Slight decrease of 1,000 VND/kg in Dak Lak and Dak Nong

Domestic pepper price today

Pepper price today, July 21, 2024, in the Southeast region, decreased by 1,000 VND/kg in some localities, trading around 145,000 - 146,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 146,000 VND/kg.

Specifically, Dak Lak pepper price was purchased at 146,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 145,000 VND/kg. Dak Nong pepper price today recorded a decrease to 147,000 VND/kg.

Pepper price today July 21, 2024: Slight decrease of 1,000 VND/kg in Dak Lak, Dak Nong

In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, the price is still at 145,000 VND/kg; in Binh Phuoc, pepper prices today decreased to 145,000 VND/kg.

Thus, pepper prices today recorded a decrease in some localities, recording the highest price of 146,000 VND, fluctuating in the price range of 145,000 - 146,000 VND/kg.

Currently, pepper prices are in a state of “fluctuation”, meaning that they go up and down, but in general, they are on an upward trend. According to Mr. Hoang Phuoc Binh – Vice President of the Chu Se Pepper Association (Gia Lai), not only this year, pepper prices will continue to be high for many years to come, because each price increase cycle usually lasts about 10 years.

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, down 0.44%; the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton (down 0.34%); the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,157 USD/ton, down 0.53%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnamese black pepper prices remain high at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; white pepper prices at 8,800 USD/ton. According to the International Pepper Association (IPC), pepper prices in Brazil and Vietnam remain unchanged. Indonesian black pepper prices decreased compared to yesterday.

Pepper prices today are down compared to the same time yesterday. The domestic pepper market is in a tug of war. Currently, pepper prices are in a "fluctuating" state, meaning they go up and down, but in general, the trend will continue to increase. The main reason is that the pepper supply in Vietnam is currently exhausted due to a significant decrease in output in the 2023-2024 crop compared to the previous crop.

New data released by the Brazilian government shows that the country's pepper exports also decreased, reaching only 5,333 tons in June 2024, down 9.7% compared to May 2024. In the first 6 months of this year, Brazil exported 37,181 tons of pepper, down 6% compared to the same period in 2023.

Many industry experts and major pepper businesses around the world have warned that Brazil is facing the risk of a third consecutive year of declining export output due to crop failure. NedSpice has also just lowered its forecast for Brazil's total pepper output this year to 90,000 tons, a decrease of 18.2% compared to 2023.

Vietnam is also the largest customer of the Brazilian pepper industry, so the shortage of supply will cause difficulties for Vietnamese businesses in finding alternative sources of supply, especially when maritime congestion has not been completely resolved and freight rates are high.

IPC commented that the pepper market continued to have mixed reactions this week. Information about crop failures in major producing countries such as India, Indonesia, and Brazil has not had a significant impact on the market. According to experts, the harvest in Indonesia is ongoing, and supply is expected to increase.

However, the country's annual output is estimated to be mostly consumed domestically, with exports steadily decreasing. The market will wait for a full picture of Indonesia's harvest output. If output declines as expected, it will be a boost for global pepper prices in the second half of Q3/2024.

Domestic pepper price on July 21 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease from yesterday
Chu Se (Gia Lai)	VND/kg	145,000	–
Dak Lak	VND/kg	1467,000	-1,000
Dak Nong	VND/kg	146,000	-1000
Binh Phuoc	VND/kg	145,000	—
Ba Ria - Vung Tau	VND/kg	145,000	–