Pepper price on 04/15/2024: Holding below VND 90,000/kg

Pepper prices worldwide on April 15

In the global market, the pepper market on April 15 maintains stability in all countries.

The price of black pepper Lampung in Indonesia remains stable at $ 4,463 per ton. Meanwhile, the price of white pepper Muntok in this country is $ 6,179 per ton.

The price of black pepper Kuching ASTA in Malaysia remains stable at $ 4,900 per ton, while the white pepper ASTA of this country still has a price of $ 7,300 per ton.

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

In Vietnam, the export price of black pepper types 500 and 550 g/l remains at $ 4,200 and $ 4,300 per ton, respectively. The price of white pepper for export remains at $ 6,000 per ton.

Thus, the global pepper prices on 04/15/2024 remained unchanged compared to yesterday.

Pepper prices on April 15 domestically

In the domestic market, the pepper market on April 15 remained stable compared to yesterday.

Specifically, in Dak Lak and Dak Nong, pepper is still trading at VND 89,000/kg;

The price of pepper in Gia Lai today remains at VND 89,000/kg;

Traders in Dong Nai continue to buy pepper at VND 89,000/kg;

The latest pepper price in Ba Ria - Vung Tau remains at VND 89,500/kg;

Meanwhile, traders in Binh Phuoc continue to trade pepper at VND 89,500/kg.

The domestic pepper price today remains stable at the highest level of VND 89,500/kg. Over the past week, the domestic pepper market has continued to decline sharply by an additional VND 3,500 - 4,000/kg.

Recently, VPSA (Vietnam Pepper Association) stated that Vietnam is still ranked first in the world in terms of pepper production and export. However, amid competition and market dynamics favourable to other crops (such as coffee and durian), both the acreage and production of pepper in Vietnam have decreased.

The association also added that this year's pepper production in Vietnam is expected to decrease by 10% to around 170,000 tons compared to last year - the lowest level in the past 5 years.

VPSA is concerned that competition from rival countries, especially Brazil, will become increasingly fierce. Brazil has made significant strides in the past 5 years, increasing from 80,000 tons in 2018 to an estimated 100,000 tons in 2024. Brazil's pepper exports reached 80,000 tons in 2023.

"Therefore, all efforts and support need to be focused on pepper cultivation to ensure stable acreage and production. Vietnam continues to play a proactive role in regulating the world market prices as it does now", VPSA stated.

Additionally, VPSA hopes that government agencies will support efforts to mobilize foreign partners to consider expanding investment activities in Vietnam.

Thus, the domestic pepper price on 04/15/2024 is trading around VND 89,000 - 89,500/kg.