Will the price surpass 134,000 VND/kg?

Pepper price forecast for June 3, 2024: Concerns about supply shortages and continuously rising sea freight costs are driving pepper prices higher, potentially exceeding 134,000 VND/kg.

After two consecutive days of increases, pepper prices in key growing regions stabilized on June 2nd, with some areas in the Central Highlands and Southeast regions experiencing a decrease of 2,000 - 3,000 VND/kg.

Pepper price forecast for June 3, 2024: Expected to surpass 134,000 VND/kg

Accordingly, the price of pepper in Dak Lak is being purchased at 130,000 VND/kg, a decrease compared to yesterday's price. The price of pepper in Chu Se (Gia Lai) is currently at 130,000 VND/kg, down 2,000 VND/kg compared to yesterday. The price of pepper in Dak Nong today remains at 131,000 VND/kg, down 3,000 VND/kg.

In the Southeast region, pepper prices decreased slightly today. Specifically, in Ba Ria - Vung Tau, prices fell to 130,000 VND/kg, down 3,000 VND/kg, and in Binh Phuoc , prices dropped to 131,000 VND/kg, down 1,000 VND/kg.

Local	Unit	The price offered by traders.	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	130,000	But
Dak Lak	VND/kg	130,000	-3,000
Boeing Nong	VND/kg	131,000	- 1,000
Binh Phuoc	VND/kg	130,000	- 1,000
Ba Ria - Vung Tau	VND/kg	130,000	- 3,000

Domestic pepper price list today, June 2nd, 2024

*This information is for reference only. Prices may vary depending on the location.

According to the International Pepper Association (IPC), as of early this morning (Vietnam time), Indonesian pepper prices continued to fall compared to yesterday; Brazilian pepper prices rose sharply after several days of stagnation, while Malaysian prices remained unchanged. Vietnamese pepper prices increased sharply across the board.

Specifically, today's price of Lampung black pepper (Indonesia) is trading at US$5,062 per ton, up 0.02%; the price of white pepper (Indonesia) is trading at US$7,382 per ton, down 0.41%.

The price of Brazilian ASTA 570 black pepper today is $5,900 per ton, an increase of $900 per ton (15.25%).

Malaysian ASTA black pepper prices remain at US$4,900/ton; Malaysian ASTA white pepper prices remain at US$7,300/ton.

Vietnamese black pepper is trading at US$5,400/ton for the 500 g/l grade; US$5,900/ton for the 550 g/l grade; and white pepper at US$8,000/ton.

The International Pepper Community noted that the pepper market this week showed mixed reactions, with only Chinese white pepper declining.

In recent years, low pepper prices have discouraged pepper growers, leading to a decrease in planted area. Many old pepper plantations have been replaced with other crops, especially durian.

Meanwhile, global demand for pepper continues to recover after the Covid-19 pandemic. The Chinese market has begun importing again after a long period of absence, contributing to a surge in demand.

Datuk Seri Johari Abdul Ghani, Malaysia's Minister of Agriculture and Commodities, predicts that global demand for pepper will continue its upward trajectory in 2024 and 2025. This is due to the potential applications of pepper in various fields, including pharmaceuticals and cosmetics, driving a positive increase in consumption.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-362024-se-vuot-moc-134000-dongkg-323833.html