(VAN) Pepper prices on 07/25/2024 decreased by VND 1,000 in Dak Lak and Ba Ria - Vung Tau. Domestic pepper prices are trading around VND 148,000 - 150,000/kg.
In the global market, pepper prices on July 25 remain stable.
Accordingly, black pepper from Lampung, Indonesia is priced at $ 7,191/ton, while white pepper from Muntok, Indonesia is priced at $ 9,157/ton.
In Malaysia, black pepper (Kuching ASTA) is priced at $ 7,500/ton, and white pepper (ASTA) is priced at $ 8,800/ton.
In the Brazilian market, black pepper (ASTA 570) remains at $ 7,125/ton.
In Vietnam, export prices for black pepper grade 500 g/l are traded at $ 6,000/ton, and black pepper grade 550 g/l at $ 6,600/ton. Export prices for white pepper remain at $ 8,800/ton.
Global pepper prices today remain unchanged across all countries.
Brazil’s pepper exports reached a record high of 92,065 tons in 2021 but then decreased to 86,359 tons in 2022 and 80,725 tons in 2023. The decline in production from Brazil and Vietnam has driven global pepper prices up continuously in recent times.
In recent weeks, although pepper prices have somewhat stabilized, they are still fluctuating at their highest levels in about 8 years.
Data from the International Pepper Community shows that on July 17, the price of black pepper ASTA from Brazil increased 2.1 times compared to the beginning of this year and 2.3 times compared to the same period last year. Meanwhile, export prices for black pepper (500 g/l and 550 g/l) from Vietnam have increased by 54-65% since the beginning of this year. In Indonesia, pepper prices have also increased by about 86% since the beginning of this year to $ 7,223/ton.
This is a rare occasion in recent years where the price of black pepper from Brazil has surpassed that of Vietnam.
Thus, global pepper prices on 07/25/2024, continue to remain steady compared to yesterday.
Pepper prices on July 25 domestically
In the domestic market, pepper prices on July 25 have decreased in some places compared to yesterday.
Specifically, in Dak Lak, prices decreased by VND 1,000, bringing the purchase price to VND 149,000/kg;
The price of pepper in Dak Nong remains at VND 150,000/kg;
The price of pepper in Gia Lai continues to be traded at VND 149,000/kg;
In Dong Nai, traders are still purchasing pepper at VND 149,000/kg;
In Ba Ria - Vung Tau, the price has decreased by VND 1,000 to VND 148,000/kg;
In Binh Phuoc, pepper is being traded at VND 148,000/kg.
Domestic pepper prices today decreased by VND 1,000 in Dak Lak and Vung Tau, while prices in other localities remain unchanged.
Some experts believe that the market will continue to recognize and reflect the signs of supply shortages compared to demand until the new harvest season begins.
Meanwhile, the rapid increase in transportation costs and port congestion in Asia also impact prices in import markets and may cause shipping delays. This could lead to price increases in the medium and long term.
Thus, domestic pepper prices on 07/25/2024, are trading around VND 148,000 - VND 150,000/kg.
$ 1 = VND 25.148 - Source: Vietcombank.
