Day 2 maintains price at 150,000-151,000 VND/kg

Domestic pepper price today

Pepper price today, July 16, 2024, in the Southeast region, continued to stagnate in some localities, trading around 150,400 VND/kg, the highest purchase price in Ba Ria - Vung Tau and Dak Nong provinces was 151,000 VND/kg.

Specifically, Dak Lak pepper price was purchased at 150,000 VND/kg, unchanged from yesterday. Chu Se pepper price (Gia Lai) continued to stand at 150,000 VND/kg. Dak Nong pepper price today also remained stable at 151,000 VND/kg.

In the Southeast region, pepper prices today also remained unchanged. Specifically, in Ba Ria - Vung Tau, the price is still at 151,000 VND/kg; in Binh Phuoc, pepper prices today remain at 150,000 VND/kg.

Pepper price today July 16, 2024: Second day maintaining price at 150,000-151,000 VND/kg

Thus, pepper prices today recorded the second day of stability, fluctuating in the price range of 150,000 - 151,000 VND/kg.

Vietnam is benefiting from the wave of orders shifting from the US and has many advantages to boost pepper exports to China. Pepper is also one of the export items that is likely to reach a billion USD this year.

Last week, the rapid increase in domestic coffee prices has absorbed all the capital from pepper prices. Currently, in many areas, some agents are holding onto farmers' goods, now turning to lower prices to force farmers to close their deals early.

Commenting on the market this week, experts said that there is no driving force to push prices up. However, domestic pepper prices have formed a new price range and are unlikely to decrease further. Pepper prices fluctuate around 150,000 VND/kg. If coffee prices adjust down this week after the past 2 weeks of hot growth, capital will flow back to pepper, expected to push pepper prices up to 155,000 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 7,211 USD/ton; 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 9,182 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; 6,600 USD/ton for 550 g/l; white pepper prices at 8,800 USD/ton. IPC maintains pepper prices in Indonesia, Brazil, and Vietnam.

Maritime congestion continues to affect pepper exports. Container shipping rates have skyrocketed due to delays and rerouting.

In Indonesia, pepper cultivation has been on a downward trend over the past five years as farmers switch to more profitable crops such as oil palm. While current prices may encourage new plantings, a short-term recovery is unlikely.

Countries such as India, Sri Lanka, Malaysia and Cambodia have had relatively stable production over the past few years, without significantly impacting the overall change in global supply.

Domestic pepper price on July 16 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease from yesterday
Chu Se (Gia Lai)	VND/kg	150,000	–
Dak Lak	VND/kg	150,000	–
Dak Nong	VND/kg	151,000-	–
Binh Phuoc	VND/kg	150,000	–
Ba Ria - Vung Tau	VND/kg	151,000	–