Where did pepper prices surge most sharply in the Central Highlands region?

According to the pepper price forecast for May 23, 2024, due to supply shortages and increased demand in major markets such as Europe and the US, many optimists predict this will be the start of a new upward trend at the end of the second quarter of 2024.

With supply shortages and increased demand in major markets, many optimists predict this is the start of a new rally at the end of Q2 2024.

Previously, today, May 22, 2024, pepper prices in the Central Highlands and Southeast regions increased sharply by 2,000 – 5,000 VND/kg.

Accordingly, the price of pepper in Dak Lak is being purchased at 113,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday's price; the price of pepper in Chu Se (Gia Lai) is currently at 113,000 VND/kg, an increase of 3,000 VND/kg compared to yesterday; and the price of pepper in Dak Nong today recorded an increase of 2,000 VND/kg, reaching 113,000 VND/kg.

In the Southeast region, pepper prices also increased sharply today. Specifically, in Ba Ria - Vung Tau, prices rose by 5,000 VND/kg to 116,000 VND/kg, and in Binh Phuoc , prices reached 114,000 VND/kg, an increase of 3,000 VND/kg compared to yesterday.

Thus, today's pepper prices recorded a sharp increase after several consecutive days of stagnation, reaching a peak of 116,000 VND/kg in the pepper-growing region of Ba Ria - Vung Tau.

Since the beginning of May 2024, domestic pepper prices have been increasing by 13,000 VND/kg. The high price of pepper is welcome news for farmers, compensating for the years when prices were too low (2019 and 2020).

Domestic pepper price list as of May 22, 2024

This year, in addition to continuously rising coffee prices, pepper prices are also on an upward trend, reaching their highest level in many years. This has helped farmers increase their profits and regain confidence in this agricultural product, once considered the "black gold" of farmers.

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 of various types of pepper on the Kochi exchange (India) continued their strong upward trend today compared to yesterday. Garbled pepper traded at 59,800 Rupees/100kg, while Ungarbled pepper traded at 57,800 Rupees/100kg.

According to the Vietnam Pepper and Spice Association, as of the end of April 2024, Vietnam had exported 83,067 tons of various types of pepper; including 73,555 tons of black pepper and 9,512 tons of white pepper.

Total pepper exports reached US$352 million. Compared to the same period last year, export volume decreased by 19.4%, but export value increased by 10.3%. The average export price of black pepper in the first four months reached US$4,065/ton, and white pepper reached US$5,678/ton, increasing by 19.4% for black pepper and 14.5% for white pepper respectively compared to the same period last year.

* Market price information is for reference only !

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-2352024-gia-tieu-tang-manh-nhat-tai-khu-vuc-tay-nguyen-321729.html