After 2 days of stagnation, pepper prices in key growing areas increased sharply, especially in the Dak Lak area, pepper prices soared to an unprecedented high of 126,000 VND/kg.
Domestic pepper prices
Pepper prices today, May 29, 2024, in the Central Highlands and Southeast regions increased sharply from 3,000 - 6,000 VND/kg.
Accordingly, Dak Lak pepper price was purchased at 126,000 VND/kg, an increase of 6,000 VND/kg compared to yesterday's price, Chu Se pepper price (Gia Lai) is currently at 123,000 VND/kg, an increase of 4,000 VND/kg compared to yesterday. Compared to yesterday, today's Dak Nong pepper price was still recorded at 125,000 VND/kg, an increase of 5,500 VND/kg.
In the Southeast region, pepper prices also increased sharply today. Accordingly, in the Ba Ria - Vung Tau area it has increased to 130,000 VND/kg, an increase of 3,000 VND/kg and in the Binh Phuoc area it has now increased to 125,000 VND/kg, an increase of 5,000 VND/kg.
Thus, after 2 days of stagnation, pepper prices in key growing areas increased sharply, especially in the Dak Lak area, pepper prices soared to an unprecedented high of 126,000 VND/kg.
Compared to the average price in recent years of only about 50,000 VND/kg, pepper prices are currently nearly 2.5 times higher. Compared to 2020 - when pepper prices hit bottom, the current market price is up to 3 times higher.
However, many farmers in Ba Ria - Vung Tau said that due to the effects of intense heat lasting many months, productivity decreased by over 30%.
Besides, about 4 years ago, pepper prices were only 35,000 - 40,000 VND/kg, so many longtime pepper gardens were replaced by durian and some other crops with higher economic value. In some pepper growing areas, the area reduced to only half. That's why pepper prices are so high today, but gardeners don't have much to sell.
World pepper prices
Updated world pepper prices from the International Pepper Association (IPC), at dawn this morning (Vietnam time), Indonesian pepper prices decreased slightly compared to yesterday; Brazilian pepper prices increased sharply after many days of price stability, while Malaysia's prices continued to level off. Vietnam pepper prices continue to remain unchanged.
Specifically, the price of Lampung black pepper (Indonesia) today traded at 5,111 USD/ton, down 0.20%; White pepper price (Indonesia) traded at 7,412 USD/ton, down 0.19%.
Brazilian black pepper price ASTA 570 today is at 5,900 USD/ton.
Malaysian ASTA black pepper price remains at 4,900 USD/ton; Malaysian ASTA white pepper price is still at 7,300 USD/ton.
Prices of all types of Vietnamese pepper listed today remain unchanged. In particular, the price of Vietnamese black pepper type 500 g/l today is trading at 4,800 USD/ton; with 550 g/l type trading at 5,000 USD/ton; ASTA white pepper price is trading at 7,200 USD/ton.
Prices of all types of pepper on the Kochi (India) exchange today were flat compared to yesterday. In particular, Garbled type traded at 61,600 Rupees/100kg, UnGarbled type at 59,600 Rupees/100kg.
In April, the export price of black pepper from Indonesia and Brazil increased by 7.1% and 3.3%, respectively, to 4,578 USD/ton and 5,550 USD/ton, thereby far surpassing the same product priced at 4,200 USD/ton. 4,300 USD/ton from Vietnam.
The upward trend in prices continued in May due to concerns about the risk of global supply shortages in the context that harvest output is forecast to decrease in most leading producing countries such as Vietnam, Brazil, Cambodia... Meanwhile, demand from the US and EU remains high.
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