Slight increase of 2,000 VND/kg in the Central Highlands, Dak Lak and Dak Nong areas to 162,000 VND/kg

Domestic pepper price today

Pepper prices today, June 19, 2024, in the Central Highlands and Southeast regions fluctuated, increasing and decreasing in some localities, trading around 159,200 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces was 162,000 VND/kg.

Pepper price today June 19, 2024: Slight increase of 2,000 VND/kg in the Central Highlands, Dak Lak and Dak Nong regions to 162,000 VND/kg

Accordingly, Dak Lak pepper price is purchased at 162,000 VND/kg, an increase of 2,000 VND/kg. Chu Se pepper price ( Gia Lai ) is currently at 158,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today is recorded at 162,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today decreased by 1,000 - 2,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it decreased to 158,000 VND/kg, down 1,000 VND/kg; in Binh Phuoc, pepper prices reached 156,000 VND/kg, down 2,000 VND/kg.

After yesterday's sharp decline, domestic pepper prices today fluctuated up and down at 159,200 VND/kg. Thus, domestic pepper prices today increased and decreased by 1,000 - 2,000 VND/kg in most key localities compared to yesterday's 1,000 - 2,000 VND/kg. In all localities, pepper prices were at 159,000 VND/kg or higher. The highest pepper price was recorded at 162,000 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 6,418 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,900 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Muntok white pepper price is 8,377 USD/ton; Malaysian ASTA white pepper price remains at 7,300 USD/ton.

Vietnamese black pepper price is trading at 7,800 USD/ton (up 6.84%); 550 g/l type is at 8,000 USD/ton (up 2.56%); white pepper price is at 12,000 USD/ton.

According to Mr. Phan Minh Thong - Chairman of Phuc Sinh Group, when pepper prices reached a record high, speculators began to increase sales, causing this agricultural product to reverse its decline. However, Mr. Thong still believes that pepper prices are unlikely to fall much due to the decrease in supply this year.

Mr. Le Viet Anh - General Secretary of the Vietnam Pepper and Spice Association (VPSA) assessed that it is very difficult to determine the exact cause of the fluctuation in pepper prices. However, he emphasized that the sharp increase and decrease in pepper prices can occur when a large number of investors buy for speculation.

"Farmers often hoard goods when prices increase, but businesses do not buy, leading to prices falling when they peak," said Mr. Viet Anh.

It is forecasted that domestic pepper prices will hardly fall below 100,000 VND/kg, especially when the harvest season ended in April and the growing area is increasingly narrowed to make way for industrial zones. Mr. Viet Anh predicts that in the near future, domestic pepper prices will increase again not only in Vietnam but also around the world.

The International Pepper Community added that the market last week showed a positive response, with no producing country recording a decrease. Specifically, in South Asia, domestic and international pepper prices in India continued to increase since last month. Meanwhile, domestic pepper prices in Sri Lanka continued to increase over the past 5 weeks.

In Southeast Asia, domestic and export pepper prices from Indonesia recorded an increase since last week due to low inventory in the market.

Only domestic pepper prices in Malaysia recorded an increase this week. Meanwhile, the country's export pepper prices remained stable and unchanged.

Vietnam’s domestic and international pepper prices have continued to rise since early May. The increase is due to low local inventories as well as reduced harvest in Vietnam, according to Namagro.

Meanwhile, the prices of Brazilian black pepper and Chinese white pepper continued to increase since last week. The increase in pepper prices in Brazil is attributed to the poor crop in Espirito Santos, Brazil. Meanwhile, the price of Cambodian black pepper remained stable and unchanged.

Countries such as Brazil and Indonesia are forecast to have poor harvests, which will begin around August. This will help maintain Vietnam's advantage in the international market, as supply is dependent on domestic export companies.

Domestic pepper price on June 19 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease from yesterday
Chu Se (Gia Lai)	VND/kg	158,000	- 0
Dak Lak	VND/kg	162,000	+2,000
Dak Nong	VND/kg	162,000	+1,000
Binh Phuoc	VND/kg	156,000	- 2,000
Ba Ria - Vung Tau	VND/kg	158,000	- 1,000