Sharp decline, Gia Lai drops to 149,500 VND/kg

Pepper prices today, September 6, 2024, in the Southeast region, key areas turned to decrease sharply by 2,500 - 3,000 VND/kg compared to yesterday, trading around 149,500 - 150,000 VND/kg, the highest purchase price in the provinces of Ba Ria - Vung Tau, Dak Lak, Binh Phuoc, Dak Nong is 150,000 VND/kg.

Pepper price today September 6, 2024: Sharp decline, Gia Lai drops to 149,500 VND/kg

Accordingly, the price of Dak Lak pepper was purchased at 150,000 VND/kg, down 3,000 VND/kg compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 149,500 VND/kg, down 2,500 VND/kg compared to yesterday. The price of Dak Nong pepper today was down to 150,000 VND/kg, down 3,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today decreased by 3,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc, pepper prices today decreased to 150,000 VND/kg, a decrease of 3,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it decreased to 150,000 VND/kg, a decrease of 2,500 VND/kg compared to yesterday.

Thus, pepper prices today turned down after 5 consecutive days of increase, fluctuating in the price range of 149,500 - 150,000 VND/kg, pepper growing areas in Ba Ria - Vung Tau, Dak Lak, Dak Nong, Binh Phuoc the highest is 150,000 VND/kg.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,521 USD/ton, and the price of Muntok white pepper at 8,855 USD/ton.

Brazilian ASTA 570 black pepper price is at USD 7,500/ton. Malaysian ASTA black pepper price continues to stand firm at USD 8,500/ton; the price of ASTA white pepper of this country reaches USD 10,400/ton.

Vietnam's black pepper price is stable at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton.

Currently, pepper supply is limited globally due to the impact of El Nino. In the long term, in the next 3-5 years, the amount of pepper produced will not be able to meet the world's consumption demand.

The impact of El Nino climate change at the beginning of the year has continued to impact farmers’ cultivation, production and maintenance of pepper gardens. Following that, the La Nina phenomenon has further disturbed farmers’ psychology, especially at the present time when durian and coffee prices are at high levels, which are still not attractive enough for farmers to massively replant pepper.

The Vietnam Pepper and Spice Association (VPSA) prioritizes maintaining the pepper acreage, focusing on solutions to improve quality, and diversifying processed products with high added value. Accordingly, it is necessary to advise and guide farmers to comply with international standards, especially on chemical residues, implement cultivation processes, prevent pests, and process and preserve them in accordance with the climatic conditions of each region.

Vietnam still has about 30% of pepper inventory, equivalent to 50,000 - 55,000 tons. According to VPSA, the output of the next pepper crop is likely to be the same or higher than in 2024. The amount of pepper inventory among farmers is not much, and although pests and diseases still exist, they are not too serious.

In the first 8 months of 2024, it is estimated that Vietnam exported a total of about 185,000 tons of pepper with a revenue of 891 million USD, down 1.4% in volume but up 44.9% in value compared to the same period last year. Pepper export price in the first 8 months increased by 47%, reaching an average of 4,810 USD/ton.

Domestic pepper price on September 6 , 2024