 VND/kg; in Binh Phuoc, pepper prices reached 160,000 VND/kg.
Domestic pepper prices today increased sharply, trading at 159,000 VND/kg. Thus, domestic pepper prices today increased in some key localities compared to yesterday. In all localities, pepper prices are at 159,000 VND/kg or higher. The highest pepper price was recorded at 160,000 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.
Statistics from the Ministry of Agriculture and Rural Development show that pepper area and output are decreasing, in 2020 the area was more than 130,000 hectares, in 2023 it was only 120,000 hectares, output reached 190,000 tons. It is estimated that this year's pepper output will continue to decrease to only about 170,000 tons, the lowest level in the past 5 years.
Shortage of supply while demand is high is the main reason for the sharp increase in pepper prices. However, behind that are stories of the industry with speculation, people lacking motivation to return to pepper or stories about sustainable development.
According to the Vietnam Pepper and Spice Association (VPSA), in recent years, pepper prices have remained low, causing acreage to decrease. Old pepper gardens have been replaced by other crops, especially durian.
In addition, this year's unusually hot and dry weather has caused output to continue to decline sharply. This year's output is expected to be only about 170,000 tons, down 10% compared to last year, the lowest level in the past 5 years.
Industry experts also warn that currently, durian profits are much higher than pepper. Therefore, pepper acreage may decrease as farmers cut down pepper and switch to durian.
This year, the high pepper price is a good thing for pepper farmers to make up for the years when the price was too low (2019 and 2020). However, VPSA also recommends that farmers should not massively expand the pepper growing area, but focus on investing and caring for the pepper plants in an intensive manner so that they can develop sustainably and stably.
Domestic pepper price on June 28 , 2024
Province, city | Unit | Trader purchase price | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 157,000 | +7,000 |
Dak Lak | VND/kg | 160,000 | +9,000 |
Dak Nong | VND/kg | 160,000 | +10,000 |
Binh Phuoc | VND/kg | 160,000 | +10,000 |
Ba Ria - Vung Tau | VND/kg | 158000 | +8,000 |
* Information for reference only. Prices may vary depending on time and location.
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