Pepper price on 04/10/2024: Sharp deduced by another VND 1,500/kg

Pepper prices on April 10 in the world

In the world, the pepper market on April 10 had no new fluctuations.

Accordingly, the price of Lampung black pepper in Indonesia is anchored at $ 4,463/ton. The price of Muntok white pepper in this country is $ 6,179/ton.  

Malaysia's Kuching ASTA black pepper price remained stable at $ 4,900/ton; This country's ASTA white pepper is still priced at $ 7,300/ton.

For the Brazilian market, the price of ASTA 570 black pepper remains at $ 4,500/ton.

In Vietnam, export prices of black pepper grades 500 and 550 g/l remained at $ 4,200 and $ 4,300/ton, respectively. The export price of white pepper is anchored at $ 6,000/ton.

World pepper prices today continue to move sideways. IPC commented that the market in the first week of April continued to show mixed reactions. 

In particular, in the South Asia region, both India's domestic and export pepper prices continued to increase since last week. Although the Sri Lankan Rupee increased by 1% against the USD (300.04 LKR/USD), the country's domestic pepper price has continued to decrease since 2 weeks ago.

In Southeast Asia, Indonesian black pepper prices recorded an increase over the past 4 weeks. Meanwhile, the price of white pepper in this country continued to decrease from last week due to little inventory left on the market. 

Only Malaysian domestic black pepper prices recorded an increase this week. While other pepper types remain stable and unchanged.

Prices of Brazilian black pepper, Cambodian black pepper and Chinese white pepper were stable and unchanged this week.

Pepper prices in the US market have decreased slightly in the past 2 weeks due to increased selling pressure from producing countries.

Thus, world pepper prices on 04/10/2024 remain stable compared to yesterday.

Pepper prices on April 10 in the country

Domestically, the pepper market on April 10 continued to decline sharply compared to yesterday.

Specifically, Dak Lak reduced the price by another VND 1,000; the Pepper transaction price is at VND 92,000/kg;

Pepper price in Dak Nong is only VND 91,500/kg, down by VND 1,500;

Today's pepper price in Gia Lai decreased by VND 1,000, remaining at VND 91,000/kg;

In Dong Nai, traders bought pepper at a price of VND 90,500/kg, after a discount of VND 1,000;

The latest pepper price in Ba Ria - Vung Tau dropped sharply to VND 91,500/kg;

Binh Phuoc traders traded pepper at VND 91,500/kg, down VND 1,500.

Domestic pepper prices dropped sharply today. In particular, Dak Lak, Gia Lai and Dong Nai pepper prices all decreased by VND 1,000/kg, and other localities' prices decreased by up to VND 1,500/kg. After 2 consecutive days of sharp decline, domestic pepper prices fell to VND 92,000/kg.

The increase in selling force at the end of the season has pushed the domestic pepper market down since the beginning of the week. Experts say that the price of this agricultural product is drifting towards VND 90,000/kg. If the mentioned mark is lost, it will cause another strong sell-off and pepper prices could fall further.

In the coming time, the domestic pepper market will fluctuate around VND 90,000/kg. 

By the end of the first quarter of 2024, Vietnam had exported 56,712 tons of pepper of all kinds. Of which, black pepper reached 49,743 tons, and white pepper reached 6,969 tons. Total export turnover reached $ 235.6 million, of which black pepper price reached $ 196.9 million; white pepper reached $ 38.7 million.

Thus, the domestic pepper price on 04/10/2024 is trading around VND 90,500 - 92,000/kg.