Domestic pepper prices today
Today, July 14, 2024, pepper prices in the Southeast region decreased slightly by 1,000-3,000 VND/kg in some localities, trading around 150,400 VND/kg. The highest purchase price was in Ba Ria - Vung Tau and Dak Nong provinces at 151,000 VND/kg.
Specifically, the price of pepper in Dak Lak is being purchased at 150,000 VND/kg, a decrease of 3,000 VND/kg compared to yesterday. The price of pepper in Chu Se (Gia Lai) is currently at 150,000 VND/kg, a decrease of 2,000 VND compared to yesterday. The price of pepper in Dak Nong today is recorded at 151,000 VND/kg, a decrease of 2,000 VND/kg compared to yesterday.
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| Today, pepper prices uniformly decreased by 1,000 VND/kg to 3,000 VND/kg in key pepper-growing regions. |
In the Southeast region, pepper prices also fell today compared to yesterday. Specifically, in Ba Ria - Vung Tau, prices uniformly decreased by 1,000 VND/kg to 151,000 VND/kg; in Binh Phuoc , prices decreased by 2,000 VND/kg to 150,000 VND/kg.
Domestic pepper prices today are trading at around 150,400 VND/kg. This represents a slight decrease of 1,000-3,000 VND/kg across all localities compared to yesterday. Prices remain at or above 150,000 VND/kg in all areas. The highest price recorded was 151,000 VND/kg.
World pepper prices today
At the close of the most recent trading session, the International Pepper Community (IPC) listed Lampung black pepper (Indonesia) at US$7,211/ton; Brazilian black pepper ASTA 570 at US$7,150/ton; and Kuching black pepper (Malaysia) ASTA at US$7,500/ton.
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Muntok white pepper price is 9,182 USD/ton; Malaysian ASTA white pepper price is at 8,800 USD/ton.
Vietnamese black pepper prices remain at a high level, trading at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper prices at 8,800 USD/ton. IPC maintains pepper prices in Indonesia, Brazil, and Vietnam.
Domestic pepper prices on July 14 , 2024
Province, city | Unit | The price offered by traders. | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 150,000 | -2,000 |
Dak Lak | VND/kg | 150,000 | -3,000 |
Boeing Nong | VND/kg | 151,000 | -2,000 |
Binh Phuoc | VND/kg | 150,000 | -2,000 |
Ba Ria - Vung Tau | VND/kg | 151,000 | -1,000 |
The latest report of the Vietnam Pepper and Spices Association provides information on India's pepper cultivation and export situation from 2014 to 2023.
From 2014 to 2023, India's pepper cultivation area increased by 80,050 hectares, reaching 278,050 hectares in 2023, although this was a 2% decrease compared to 2022. This area is projected to stabilize in 2024.
Pepper production has increased by 135% over the past 10 years, reaching 87,000 tons in 2023, despite an 8% decrease compared to 2022. In 2024, production is expected to increase by 1%, reaching 88,000 tons thanks to productivity enhancement measures.
From 2014 to 2023, India exported an average of 21,000 tonnes of pepper annually. As of April 2024, exports reached 6,556 tonnes, a 43% increase compared to the same period in 2023. The average export price of Indian black pepper increased by 11% compared to the same period in 2023, reaching US$6,872 per tonnes in May 2024.
According to Ms. Hoang Thi Lien, President of VPSA, given the global pepper production situation over the next 3-5 years, global pepper output will not be able to meet the increasing consumer demand. Sellers are hoping for collaboration to avoid a surge in orders on the market, which would drive down pepper prices.
Ms. Lien believes that the core issue in maintaining the area and production of pepper is ensuring good prices for farmers so that they continue to be committed to this crop.
Besides maintaining good prices for farmers, increasing the production of high-quality, value-added products is also an important solution being adopted by many businesses to enhance the value of pepper and increase farmers' income.
Currently, businesses expect freight rates to stabilize again after August. With Brazil forecasting a crop failure, the pepper market is waiting until September to become active again when the pepper harvest season begins in Vietnam.
NedSpice predicts that global pepper acreage is expected to increase from 2025 onwards, but competing crops such as coffee and durian will still offer higher profits for farmers.
It's too early to make an accurate prediction about the 2025 crop, but even if weather conditions remain favorable, it won't exceed the 2024 yield.
*Information for reference only. Prices may vary depending on time and location.
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