Is the Dak Nong region experiencing the sharpest increase in pepper prices?

According to the pepper price forecast for May 21, 2024, this agricultural product is predicted to continue to increase in price and remain at a high level in the near future.

The forecast indicates that pepper prices will continue to rise and remain high in the near future. (Illustrative image)

Previously, on May 20, 2024, pepper prices in the Central Highlands and Southeast regions remained unchanged.

Accordingly, the price of pepper from Dak Lak is being purchased at 111,000 VND/kg, unchanged from yesterday's price. The price of pepper from Chu Se (Gia Lai) is currently at 110,000 VND/kg, and the price of pepper from Dak Nong today remains at 111,000 VND/kg.

In the Southeast region, pepper prices remained unchanged today. Accordingly, in Ba Ria - Vung Tau and Binh Phuoc provinces, the price is still at 111,000 VND/kg.

Thus, pepper prices remained stable for the second consecutive day at the beginning of the week, fluctuating in the range of 110,000 – 111,000 VND/kg. In total, domestic pepper prices increased by an average of 7,000 VND/kg over the past week. With this sharp increase, pepper prices are now nearly 10,000 VND/kg higher than coffee prices.

Domestic pepper price list today, May 20, 2024

According to the International Pepper Association (IPC), as of early this morning (Vietnam time), Indonesian pepper prices remained unchanged compared to yesterday; Brazilian pepper prices were also stable, while Malaysian prices continued to stagnate. Vietnamese pepper prices remained unchanged.

Specifically, the price of Lampung black pepper (Indonesia) today remains at $4,934 per ton, while the price of white pepper (Indonesia) is trading at $6,488 per ton.

The price of Brazilian ASTA 570 black pepper today is $5,000 per ton.

Malaysian ASTA black pepper prices remain at US$4,900/ton; Malaysian ASTA white pepper prices remain at US$7,300/ton.

Vietnamese pepper prices remained stable today. Specifically, Vietnamese black pepper (500 g/l) traded at US$4,600/ton; 550 g/l traded at US$4,700/ton; and ASTA white pepper traded at US$6,600/ton.

Prices for all types of pepper on the Kochi exchange (India) remained unchanged today compared to yesterday. Garbled pepper traded at 59,100 Rupees/100kg, while Ungarbled pepper traded at 57,100 Rupees/100kg.

From the early months of this year, increased imports of Vietnamese pepper by traditional markets such as the European Union (EU), the UK, and China have had a positive impact on the domestic market.

Data from the European Statistical Agency (Eurostat) shows that in the first two months of 2024, EU imports of pepper from non-EU markets reached 37.52 million EUR (equivalent to 40.1 million USD), an increase of 12% compared to the same period in 2023.

Specifically, EU imports of pepper from Vietnam in the first two months of 2024 reached 20.68 million EUR, an increase of 12.5% ​​compared to the same period last year.

* Market price information is for reference only !

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-2152024-gia-tieu-khu-vuc-dak-nong-tang-manh-nhat-321296.html