Regaining momentum, Dak Lak and Dak Nong record highest pepper prices

Domestic pepper price today

Pepper price today, July 12, 2024, in the Southeast region increased slightly by 1,000 VND in some localities, trading around 153,400 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 154,000 VND/kg.

Specifically, Dak Lak pepper price is purchased at 154,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is currently at 153,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today is recorded at 154,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

Pepper price today July 12, 2024: Regaining momentum, Dak Lak and Dak Nong record the highest pepper price

In the Southeast region, pepper prices today are stable/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau at 153,000 VND/kg; in Binh Phuoc , pepper prices are at 153,000 VND/kg.

Domestic pepper prices today are stable at 153,400 VND/kg. Thus, domestic pepper prices today increased slightly by 1,000 VND/kg in Dak Nong and Dak Lak compared to yesterday. In all localities, pepper prices are at 153,000 VND/kg or higher. The highest pepper price was recorded at 154,000 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 7,191 USD/ton, (up 0.34%); the price of Brazilian black pepper ASTA 570 at 7,150 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,156 USD/ton, up 0.05%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

The price of black pepper in Vietnam is still at a high level, trading at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; and 8,800 USD/ton for white pepper. IPC continues to slightly increase pepper prices in Indonesia, Brazil, and Vietnam, while prices remain the same.

Domestic pepper price on July 12 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease from yesterday
Chu Se (Gia Lai)	VND/kg	153,000	–
­­ Dak Lak	VND/kg	154,000	+1,000
Dak Nong	VND/kg	154,000	+1,000
Binh Phuoc	VND/kg	153,000	–
Ba Ria - Vung Tau	VND/kg	153,000

Brazil and Vietnam are two major pepper producing countries, determining the world pepper supply, but production has decreased due to unfavorable weather, pushing up prices.

According to Mr. Pham Van Tuan, Director of the Viet Duc Agricultural Cooperative (Cu Kuin District, Dak Lak Province), the cooperative's total pepper output for the 2024 crop year will reach nearly 200 tons. This year, pepper prices have been continuously increasing, but people are not under pressure to sell early like in previous years, because the prices of other agricultural products are also increasing, helping people have a stable income. Therefore, after harvest, people only sell part of the output in advance to pay for labor, reinvest in production for the next crop, and the rest is still stored waiting for pepper prices to increase.

The Department of Agriculture and Rural Development is currently continuing to closely monitor the market situation and recommending that people focus on improving the productivity and quality of their gardens, thereby helping pepper in Dak Lak ensure that it meets the requirements of the export market. The locality also encourages people to join cooperatives or link production with businesses to form concentrated raw material areas, focusing on guiding people in the direction of organic, sustainable climate change, and increasing the value of pepper.

According to statistics from the Vietnam Pepper and Spice Association (VPSA), in the first 6 months of 2024, up to the end of June 2024, Vietnam exported 142,586 tons of pepper of all kinds, down 6.8% in volume but up 30.5% in value.

The average export price of Vietnamese pepper has increased by 1,000 USD/ton compared to the same period in 2023. Specifically, the price of black pepper reached more than 6,000 USD/ton, white pepper reached nearly 6,600 USD/ton.

The US is Vietnam's largest pepper export market with a volume of 37,435 tons, up 44.6% over the same period last year, accounting for 26.3% of the market share. Next are markets such as Germany with 9,526 tons, up 106.7%; UAE: 8,388 tons, up 15.2%; India: 8,173 tons, up 45.7%, China: 7,453 tons, down 85.2% and the Netherlands: 6,019 tons, up 52.1%.

Top white pepper export markets: Germany: 2,454 tons, USA: 2,044 tons, Netherlands: 1,779 tons, Thailand: 1,732 tons and China: 1,567 tons.

*Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/gia-tieu-hom-nay-1272024-lay-lai-da-tang-dak-lak-dak-nong-ghi-nhan-gia-tieu-cao-nhat-331622.html