Domestic pepper price today
Pepper price today, July 14, 2024, in the Southeast region slightly decreased by 1,000 VND - 3,000 VND/kg in some localities, trading around 150,400 VND/kg, the highest purchase price in Ba Ria - Vung Tau and Dak Nong provinces is 151,000 VND/kg.
Specifically, Dak Lak pepper price is purchased at 150,000 VND/kg, down 3,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is currently at 150,000 VND/kg, down 2,000 VND compared to yesterday. Dak Nong pepper price today is recorded at 151,000 VND/kg, down 2,000 VND/kg compared to yesterday.
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| Pepper prices today decreased by 1,000 VND/kg - 3,000 VND/kg in key growing areas. |
In the Southeast region, pepper prices today also decreased compared to yesterday. Specifically, in Ba Ria - Vung Tau, prices decreased by 1,000 VND/kg to 151,000 VND/kg; in Binh Phuoc, they decreased by 2,000 VND/kg to 150,000 VND/kg.
Domestic pepper prices today fluctuated at 150,400 VND/kg. Thus, domestic pepper prices today decreased slightly by 1,000 - 3,000 VND/kg in all localities compared to yesterday. In all localities, pepper prices are at 150,000 VND/kg or more. The highest pepper price was recorded at 151,000 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 7,211 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,150 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
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Muntok white pepper price is 9,182 USD/ton; ASTA Malaysian white pepper price is at 8,800 USD/ton.
Vietnamese black pepper prices remain at a high level, trading at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; white pepper prices at 8,800 USD/ton. IPC maintains pepper prices in Indonesia, Brazil, and Vietnam.
Domestic pepper price on July 14 , 2024
Province, city | Unit | Trader purchase price | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 150,000 | -2,000 |
Dak Lak | VND/kg | 150,000 | -3,000 |
Dak Nong | VND/kg | 151,000 | -2,000 |
Binh Phuoc | VND/kg | 150,000 | -2,000 |
Ba Ria - Vung Tau | VND/kg | 151,000 | -1,000 |
The latest report of the Vietnam Pepper and Spices Association provides information on the situation of pepper cultivation and export of India from 2014 to 2023.
Between 2014 and 2023, India's pepper cultivation area increased by 80,050 hectares to reach 278,050 hectares in 2023, albeit down 2% from 2022. The area is expected to stabilize in 2024.
Pepper output increased by 135% over the past 10 years, reaching 87,000 tons in 2023, although down 8% compared to 2022. In 2024, output is expected to increase by 1% to 88,000 tons thanks to productivity improvement measures.
From 2014 to 2023, India exported an average of 21,000 tonnes of pepper per year. As of April 2024, exports reached 6,556 tonnes, up 43% over the same period in 2023. The average export price of Indian black pepper increased by 11% over the same period in 2023, reaching $6,872 per tonne in May 2024.
According to Ms. Hoang Thi Lien - President of VPSA, with the global pepper production situation in the next 3-5 years, global pepper output cannot meet the consumer demand which is still increasing. Sellers are looking for a connection to avoid creating a massive amount of orders in the market, holding down pepper prices.
Ms. Lien said that the core issue in maintaining pepper acreage and output is to ensure good prices for farmers so that they continue to stick with this crop.
In addition to maintaining good prices for farmers, increasing the production of high-quality products and value-added products is also an important solution being applied by many businesses to increase the value of pepper and income for farmers.
Currently, businesses expect freight rates to stabilize after August. With Brazil forecasting a poor harvest, the pepper market will have to wait until September to become active again when the pepper harvest season in Vietnam begins.
NedSpice predicts that global pepper acreage is expected to increase from 2025 onwards, but competing crops such as coffee and durian will still bring more profits to farmers.
It is too early to predict exactly what the 2025 crop will be, but even if weather conditions remain favorable it will not exceed the 2024 yield.
*Information for reference only. Prices may vary depending on time and location.
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