Domestic pepper prices have dropped sharply from 16,000

Domestic pepper price today

Pepper price today, June 13, 2024, in the Central Highlands and Southeast regions decreased from 16,000 - 21,000 VND/kg in some localities, trading around 158,000 VND/kg, the highest purchase price in Dak Lak , Dak Nong, Ba Ria, Dong Nai provinces is 160,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 160,000 VND/kg, down 19,000 VND compared to yesterday's price. Chu Se pepper price (Gia Lai) is currently at 155,000 VND/kg, down 21,000 VND/kg compared to yesterday. Dak Nong pepper price today is recorded at a record price of 160,000 VND/kg, down 20,000 VND/kg compared to yesterday.

Giá tiêu hôm nay 13/6/2024: Giá tiêu trong nước quay đầu giảm mạnh từ 16.000 -21.000 đồng/kg

Pepper price today June 13, 2024: Domestic pepper price turned to decrease sharply from 16,000 - 21,000 VND/kg

In the Southeast region, pepper prices today decreased from 16,000 - 21,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it decreased to 160,000 VND/kg, down 16,000 VND/kg; in Binh Phuoc , pepper prices reached 155,000 VND/kg, down 21,000 VND/kg.

After a series of consecutive increases, domestic pepper prices today suddenly turned down to 155,000 - 160,000 VND/kg. Thus, domestic pepper prices today ended the increase in most key localities compared to yesterday, decreasing by 16,000 - 21,000 VND/kg. In all localities, pepper prices are below 160,000 VND/kg. The highest pepper price was recorded at 160,000 VND/kg.

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 6,451 USD/ton (up 12.65%); the price of Brazilian black pepper ASTA 570 at 8,500 USD/ton (up 3.53%); the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Muntok white pepper price is 8,420 USD/ton (up 11.82%); Malaysian ASTA white pepper price remains at 7,300 USD/ton.

Vietnamese black pepper prices remain high, trading at 6,500 USD/ton for 500 g/l; 6,700 USD/ton for 550 g/l (up 11.94%); white pepper price at 9,500 USD/ton (up 15.79%).

According to Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA), the pepper market always has potential for speculation, but we have not found any evidence of it. For speculation, businesses must buy a lot, but at this time, no unit can buy thousands of tons. If there was speculation, they could have bought it a long time ago, buying 50 - 100 tons of pepper every day.

China has also just re-entered the market, and the market itself has not bought much. It is very possible that the people themselves are also speculating. However, we are talking about healthy speculation here. Specifically, they have income from selling durian and coffee, instead of depositing money in the bank with very low interest rates, with such a profit margin, they sell durian and coffee and buy a few tons of pepper to store like a business.

Previously, people did not buy pepper but now they also go to the channel to buy. Anyone with money can participate in the market and people's participation is not excluded.

Pepper prices increased by more than 20% in May alone. Speculation among our people also needs to be viewed in a positive light. Because capital is currently very cheap, banks do not have good projects to lend.

Vietnam's pepper export prices have increased sharply because Brazil and Vietnam, two countries that determine global supply, are experiencing a decline in output due to El Nino causing drought. Supply in Indonesia, India, Malaysia, and Sri Lanka is also limited.

According to assessments, in the long term, in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption needs.

Other factors besides supply and demand that have pushed pepper prices up include ocean freight rates. The global container index, which represents spot container freight rates on major international shipping routes, has returned to its peak during the Covid-19 pandemic.

Domestic pepper price on June 12 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease from yesterday
Chu Se (Gia Lai)	VND/kg	155,000	-21,000
Dak Lak	VND/kg	160,000	-19,000
Dak Nong	VND/kg	160,000	-20,000
Binh Phuoc	VND/kg	155,000	-21,000
Ba Ria - Vung Tau	VND/kg	160,000	-16,000