All markets have stagnated, there is no driving force to break out.

Domestic pepper price today

Pepper price today, July 24, 2024, in the Southeast region, is the same as yesterday, trading around 148,000 - 150,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 150,000 VND/kg.

Specifically, Dak Lak pepper price is purchased at 150,000 VND/kg, unchanged from yesterday. Chu Se pepper price (Gia Lai) is purchased at 149,000 VND/kg. Dak Nong pepper price today is recorded at 150,000 VND/kg.

Pepper price today July 24, 2024: All stagnated, the market has not shown any driving force to break out

In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, the price is still at 149,000 VND/kg; in Binh Phuoc, pepper prices today remain stable at 148,000 VND/kg.

Thus, pepper prices today have slowed down in key growing areas right after a strong increase, recording the highest price of 150,000 VND, fluctuating in the price range of 148,000 - 150,000 VND/kg.

According to experts, pepper is still available among the people but they are still waiting. The market has not yet shown the driving force to break out.

Pepper prices this week may only fluctuate slightly as the domestic market awaits the preliminary results of the first 6 months of 2024 of the Vietnam Pepper and Spices Association (VSPA).

The current general export situation of pepper is a decrease in supply, pushing the export price of pepper higher than last year. Farmers sell pepper in small quantities with the belief that the market will continue to increase.

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 7,191 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,157 USD/ton; Malaysian ASTA white pepper price is at 8,800 USD/ton.

The price of Vietnamese black pepper is kept at a high level of 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; and 8,800 USD/ton for white pepper. According to the International Pepper Association (IPC), pepper prices in Brazil, Vietnam, and Indonesia remain unchanged.

According to data from the General Department of Customs, in the first half of July 2024, pepper was the only item with a three-digit growth in export turnover among agricultural products.

Pepper prices increased by 55% compared to the same period last year, from 3,686 USD/ton to 5,727 USD/ton. In terms of output, it reached 10,796 tons, up 53% compared to the same period last year. Export turnover in the first half of July reached 61 million USD, up 137% compared to last year.

Indonesia is expected to harvest pepper in July with good yields in most major growing areas. Scattered rains during the growing period have been beneficial for berry formation. Despite the good yield estimates, prices may not be affected much as speculators have tried to buy up all available material.

The Vietnam Pepper and Spice Association (VPSA) commented that the law on pepper prices this year is not the same as usual in previous years.

Vietnam's pepper output for the 2023/2024 crop year has decreased significantly compared to the previous crop year, causing the current supply to be exhausted. Not only domestically, but also globally, pepper supply is scarce due to the impact of El Nino. In the long term, Vietnam's pepper output will not be able to meet the world's consumption demand in the next 5 years.

Domestic pepper price on July 24 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	149,000	–
Dak Lak	VND/kg	150,000	–
Dak Nong	VND/kg	150,000	–
Binh Phuoc	VND/kg	149,000	–
Ba Ria - Vung Tau	VND/kg	149,000	–