Anchored at a high level of 150,000 VND/kg, pepper prices will fluctuate strongly again.

Domestic pepper price today

Pepper price today, July 30, 2024, in the Southeast region, has remained stable for the third consecutive day, remaining stable compared to yesterday, trading around 149,000 - 150,000 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 150,000 VND/kg.

Pepper price today July 30, 2024: Anchored at a high level of 150,000 VND/kg, pepper price will fluctuate strongly again

Specifically, the price of Dak Lak pepper was purchased at 150,000 VND/kg, unchanged from yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 149,000 VND/kg, unchanged from yesterday. The price of Dak Nong pepper today was recorded at 150,000 VND/kg, stable from yesterday.

In the Southeast region, pepper prices today remain unchanged from yesterday. Specifically, in Ba Ria - Vung Tau, the price is currently at 150,000 VND/kg, unchanged from yesterday; in Binh Phuoc, pepper prices today remain at 149,000 VND/kg, stable from yesterday.

Thus, pepper prices today are stable in some localities in key growing areas, recording the highest price of 150,000 VND, fluctuating in the price range of 149,000 - 150,000 VND/kg.

Since the beginning of the year, domestic pepper prices have been increasing continuously until reaching a peak of VND180,000/kg on June 12. Since then, pepper prices have decreased and changed continuously, fluctuating around VND140,000 - 160,000/kg. This is still considered a record high since 2016.

By the end of the second quarter, domestic pepper prices had increased by about 93% compared to the beginning of the year and 2.3 times higher than the same period last year.

Experts all agree that pepper prices will continue to increase, although there may be some short-term adjustments, but they will not be too deep and the market has formed a new price level.

However, according to many farmers in pepper growing areas, although prices have increased, growers have not benefited much, due to the impact of climate change, pepper productivity has decreased sharply in recent years, an average of 20-30%.

Decreased output, low inventory, and increased psychology of holding on to goods have led to farmers choosing to sell "drop by drop" to test the market even when prices are high.

According to the assessment of some industry experts and representatives of export enterprises, although pepper prices are at their highest level in many years, actual transactions are quite gloomy.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at this time, Indonesian black pepper prices increased and decreased in opposite directions compared to yesterday; Brazilian and Malaysian pepper prices remained unchanged. Vietnamese pepper prices listed today are stable.

At the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,153 USD/ton, up 0.04%, and the price of Muntok white pepper at 8,765 USD/ton, down 3.86%.

The price of Brazilian ASTA 570 black pepper remained stable at USD 6,950/ton. The price of Malaysian ASTA black pepper also remained stable at USD 7,500/ton; the price of this country's ASTA white pepper reached USD 8,800/ton.

Vietnamese black pepper prices remain high 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.

It is forecasted that India will increase its imports of raw pepper for processing, and pepper prices will fluctuate strongly again. In the first 5 months of 2024, India exported 8,173 tons of pepper to the world market, an increase of 34.1% over the same period in 2023. Pepper consumption in the Indian domestic market is also increasing thanks to changes in eating habits and increased demand from masala and spice manufacturers... With high domestic and international demand, India may have to increase imports of raw materials for processing in the coming time, which is considered an opportunity for pepper exporters around the world, including Vietnam.

According to preliminary data from the General Department of Customs, Vietnam exported 8,099 tons of pepper to the Indian market, out of a total of 141,392 tons exported in the first 6 months of 2024. Pepper export turnover to India during this period reached 34.66 million USD, with an average price of 4,280 USD/ton. Thus, compared to the same period in 2023, Vietnam's pepper export volume to this market increased sharply by 46.51%, the average price increased by 30.09% and the turnover increased by 90.6%.

Domestic pepper price on July 30 , 2024