Pepper prices today, August 2, 2024, in the domestic market are stable in key localities, trading from 148,000 - 149,000 VND/kg.
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| Pepper price today August 2, 2024: The market witnessed unprecedented fluctuations, with surprising forecasts about domestic pepper output in the 2025 crop. (Source: Food and Wine) |
Pepper price today August 2, 2024 in the domestic market is stable in key localities, trading from 148,000 - 149,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 148,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (149,000 VND/kg); Dak Lak (149,000 VND/kg); Dak Nong (149,000 VND/kg); Ba Ria - Vung Tau (149,000 VND/kg) and Binh Phuoc (148,000 VND/kg).
Thus, after a slight decrease, domestic pepper prices today remained stable in key localities. The highest pepper price was at 149,000 VND/kg.
Reduced output from Brazil and Vietnam, the world’s two leading pepper producing countries, has pushed international pepper prices up continuously in the first months of this year. In particular, the market has witnessed unprecedented fluctuations in the second quarter of this year.
Accordingly, the export price of black pepper from Indonesia and Brazil increased by 93.1% and 2.3 times respectively from the beginning of the second quarter to mid-June, while Vietnam also recorded an increase of 70 - 83% during the above period.
In the following weeks, the market adjusted down and stabilized somewhat, but still fluctuated at its highest level in the past 8 years. Data from the International Pepper Community (IPC) showed that as of the end of June, the price of Brazilian ASTA black pepper fluctuated at 7,300 USD/ton, up 2.2 times compared to the beginning of this year and the same period last year.
The export price of 500 g/l and 550 g/l black pepper from Vietnam is fluctuating at 6,500 - 7,000 USD/ton, up 67 - 75% compared to the beginning of this year and up 86 - 94% compared to the same period last year. In another major producer, Indonesia, pepper prices also increased by about 83% compared to the beginning of this year and 90.3% compared to the same period last year, to 7,106 USD/ton.
Contrary to recent predictions, according to KT&DT , the Vietnam Pepper and Spice Association (VPSA) recently forecasted that domestic pepper output in the next crop may be equivalent or slightly higher than in 2024. There is not much inventory left in the market, pests and diseases still exist but are not significant, people can handle some common diseases such as: yellow leaves, slow death, net bugs, algae spots, nematodes.
Right after the 2024 harvest, a drought lasting nearly 100 days further degraded many old pepper gardens. Then, heavy rains in the third week of May in Binh Phuoc and Dak Nong provinces helped relieve the drought in pepper gardens after many days of drought.
However, the heavy rain has caused some pepper gardens to be flooded and at risk of being infected with disease, and people are trying to take care of them to prevent the disease from dying quickly. Heavy rain also occurred in mid-July in Dak Lak and Binh Phuoc, causing pepper gardens to easily lose fruit, lack nutrients, have yellow leaves, be flooded, and be infected with pests and diseases.
In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,150 USD/ton, up 0.17%; the price of Brazilian black pepper ASTA 570 at 6,850 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 8,761 USD/ton, up 0.16%; Malaysian ASTA white pepper price is at 8,800 USD/ton.
Vietnamese black pepper price is trading at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton. IPC continues to adjust down the price of Indonesian pepper.
Source: https://baoquocte.vn/gia-tieu-hom-nay-282024-thi-truong-chung-kien-su-bien-dong-chua-tung-co-du-bao-bat-ngo-ve-san-luong-tieu-trong-nuoc-vu-2025-280995.html
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