Limited domestic and global supply, pepper prices continue to increase

Pepper prices are forecast to continue to increase slightly on September 23, 2024. In the structure of pepper export types in the first 8 months of the year, whole black pepper continued to account for a large proportion of up to 73.8%, reaching 135,620 tons. Next is ground black pepper at 25,699 tons, accounting for 14%; whole white pepper accounts for 7.7% with 14,975 tons; ground white pepper accounts for 3.8%; and finally pickled pepper, raw, nail head, green, pink... with 0.7%.

Pepper price forecast September 23, 2024: Limited domestic and global supply, pepper prices continue to increase

In the domestic market, pepper prices today, September 22, 2024, in key regions increased and decreased by 1,000 VND/kg compared to yesterday and traded around 149,000 - 151,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 151,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 151,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 150,000 VND/kg, up 1,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 151,000 VND/kg, up 1,000 VND/kg compared to yesterday.

In Binh Phuoc, pepper price today is 150,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is 149,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

At world pepper prices, updated world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,715 USD/ton, and the price of Muntok white pepper at 9,305 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,900 USD/ton. The price of Malaysian ASTA black pepper is at 8,800 USD/ton; the price of this country's ASTA white pepper is at 11,200 USD/ton.

Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton...

Mr. Phan Minh Thong, Chairman of Phuc Sinh Group, commented that 2024 will be a year of strong growth for the pepper industry, with the price of this spice forecast to continuously increase due to limited domestic and global supply. However, with decades of experience in exporting and witnessing the ups and downs of the pepper industry, Chairman of Phuc Sinh has drawn a lesson: “We should not look at the growing market and high prices and find ways to increase output to exceed demand. The important thing is that businesses and people cooperate and invest sustainably to hope for long-term growth.”

Experts say pepper prices could rise above VND160,000/kg before the harvest season in Vietnam. One of the main reasons for the recent increase in pepper prices is limited supply worldwide.

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

Source: https://congthuong.vn/du-bao-gia-tieu-2392024-nguon-cung-domestic-nuoc-va-toan-cau-han-che-gia-tieu-lien-tuc-tang-cao-347599.html